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
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    7608 Somerset Blvd Paramount, CA 90723-4103

    • Auto shops
    • 6,284 SF
    • 0.51 lot acres
    OFF-MARKET
    Last Sale
    Oct 05, 2023
    Value Estimations
    $1,805,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-8564199
    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

    • Auto shops

    Property Details for 7608 Somerset Blvd

    Year built
    1950
    Lot size
    0.51 lot acres
    Property size
    6,284 SF
    Zone code
    PAM2*
    Property type
    Auto shops
    APN
    6240-012-001
    APU
    6240012001

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $1,482,000
      Market price range: $481k - $2.16M

    • Alternative Use

      Use
      Estimation
      AUTO REPAIR, GARAGE
      $2,905,000
      Current use
      MEDICAL BUILDING
      $2,855,000
      Change: -2% Conversion: Difficult
      OFFICE BUILDING
      $2,820,000
      Change: -3% Conversion: Difficult
      RETAIL STORES
      $2,410,000
      Change: -17% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Paramount
    County
    Los Angeles
    State
    California
    Longitude
    -118.166
    Latitude
    33.8961
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, 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
    $25,251
    $1,428,000
    $494,700
    $1,922,700
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $715,000
      11,072 SF

      8615 Rosecrans Ave

      AUTO REPAIR, GARAGE • 11,072 SF
      8615 Rosecrans Ave, Paramount, CA 90723-3637
      View Details
    • Value Estimation
      $615,000
      3,168 SF

      7337 Somerset Blvd

      AUTO REPAIR, GARAGE • 3,168 SF
      7337 Somerset Blvd, Paramount, CA 90723-4036
      View Details
    • Value Estimation by Request
      414 SF

      8304 Alondra Blvd

      AUTO REPAIR, GARAGE • 414 SF
      8304 Alondra Blvd, Paramount, CA 90723
      View Details
    • Value Estimation by Request
      2,133 SF

      15323 Lakewood Blvd

      AUTO REPAIR, GARAGE • 2,133 SF
      15323 Lakewood Blvd, Paramount, CA 90723-4631
      View Details
    • Value Estimation by Request
      1,800 SF

      8627 Rosecrans Ave

      AUTO REPAIR, GARAGE • 1,800 SF
      8627 Rosecrans Ave, Paramount, CA 90723-3647
      View Details
    • Value Estimation by Request
      2,679 SF

      8536 Somerset Blvd

      AUTO REPAIR, GARAGE • 2,679 SF
      8536 Somerset Blvd, Paramount, CA 90723-4522
      View Details

    Similar Nearby for Sale

    • $4,727,273
      1,424 SF

      8510 Rosecrans Ave

      Automotive properties • 1,424 SF
      8510 Rosecrans Ave, Paramount, CA 90723
      View Details
    • Contact for pricing
      1,700 SF

      Paramount Retail Space For Lease

      High-traffic corner location, remodeled retail space.
      8329 Blvd, Paramount, CA 90723
      View Details
    • $1,875,000
      5,567 SF

      Paramount Retail/Office Investment Opportunity

      Fully occupied retail/office building with upside potential in rents.
      14125 Garfield Ave, Paramount, CA 90723
      View Details
    • $150,000

      Established Laundromat Business For Sale

      Profitable laundromat business opportunity on high-traffic corner lot.
      15105 Lakewood Blvd, Paramount, CA 90723
      View Details
    • $1,850,000
      4,380 SF

      Paramount Mixed-Use Investment Opportunity

      Mixed-use property in downtown Paramount with retail, residential, and rental units.
      15323 Paramount Blvd, Paramount, CA 90723
      View Details
    • $1,900,000
      3 SF

      Restaurant Opportunity on Alondra Boulevard

      Restaurant with beer and wine license potential and ample patio.
      8320 Alondra Blvd, Paramount, CA 90723
      View Details

    Similar Nearby for Lease

    • $10 SF/Yr
      48,075 SF

      Farmers Market Plaza: Multi-Use Space

      Prime Paramount location; versatile warehouse & retail space.
      7500-7532 Rosecrans Ave, Paramount, CA 90723
      View Details
    • $3,600 /Mo

      Remodeled Retail Space in Paramount

      Remodeled retail space in Paramount with excellent signage potential.
      8329 Alondra Blvd, Paramount, CA 90723
      View Details
    • $1.95 SF/Yr
      1,480 SF

      Retail Space For Lease

      Retail space available for lease in Paramount, CA.
      8527 Alondra Blvd, Paramount, CA 90723
      View Details
    • $2 SF/Yr
      960 SF

      Retail Space For Lease

      Retail space available for lease in Paramount, CA.
      15134 Paramount Blvd, Paramount, CA 90723
      View Details
    • Contact for pricing

      Fully Leased Retail Property

      Retail property in Paramount, CA, currently 100% leased.
      8111 Rosecrans Ave, Paramount, CA 90723
      View Details
    • $2,895 /Mo
      700 SF

      Remodeled Paramount Home with Garage

      Remodeled 2 bed, 1 bath unit with detached garage.
      15366 Georgia Ave, Paramount, CA 90723
      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.
    7608 Somerset Blvd
    Paramount, CA 90723-4103
    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.