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Property profile & analytics
OFF-MARKET
Estimated value
$1,390,000
Manufacturing properties
501 Industrial Way Fallbrook, CA 92028-2259
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US09-6892726
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1986
Total area
7,200 SF
Lot
0.63 ac (27,442 SF)
Zoning code
INDUSTRIAL (M ZONE)
APN
105-410-51-00
UPID
US09-6892726
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
$1.27M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.39M
Owner & transaction history
Eric P Heald · 1 yrs held
Eric P Heald
since 2025
Last sale
$1.8M
7 recorded transactions
Zoning & alternative use
INDUSTRIAL (M ZONE) · Fallbrook, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$2.3M
+15.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,375,000
6.5%
$1,265,000
7%
$1,175,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,960,000
Current use
APARTMENT HOUSE (5+ UNITS)
$2,265,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$1.39M
Range $1.25M – $1.53M · ±10% · vs last sale $1.75M (Mar 13 2025)
Last sale anchor
$1.75M
Mar 13 2025
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
$193 / 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
$14,170
Tax year 2024
Assessed value
$1,321,999
Assessed 2024
Previous assessed
$1,321,999
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$755,944
Assessed improvement
$566,055
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1986
Heating
NONE
Units
1
Total area
7,200 SF
Lot
0.63 ac (27,442 SF)
Zoning code
INDUSTRIAL (M ZONE)
APN
105-410-51-00
UPID
US09-6892726
Jurisdiction
SAN DIEGO
Zoning & alternative use
INDUSTRIAL (M ZONE) · Fallbrook, CA
Zoning 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
Fallbrook. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.3M
INDUSTRIAL (GENERAL) Current
APARTMENT HOUSE (5+ UNITS)
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
1986
Heating
NONE
Units
1
Lot
0.63 ac
Current owner
From public records · entity-resolved
Eric P Heald
Individual
Mailing address
501 INDUSTRIAL WAY, FALLBROOK, CA 92028-2259
Mailing matches property
Yes
Owner-occupied
Yes
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
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 13, 2025
$1,750,000
Eric P Heald
Richard Schoenfeld
Grant Deed
—
Jun 13, 2025
—
Richard Schoenfeld
Marsha Hertzberg Schoenfeld
Deed
—
Mar 6, 2025
$500
Richard Schoenfeld
Victoria Lee Doherty
Deed
related
—
May 23, 2024
—
Victoria Lee Doherty
—
Deed
related
$777,613 · Richard B Schoenfeld
Oct 8, 2014
—
Doherty Family Trust
Doherty,victoria L
Quit Claim Deed
related
—
May 30, 2014
$1,100,000
Victoria L Doherty
501 Industrial Way LLC
Grant Deed
—
May 30, 2014
—
Victoria Lee Doherty
Brian Doherty
Intrafamily Transfer
related
—
Dec 20, 2006
—
501 Industrial Way LLC
501 Industrial Way LLC
Quit Claim Deed
related
$500,000 · Standard Insurance Co
Mar 1, 2006
$850,000
501 Industrial Way LLC
Ruksenas,miguel A
Grant Deed
$400,000 · Miguel A Ruksenas
Mar 1, 2006
—
Miguel A Ruksenas
Ruksenas,madaline D
Affidavit Of Death
related
—
—
—
Miguel A Ruksenas
—
Deed Of Trust
related
$180,000 · Fallbrook National Bank
—
—
Miguel A Ruksenas
—
Deed Of Trust
related
$130,000 · Hampton John H & Marilyn J (te
—
—
Miguel A Ruksenas
—
Deed Of Trust
related
$51,000 · Hampton John H & M A Trust 006329
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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