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    4514 Runway Dr Lancaster, CA 93536-8529
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    Property profile & analytics

    4514 Runway Dr, Lancaster, CA 93536-8529

    View on Map
    • Warehouses
    • 14,581 SF
    • 0.95 lot acres
    Off-Market
    Last Sale Dec 4, 2023
    $2,250,022
    Property ID
    US10-0098151
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $2,430,000
    Show details
    Cap Rate Potential
    8.3%
    Warehouses
    Location Intelligence

    Current Use by Public Records

    • Streamline Integration / Electrical Service / General Contractor

    Property Details for 4514 Runway Dr

    Year built
    2005
    Construction
    TILT-UP CONCRETE
    Lot size
    0.95 lot acres
    Zone code
    LRSP*
    Property type
    Warehouses
    APN
    3105-001-045
    APU
    3105001045

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 4, 2023 $2,250,000 Michael David Griffin Tulip Entertainment LLC Grant Deed $800k · Wells Fargo Bank NA
    Oct 25, 2021 $2,450,000 Tulip Entertainment LLC Abcde Enterprises LLC Grant Deed —
    May 29, 2018 $1,906,000 Abcde Ents Hetzner Family Trust Grant Deed $1.8M · Hetzner Family Trust (pt)
    Apr 10, 2006 $1,495,500 Hetzner Family Trust Fox Field Industrial Park Grant Deed —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,590,000
      ML approach
      $2,560,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,590,000
      6.5%
      $3,315,000
      7%
      $3,080,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,496,000
      Market price range: $1.08M - $2.50M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,755,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $4,010,000
      Change: +129% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $4,000,000
      Change: +128% Conversion: Easy
      OFFICE BUILDING
      $3,275,000
      Change: +87% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Lancaster
    County
    Los Angeles
    State
    California
    Longitude
    -118.211
    Latitude
    34.734
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $30,867
    $675,000
    $1,575,000
    $2,250,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $5,595,000
      71,664 SF

      2061 Ave J8

      MINI-WAREHOUSE, STORAGE
      2061 Ave J8, Lancaster, CA 93536-5997
      View Details
    • Value Estimation
      $1,245,000
      30,535 SF

      5104 Columbia Way

      WAREHOUSE, STORAGE
      5104 Columbia Way, Lancaster, CA 93536-3011
      View Details
    • Value Estimation
      $5,625,000
      57,050 SF

      45615 23rd W St

      MINI-WAREHOUSE, STORAGE
      45615 23rd W St, Lancaster, CA 93536-7445
      View Details
    • Value Estimation
      $8,865,000
      99,247 SF

      3501 Ave H H

      WAREHOUSE, STORAGE
      3501 Ave H H, Lancaster, CA 93536-8341
      View Details
    • Value Estimation by Request
      1,227,596 SF

      30Th St

      Refrigerated & Cold Storage
      0 30Th St, Lancaster, CA 93536
      View Details
    • Value Estimation
      $600,000
      0.51 Acres

      5107 Columbia Way

      STORAGE YARD, OPEN STORAGE
      5107 Columbia Way, Quartz Hill, CA 93536-3012
      View Details

    Similar Nearby for Sale

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      4.92 Acres

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    • $210,000

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      Lancaster Land Parcel Opportunity

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      Lancaster Industrial Land Parcel

      2.5-acre industrial land parcel in Lancaster's future industrial zone.
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      Large Land Parcel in Lancaster

      Vast 39.834-acre land parcel available in Lancaster, California.
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    • $5,250,000
      823,007.00 Acres

      Lancaster Development Land For Sale

      Development land zoned for mixed-use residential, potential for 200+ units.
      30 Avenue H, Lancaster, CA 93536
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      395,390 SF

      Lancaster Warehouse with High Clearance

      Large warehouse with high ceilings and ample loading docks.
      W 35Th St W, Lancaster, CA 93536
      View Details
    • Contact for pricing
      647,757 SF

      Lancaster Distribution Warehouse with Dock

      Large warehouse with 74 dock doors and spec office.
      46950 N 45Th St W, Lancaster, CA 93536
      View Details
    • Contact for pricing
      1,007,536 SF

      Lancaster Distribution Warehouse Available

      Large distribution warehouse with ample parking and loading docks.
      W Avenue F, Lancaster, CA 93536
      View Details
    • Contact for pricing
      926,860 SF

      Lancaster Industrial/Distribution Building For Rent

      Freestanding industrial/distribution building with cross-dock loading and secured yard.
      2801 Avenue West, Lancaster, CA 93536
      View Details
    • Contact for pricing
      926,860 SF

      Lancaster Industrial Distribution Building

      Freestanding industrial building with cross-dock loading and secured yard.
      2801 Avenue H W, Lancaster, CA 93536
      View Details
    • Contact for pricing
      1,007,536 SF

      Lancaster Distribution Warehouse Available

      Large distribution warehouse with ample parking and loading docks.
      W Avenue F, Lancaster, CA 93536
      View Details
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    Lancaster, CA 93536-8529
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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