Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$3,810,000
Warehouses
488 Industrial Way Fallbrook, CA 92028-2248
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US09-7164493
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1986
Total area
24,128 SF
Lot
1.71 ac (74,487 SF)
Zoning code
INDUSTRIAL (M ZONE)
APN
105-410-62-00
UPID
US09-7164493
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
-
Fall Brook Mision Vida Church Mosque
-
A Heart For Wisdom School High School Daycare Center
-
Iglesia Pentecostes Casa De Adoracion Church
-
Greater Hope Orphanage Association Or Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.90M
CAP Approach
CAP
$5.16M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.81M
Owner & transaction history
Expressunits488 LLC · 4 yrs held
Expressunits488 LLC
since 2021
Last sale
$3.1M
7 recorded transactions
Zoning & alternative use
INDUSTRIAL (M ZONE) · Fallbrook, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Fallbrook submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fallbrook 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
$3,805,000
ML approach
$3,900,000
CAP Approach
CAP Return
Estimation
6%
$5,585,000
6.5%
$5,155,000
7%
$4,790,000
Blend value · Realmo final
$3.81M
Range $3.43M – $4.19M · ±10% · vs last sale $3.10M (Nov 5 2021)
Last sale anchor
$3.10M
Nov 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
$158 / 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
$34,563
Tax year 2024
Assessed value
$3,225,240
Assessed 2024
Previous assessed
$3,225,240
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$1,768,680
Assessed improvement
$1,456,560
Applied tax rate
75.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1986
Heating
NONE
Units
1
Total area
24,128 SF
Lot
1.71 ac (74,487 SF)
Zoning code
INDUSTRIAL (M ZONE)
APN
105-410-62-00
UPID
US09-7164493
Jurisdiction
SAN DIEGO
Zoning & alternative use
INDUSTRIAL (M ZONE) · Fallbrook, CAZoning INDUSTRIAL (M ZONE) · permitted uses
INDUSTRIAL (M ZONE) · Fallbrook, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1986
Heating
NONE
Units
1
Lot
1.71 ac
Current owner
From public records · entity-resolved
Expressunits488 LLC
Entity
Mailing address
488 INDUSTRIAL WAY STE A1, FALLBROOK, CA 92028-2249
Mailing matches property
Yes
Owner-occupied
Yes
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 5, 2021
$3,100,000
Expressunits488 LLC
Industrial Way Rentals One LLC
Grant Deed
$2,325,000 · Banner Bank
Dec 12, 2006
—
Industrial Way Rentals One LLC
Heald Family Trust II
Grant Deed
—
Mar 11, 1999
—
Otis P Etal Heald
Heald,otis P Etal
Quit Claim Deed
related
—
Apr 9, 1996
$320,000
Heald Trust
Index Mutual Assn
Grant Deed
$800,000 · Fallbrook National Bank
—
—
Heald Trust
—
Deed Of Trust
related
$200,000 · Fallbrook National Bank
—
—
He4ald Trust
—
Deed Of Trust
related
$561,968 · Inland Empire Fs INC
—
—
Heald Trust
—
Deed Of Trust
related
$600,000 · Temecula Valley National 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 488 Industrial Way?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
