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Property profile & analytics
OFF-MARKET
Estimated value
$3,110,000
Retail space
8108 Melrose Ave Los Angeles, CA 90046
Entity Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-7458905
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1937
Construction
WOOD
Total area
5,695 SF
Lot
0.1 ac (4,508 SF)
Zoning code
LAC4
APN
5528-010-004
UPID
US09-7458905
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.11M
Owner & transaction history
Cormackhill LP · 10 yrs held
Cormackhill LP
since 2016
7 recorded transactions
Zoning & alternative use
LAC4 · Los Angeles, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$4.7M
+26.4%
Commercial (general)
$4.1M
+11.2%
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 Los Angeles submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Los Angeles 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,705,000
Current use
RESTAURANT
$4,685,000
Change: +26% · Conversion: Easy
COMMERCIAL (GENERAL)
$4,120,000
Change: +11% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,095,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$3.11M
Range $2.80M – $3.42M · ±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
$546 / 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
$104,308
Tax year 2024
Assessed value
$8,634,755
Assessed 2024
Previous assessed
$8,634,755
+0.0% YoY
Effective rate
1.21%
On assessed value
Assessed land
$3,481,755
Assessed improvement
$5,153,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1937
Construction
WOOD
Heating
NONE
Cooling
YES
Buildings
2
Stories
1
Total area
5,695 SF
Lot
0.1 ac (4,508 SF)
Zoning code
LAC4
APN
5528-010-004
UPID
US09-7458905
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LAC4 · Los Angeles, CA
Zoning LAC4 · permitted uses
LAC4 · Los Angeles, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Los Angeles. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.7M
RESTAURANT
Est. value
$4.7M
COMMERCIAL (GENERAL)
Est. value
$4.1M
AUTO REPAIR, GARAGE
Est. value
$3.1M
RETAIL STORES Current
RESTAURANT
COMMERCIAL (GENERAL)
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
1937
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Buildings
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
Cormackhill LP
Entity
Mailing address
611 ALEXANDER ST 118TH XX
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
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
May 13, 2019
—
Cormackhill LP
—
Grant Deed
related
$22,000,000 · Hillsteen Invs Ltd
Mar 11, 2016
$43,000,000
Cormackhill LP
8100 Melrose Associates LLC
Grant Deed
—
Apr 26, 2006
—
Craig James N 2006 Trust
Craig,james N & Laurie B
Quit Claim Deed
related
—
May 29, 2003
$407,273
J Craig
Brown,tr
Grant Deed
—
May 29, 2003
$152,727
Bruce I Brown
Brown,tr
Grant Deed
related
—
Apr 2, 2001
$12,000,000
Brown Trust
Segal Trust
Grant Deed
$7,000,000 · Segal Trust
Sep 19, 1994
—
Segal,fred Tr
—
Deed Of Trust
related
—
—
—
Cormackhill LP
—
Deed Of Trust
related
$22,000,000 · Cibc
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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