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Property profile & analytics
OFF-MARKET
Estimated value
$9,085,000
Flex space
4650 2nd St Benicia, CA 94510-1049
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US10-3235835
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1981
Total area
63,127 SF
Lot
4.25 ac (185,130 SF)
APN
0080-040-680
UPID
US10-3235835
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Norcal Auto Services Auto Repair Shop
-
AFS PROPERTIES CORP Real Estate Agency
-
Team Industrial Services, Inc. Industrial Manufacturer Production Facility
-
Cal Neva Supply Co Department Store
-
GHX Industrial Big Box & Wholesale Store (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.99M
CAP Approach
CAP
$9.63M
Comparable Approach
Comparable
$10.64M
Blend (final)
Blend
$9.09M
Owner & transaction history
Tool Benicia Associates LLC · 5 yrs held
Tool Benicia Associates LLC
since 2021
Last sale
$8.0M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$13.6M
+37.0%
Commercial (general)
$12.9M
+30.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Benicia submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Benicia submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$9,260,000
ML approach
$8,985,000
CAP Approach
CAP Return
Estimation
6%
$10,435,000
6.5%
$9,630,000
7%
$8,940,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$9,930,000
Current use
RETAIL STORES
$13,605,000
Change: +37% · Conversion: Moderate
COMMERCIAL (GENERAL)
$12,945,000
Change: +30% · Conversion: Difficult
Blend value · Realmo final
$9.09M
Range $8.18M – $9.99M · ±10% · vs last sale $8.00M (Mar 5 2021)
Last sale anchor
$8.00M
Mar 5 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$144 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$98,914
Tax year 2023
Assessed value
$8,323,200
Assessed 2023
Previous assessed
$8,323,200
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$2,913,120
Assessed improvement
$5,410,080
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1981
Heating
NONE
Stories
1
Total area
63,127 SF
Lot
4.25 ac (185,130 SF)
APN
0080-040-680
UPID
US10-3235835
Jurisdiction
SOLANO
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$9.9M
RETAIL STORES
Est. value
$13.6M
COMMERCIAL (GENERAL)
Est. value
$12.9M
INDUSTRIAL (GENERAL) Current
RETAIL STORES
COMMERCIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1981
Heating
NONE
Stories
1
Lot
4.25 ac
Current owner
From public records · entity-resolved
Tool Benicia Associates LLC
Entity
Mailing address
107 CYPRESS PT WAY, MORAGA, CA 94556-1130
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 5, 2021
$8,000,000
Tool Benicia Associates LLC
Richard A Cordes
Grant Deed
$3,500,000 · Boc Bank
Mar 5, 2021
—
Tool Benicia Associates LLC
—
Deed
related
$3,500,000 · Heritage Bank Of Commerce
Apr 23, 2019
—
Richard A Cordes
—
Deed
related
$3,360,000 · Jpmorgan Chase Bank NA
Nov 5, 2004
—
Aspen Timco LLC
Aspen Timco INC
Quit Claim Deed
related
—
Nov 5, 2004
$3,566,000
Richard A Cordes
Owner Name Unavailable
Grant Deed
related
—
Dec 22, 2000
—
Spight Trust
Tyris Corp
Quit Claim Deed
related
—
Dec 22, 2000
$2,265,000
Aspen Timco INC
Spight Trust
Grant Deed
$1,136,000 · California Bank & Trust
Oct 2, 1991
$1,725,000
Drak Industrial
Sun,life Assuran
Grant Deed
$1,293,750 · Seller
—
—
Drake Industrial Park INC
—
Deed Of Trust
related
$1,200,000 · Sun Life Assurance Co Canada
—
—
Richard A Cordes
—
Deed Of Trust
related
$2,795,000 · First Republic Bank
—
—
Richard A Cordes
—
Deed Of Trust
related
$175,000 · Secured Asset Funding
—
—
Aspen Timco
—
Deed Of Trust
related
$425,000 · Solano Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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