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Property profile & analytics
FOR LEASE
Medical Office Space
521 East Elder St Fallbrook, CA 92028
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6928643
For Lease
$9,785,000
521 East Elder St, Fallbrook, CA 92028
View Listing →
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1988
Total area
32,760 SF
Lot
1.55 ac (67,518 SF)
Zoning code
RESTRICTED COMMERCIAL
APN
104-291-11-00
UPID
US09-6928643
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
-
Haws Daniel T DDS Dental Office
-
Medical Testing Center Std Testing Service
-
Rancho Family Medical Group: Madrid Eric MD Physician
-
Rancho Family Medical Group - Fallbrook Medical Clinic
-
Dr. John G. Tew, MD Ophthalmologist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$11.75M
CAP Approach
CAP
$9.51M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.79M
Owner & transaction history
Vpu Fallbrook LLC · 3 yrs held
Vpu Fallbrook LLC
since 2023
Last sale
$9.7M
6 recorded transactions
Zoning & alternative use
RESTRICTED COMMERCIAL · 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
$12,420,000
ML approach
$11,750,000
CAP Approach
CAP Return
Estimation
6%
$10,305,000
6.5%
$9,510,000
7%
$8,830,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$15,545,000
Current use
AUTO REPAIR, GARAGE
$12,505,000
Change: -20% · Conversion: Difficult
Blend value · Realmo final
$9.79M
Range $8.81M – $10.76M · ±10% · vs last sale $9.70M (Jun 20 2023)
Last sale anchor
$9.70M
Jun 20 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
$299 / 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
$105,988
Tax year 2024
Assessed value
$9,894,000
Assessed 2024
Previous assessed
$9,894,000
+0.0% YoY
Effective rate
1.07%
On assessed value
Assessed land
$4,794,000
Assessed improvement
$5,100,000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
For Lease
Year built
1988
Heating
NONE
Units
1
Total area
32,760 SF
Lot
1.55 ac (67,518 SF)
Zoning code
RESTRICTED COMMERCIAL
APN
104-291-11-00
UPID
US09-6928643
Jurisdiction
SAN DIEGO
Zoning & alternative use
RESTRICTED COMMERCIAL · Fallbrook, CA
Zoning RESTRICTED COMMERCIAL · permitted uses
RESTRICTED COMMERCIAL · 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
MEDICAL BUILDING Current
Est. value
$15.5M
AUTO REPAIR, GARAGE
Est. value
$12.5M
MEDICAL BUILDING Current
AUTO REPAIR, GARAGE
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
1988
Heating
NONE
Units
1
Lot
1.55 ac
Current owner
From public records · entity-resolved
Vpu Fallbrook LLC
Entity
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 20, 2023
$9,700,000
Vpu Fallbrook LLC
Fallbrook Medical Arts LLC
Grant Deed
—
Aug 29, 2016
$10,633,500
Fallbrook Medical Arts LLC
Peppertree Partners LLC
Grant Deed
$7,443,450 · San Diego County Cu
Sep 27, 2007
$5,300,000
Peppertree Partners LLC
Pepper Tree Medical Props LLC
Grant Deed
$4,240,000 · Equitrust Life Insurance Co
Oct 23, 1996
—
Pepper Tree Medical Prope
Pepper Tree Medical Prope,
Quit Claim Deed
related
—
May 15, 1992
—
Pepper Tree Medical Properties
Green Canyon Par
Quit Claim Deed
related
$2,526,320 · Guarantee Mututa
—
—
Pepper Tree Medical Props LLC
—
Deed Of Trust
related
$600,000 · Palmer Realty INC Pension Plan
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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