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Property profile & analytics
OFF-MARKET
Estimated value
$2,385,000
Manufacturing properties
490 Menlo Ave Hemet, CA 92543-1426
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-2938470
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1983
Total area
19,000 SF
Lot
1.94 ac (84,506 SF)
Zoning code
M2
APN
439-100-043
UPID
US10-2938470
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
-
Simplebuild company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.40M
Comparable Approach
Comparable
$1.64M
Blend (final)
Blend
$2.39M
Owner & transaction history
Millet Properties LLC · 6 yrs held
Millet Properties LLC
since 2019
7 recorded transactions
Zoning & alternative use
M2 · Hemet, 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 Hemet submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hemet 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,600,000
6.5%
$2,400,000
7%
$2,230,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,745,000
Change: -12% · Conversion: Difficult
Blend value · Realmo final
$2.39M
Range $2.15M – $2.62M · ±10%
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
$126 / 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
$20,029
Tax year 2024
Assessed value
$1,694,075
Assessed 2024
Previous assessed
$1,694,075
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$723,734
Assessed improvement
$970,341
Applied tax rate
6.0000
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1983
Heating
CENTRAL
Cooling
CENTRAL
Buildings
3
Stories
1
Units
3
Total area
19,000 SF
Lot
1.94 ac (84,506 SF)
Zoning code
M2
APN
439-100-043
UPID
US10-2938470
Jurisdiction
RIVERSIDE
Zoning & alternative use
M2 · Hemet, CA
Zoning M2 · permitted uses
M2 · Hemet, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hemet. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING
Est. value
$3.7M
MEDICAL BUILDING
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
1983
Heating
CENTRAL
Cooling
Yes
Stories
1
Buildings
3
Units
3
Lot
1.94 ac
Current owner
From public records · entity-resolved
Millet Properties LLC
Entity
Mailing address
30398 ESPERANZA, RANCHO SANTA MARGARITA, CA 92688-2118
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
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
Dec 9, 2019
$1,200,000
Millet Properties LLC
So Cal Connection LLC
Grant Deed
$1,122,000 · American Business Bank
Aug 8, 2017
$1,750,000
So Cal Connections LLC
Ng,jin K
Grant Deed
$962,500 · Velocity Com'l Cap
Dec 30, 2004
—
Jin K Ng
Ng,jin K
Quit Claim Deed
related
$1,350,000 · General Electric Capital Corp
Sep 24, 2004
$1,800,000
Jin K Ng
Underwood,william J JR
Grant Deed
—
Dec 31, 2001
$770,000
William J Underwood
Federal-mogul Corp
Grant Deed
—
Feb 1, 1989
$1,990,000
Phillips Acquisi
Phillips Gasket
Grant Deed
related
—
—
—
William J Underwood
—
Deed Of Trust
related
$400,000 · Pff Bank & Trust
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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