Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    Property profile & analytics

    588 2nd St El Centro, CA 92243

    • Apartment buildings
    • 6,069 SF
    • 0.43 lot acres
    OFF-MARKET
    Value Estimations
    $265,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-8198708
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 588 2nd St

    Year built
    1942
    Construction
    WOOD
    Lot size
    0.43 lot acres
    Property size
    6,069 SF
    Property type
    Apartment buildings
    APN
    053-291-011-000
    APU
    53291011000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $265,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $246,000
      Market price range: $246k - $522k

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    El Centro
    County
    Imperial
    State
    California
    Longitude
    -115.546
    Latitude
    32.7877
    CBSA code
    20940
    CBSA name
    EL CENTRO, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $1,509
    $42,287
    $62,983
    $105,270
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $485,000
      3.13 Acres

      1798 Euclid Ave

      APARTMENT HOUSE (5+ UNITS) • 3.13 Acres
      1798 Euclid Ave, El Centro, CA 92243-4049
      View Details
    • Value Estimation
      $760,000
      31,268 SF

      1463 5th St, Unit 1643

      APARTMENT HOUSE (5+ UNITS) • 31,268 SF
      1463 5th St, El Centro, CA 92243-4552
      View Details
    • Value Estimation
      $795,000
      34,736 SF

      1700 Thru 1790th Olive

      APARTMENT HOUSE (5+ UNITS) • 34,736 SF
      1700 Thru 1790th Olive, El Centro, CA 92243
      View Details
    • Value Estimation
      $265,000
      3,024 SF

      1201 Adams Ave

      APARTMENT HOUSE (5+ UNITS) • 3,024 SF
      1201 Adams Ave, El Centro, CA 92243-2007
      View Details
    • Value Estimation
      $335,000
      7,656 SF

      481 Commercial Ave

      APARTMENT HOUSE (5+ UNITS) • 7,656 SF
      481 Commercial Ave, El Centro, CA 92243-2475
      View Details
    • Value Estimation
      $400,000
      9,214 SF

      845 Commercial Ave

      APARTMENT HOUSE (5+ UNITS) • 9,214 SF
      845 Commercial Ave, El Centro, CA 92243-2342
      View Details

    Similar Nearby for Sale

    • $3,049,200
      10.00 Acres

      Apartment Development Land Opportunity

      10-acre site for apartment development in El Centro, CA.
      241 W Danenberg Dr, El Centro, CA 92243
      View Details
    • $675,000
      3,471 SF

      El Centro Multifamily Investment Opportunity

      Five-unit residential property near Vons Shopping Center in El Centro.
      1034 Woodward Ave, El Centro, CA 92243
      View Details
    • $329,000
      1,464 SF

      El Centro Duplex Investment

      Duplex in established neighborhood near schools and shopping.
      1578 W Orange Ave, El Centro, CA 92243
      View Details
    • $480,000
      2,082 SF

      El Centro Triplex Investment Opportunity

      Triplex in prime location with future development potential.
      1751 N Mcdonald St, El Centro, CA 92243
      View Details
    • $475,000
      1.36 Acres

      El Centro Multifamily Opportunity

      Two units on 1.3 acres, ideal for new construction.
      1653 W Barbara Worth Dr, El Centro, CA 92243
      View Details
    • $330,000
      2,082 SF

      El Centro Triplex Investment Opportunity

      Triplex in prime location with development potential and steady income.
      1751 N Mcdonald St, El Centro, CA 92243
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      62,386 SF

      El Centro Retail Space Available

      Grocery-anchored storefront, 1935 SF.
      1702 Imperial Ave, El Centro, CA 92243
      View Details
    • Contact for pricing

      Fully Leased Retail Opportunity

      Retail property in El Centro, CA, currently 100% leased.
      317 Wake Ave, El Centro, CA 92243
      View Details
    • $1.95 SF/Yr
      7,800 SF

      Restaurant Space Available For Rent

      Second generation restaurant space available for lease.
      2018 N Imperial Ave, El Centro, CA 92243
      View Details
    • $1.00 SF/Yr
      15,550 SF

      El Centro Commercial Space Available

      Office and retail spaces available in El Centro, California.
      510 W Main St, El Centro, CA 92243
      View Details
    • Contact for pricing
      31,000 SF

      El Centro Retail Center Investment Opportunity

      Prime 31,000 SF Retail Space Available
      86 Imperial Ave & Cruickshank Dr, El Centro, CA 92243
      View Details
    • Contact for pricing
      5,000 SF

      Retail Space in El Centro

      Retail space available in a busy El Centro shopping center.
      1790 N Imperial Ave, El Centro, CA 92243
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    588 2nd St
    El Centro, CA 92243
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.