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Property profile & analytics
OFF-MARKET
Estimated value
$37,045,000
Flex space
48603 Warm Spgs Blvd Fremont, CA 94539-7782
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-7936869
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1985
Construction
TILT-UP CONCRETE
Total area
140,980 SF
Lot
8.88 ac (386,813 SF)
APN
519-1010-39-3
UPID
US09-7936869
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$34.66M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$37.05M
Owner & transaction history
Huspp Warm Spring II LP · 2 yrs held
Huspp Warm Spring II LP
since 2023
Last sale
$40.4M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$59.9M
+49.2%
Medical building
$55.7M
+38.8%
Apartment house (5+ units)
$49.9M
+24.4%
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 Fremont submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fremont 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
$32,710,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$37,550,000
6.5%
$34,660,000
7%
$32,185,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$40,145,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$59,895,000
Change: +49% · Conversion: Difficult
MEDICAL BUILDING
$55,735,000
Change: +39% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$49,945,000
Change: +24% · Conversion: Difficult
RETAIL STORES
$49,030,000
Change: +22% · Conversion: Moderate
Blend value · Realmo final
$37.05M
Range $33.34M – $40.75M · ±10% · vs last sale $40.40M (Oct 11 2023)
Last sale anchor
$40.40M
Oct 11 2023
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
$263 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$479,700
Tax year 2024
Assessed value
$40,400,100
Assessed 2024
Previous assessed
$40,400,100
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$29,000,000
Assessed improvement
$11,400,100
Applied tax rate
12.0000
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
1985
Construction
TILT-UP CONCRETE
Heating
NONE
Buildings
2
Stories
1
Units
5
Bathrooms
8
Total area
140,980 SF
Lot
8.88 ac (386,813 SF)
APN
519-1010-39-3
UPID
US09-7936869
Jurisdiction
ALAMEDA
Metro division
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN DIVISION
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
$40.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$59.9M
MEDICAL BUILDING
Est. value
$55.7M
APARTMENT HOUSE (5+ UNITS)
Est. value
$49.9M
RETAIL STORES
Est. value
$49.0M
INDUSTRIAL (GENERAL) Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1985
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Buildings
2
Units
5
Bathrooms
8
Lot
8.88 ac
Current owner
From public records · entity-resolved
Huspp Warm Spring II LP
Entity
Mailing address
101 CALIFORNIA ST STE #1000, SAN FRANCISCO, CA 94111-5813
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 23, 2024
—
Huspp Warm Springs II LP
—
Deed
related
$73,600,000 · Corebridge Institutional Investments Us
Oct 11, 2023
$40,400,500
Huspp Warm Spring II LP
Sra Warm Springs Associates LP
Grant Deed
—
Sep 21, 2021
$30,500,000
Sra Warm Springs Associates LP
Franmar Company
Grant Deed
$22,055,000 · Voya Investment Management LLC
Feb 24, 2020
—
Blue Mine LLC
Cattani Arnold JR.
Quit Claim Deed
related
—
Feb 20, 2020
—
Caliente Cowboss LLC
Sylvia H Cattani
Quit Claim Deed
related
—
Dec 2, 2016
—
Franmar Company
—
Deed
related
$6,750,000 · Fremont Bank
Jul 28, 2016
$3,202,500
Franmar Co
Cattani,arnold JR
Grant Deed
—
Dec 18, 2015
—
Arnold Cattani JR
Cattani,sylvia H
Quit Claim Deed
—
Jun 25, 2015
—
Revx-mbex20 INC
Terreno Warm Springs I II LLC
Grant Deed
$14,000,000 · Agri-ventures LLC
Mar 30, 2010
$7,263,500
Terreno Warm Springs I II LLC
Pen Associates
Grant Deed
—
Oct 25, 1983
$197,500
Pen Associates
—
Grant Deed
related
—
—
—
Pen Associates
—
Deed Of Trust
related
$7,100,000 · Allstate Life Insurance Co
—
—
Pen Associates
—
Deed Of Trust
related
$7,800,000 · First Interstate Bank Californ
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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