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Property profile & analytics
OFF-MARKET
Estimated value
$1,105,000
Warehouses
550 Central Ave Lake Elsinore, CA 92530-2734
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US09-3364490
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
2000
Construction
WOOD
Total area
2,769 SF
Lot
5.99 ac (260,924 SF)
Zoning code
M-1
APN
377-430-018
UPID
US09-3364490
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
-
Extra Space Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$940k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.30M
Blend (final)
Blend
$1.11M
Owner & transaction history
Portfolio II Subsidiary LLC · 8 yrs held
Portfolio II Subsidiary LLC
since 2017
7 recorded transactions
Zoning & alternative use
M-1 · Lake Elsinore, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.3M
+54.6%
Auto repair, garage
$1.2M
+46.1%
Retail stores
$825,000
+0.8%
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 Lake Elsinore submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Elsinore 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
$940,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$820,000
Current use
OFFICE BUILDING
$1,265,000
Change: +55% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,195,000
Change: +46% · Conversion: Easy
RETAIL STORES
$825,000
Change: +1% · Conversion: Moderate
MEDICAL BUILDING
$755,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.11M
Range $995k – $1.22M · ±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
$399 / 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
$105,636
Tax year 2024
Assessed value
$10,051,937
Assessed 2024
Previous assessed
$10,051,937
+0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$3,492,688
Assessed improvement
$6,559,249
Applied tax rate
5.0000
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
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
2000
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Buildings
8
Stories
2
Units
11
Total area
2,769 SF
Lot
5.99 ac (260,924 SF)
Zoning code
M-1
APN
377-430-018
UPID
US09-3364490
Jurisdiction
RIVERSIDE
Zoning & alternative use
M-1 · Lake Elsinore, CA
Zoning M-1 · permitted uses
M-1 · Lake Elsinore, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Elsinore. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$820,000
OFFICE BUILDING
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.2M
RETAIL STORES
Est. value
$825,000
MEDICAL BUILDING
Est. value
$755,000
WAREHOUSE, STORAGE Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
2000
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
8
Units
11
Lot
5.99 ac
Current owner
From public records · entity-resolved
Portfolio II Subsidiary LLC
Entity
Mailing address
PO BOX 800729, DALLAS, TX 75380-0729
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2017
$9,011,000
Portfolio II Subsidiary LLC
Extra Space Prop Eighty Five L
Grant Deed
—
Dec 6, 2017
—
Storage Portfolio II Subsidiar
—
Grant Deed
related
$194,400,000 · Morgan Stanley Bk
Apr 10, 2013
—
Extra Space Properties Eighty
Extra Space Properties Two LLC
Quit Claim Deed
$28,175,000 · Bank Of The West
Oct 24, 2011
$4,700,000
Extra Space Properties Two LLC
Ag Of Bpg Elsinore Valley INC
Grant Deed
—
Aug 26, 2009
$5,280,000
Ag Of Bpg Elsinore Valley INC
Dgs Dev Partners LLC
Grant Deed
$33,000,000 · Bank Of America
Oct 21, 1998
$422,500
Dgs Development Partners
Warm Springs Associates
Grant Deed
—
—
—
Dgs Development Partners LLC
—
Deed Of Trust
related
$2,800,000 · East-west Investment INC
—
—
Dgs Dev Partners LLC
—
Deed Of Trust
related
$1,300,000 · East-west Investment INC
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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