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Property profile & analytics
OFF-MARKET
Estimated value
$20,500,000
Warehouses
50 22nd St San Diego, CA 92102
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-7567143
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1935
Total area
43,504 SF
Lot
1.38 ac (60,112 SF)
Zoning code
INDUSTRIAL (M ZONE)
APN
535-640-11-00
UPID
US09-7567143
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
$20.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$19.36M
Blend (final)
Blend
$20.50M
Owner & transaction history
Fhcsd Sanitas 8 LLC · 1 yrs held
Fhcsd Sanitas 8 LLC
since 2025
Last sale
$20.5M
6 recorded transactions
Zoning & alternative use
INDUSTRIAL (M ZONE) · San Diego, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$25.3M
+80.6%
Retail stores
$19.3M
+37.4%
Office building
$18.4M
+30.9%
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 San Diego submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Diego 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
$20,500,000
ML approach
$20,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$14,030,000
Current use
MEDICAL BUILDING
$25,325,000
Change: +81% · Conversion: Difficult
RETAIL STORES
$19,275,000
Change: +37% · Conversion: Moderate
OFFICE BUILDING
$18,360,000
Change: +31% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$17,485,000
Change: +25% · Conversion: Easy
Blend value · Realmo final
$20.50M
Range $18.45M – $22.55M · ±10% · vs last sale $20.50M (Aug 1 2024)
Last sale anchor
$20.50M
Aug 1 2024
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
$471 / 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
$100,870
Tax year 2024
Assessed value
$7,612,233
Assessed 2024
Previous assessed
$7,612,233
+0.0% YoY
Effective rate
1.33%
On assessed value
Assessed land
$2,462,853
Assessed improvement
$5,149,380
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1935
Heating
NONE
Units
1
Total area
43,504 SF
Lot
1.38 ac (60,112 SF)
Zoning code
INDUSTRIAL (M ZONE)
APN
535-640-11-00
UPID
US09-7567143
Jurisdiction
SAN DIEGO
Zoning & alternative use
INDUSTRIAL (M ZONE) · San Diego, CA
Zoning INDUSTRIAL (M ZONE) · permitted uses
INDUSTRIAL (M ZONE) · San Diego, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Diego. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$14.0M
MEDICAL BUILDING
Est. value
$25.3M
RETAIL STORES
Est. value
$19.3M
OFFICE BUILDING
Est. value
$18.4M
INDUSTRIAL (GENERAL)
Est. value
$17.5M
WAREHOUSE, STORAGE Current
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
INDUSTRIAL (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
1935
Heating
NONE
Units
1
Lot
1.38 ac
Current owner
From public records · entity-resolved
Fhcsd Sanitas 8 LLC
Entity
Free & Clear · 1 yrs held
Mailing address
550 E HOSPITALITY LN STE 300TH SN BERNRDNO
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 15, 2025
—
Fhcsd Sanitas 8 LLC
Fhcsd Sanitas 8 LLC
Deed
related
—
Aug 1, 2024
$20,500,000
Fhcsd Sanitas 8 LLC
Imperial Delaware LLC
Grant Deed
—
Dec 20, 2021
—
Imperial Delaware LLC
Imperial Market Investors LLC
Grant Deed
$6,000,000 · Dbr Investments Co Limited
Nov 30, 1998
—
Imperial Market Investors
—
Deed Of Trust
related
$3,300,000 · City National Bank
Dec 29, 1988
—
Partner Imperial
Carlson John W
Quit Claim Deed
related
$1,550,000 · Golden Eagle Insurance
Mar 23, 1988
$1,050,000
John W Carlson
Vitag
Grant Deed
$1,450,000 · California First 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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