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Property profile & analytics
OFF-MARKET
Estimated value
$2,370,000
Medical Office Space
581 Elder St 89 Fallbrook, CA 92028-3003
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US09-9921908
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1966
Total area
26,663 SF
Lot
1.86 ac (81,021 SF)
Zoning code
RESTRICTED COMMERCIAL
APN
104-291-10-00
UPID
US09-9921908
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
$2.62M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.34M
Blend (final)
Blend
$2.37M
Owner & transaction history
Village Medical Ctr At Elder Street · 4 yrs held
Village Medical Ctr At Elder Street
since 2022
Last sale
$2.3M
7 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
$2,385,000
ML approach
$2,620,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.37M
Range $2.13M – $2.61M · ±10% · vs last sale $2.25M (May 6 2022)
Last sale anchor
$2.25M
May 6 2022
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
$89 / 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
$44,250
Tax year 2024
Assessed value
$4,113,405
Assessed 2024
Previous assessed
$4,113,405
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$1,329,567
Assessed improvement
$2,783,838
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
Off-Market
Year built
1966
Heating
NONE
Units
1
Total area
26,663 SF
Lot
1.86 ac (81,021 SF)
Zoning code
RESTRICTED COMMERCIAL
APN
104-291-10-00
UPID
US09-9921908
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.
Building & site characteristics
From public records
Year built
1966
Heating
NONE
Units
1
Lot
1.86 ac
Current owner
From public records · entity-resolved
Village Medical Ctr At Elder Street
Individual
Mailing address
PO BOX 1531, BONSALL, CA 92003-1531
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2022
—
Village Medical Ctr At Elder Street
Village Medical Center At Elder Str
Intrafamily Transfer
related
$2,400,000 · American First Cu
Jun 6, 2016
—
Village Medical Center At Elder Str
—
Deed
related
$2,435,000 · Wells Fargo Bank NA
Apr 27, 2007
—
Village Medical Center At Elder Str
Melvin D Ricks
Re-recorded Document
related
$2,300,000 · Washington Mutual Bank
Jul 7, 2004
—
Village Medical Center At Elde
Ricks,melvin D & Loretta
Quit Claim Deed
related
$1,830,000 · First Pacific Bank
Dec 29, 2000
$2,250,000
Ricks Trust
Chipman,randy L & Leigh J
Grant Deed
$1,687,500 · Us Bank NA
Oct 24, 1997
$975,000
Randy L Chipman
Fallbrook Medical Equities
Grant Deed
$682,500 · Cenfed Bank
Dec 29, 1995
$650,000
Fallbrook Medical Equities
American Capital Investments
Trustees Deed
related
—
Jun 30, 1995
—
Bel-alta Holdings Ltd Eta
American Capital Investme,
Grant Deed
related
—
Apr 13, 1993
$875,000
American Capital Inv INC
Fallbrook Medica
Grant Deed
related
—
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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