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Property profile & analytics
OFF-MARKET
Estimated value
$3,445,000
Flex space
851 Wabash Ave Mentone, CA 92359
Entity Owned
~
Est. High Equity
Property ID
US10-0808531
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1984
Construction
STEEL FRAME
Total area
22,300 SF
Lot
3.1 ac (135,185 SF)
APN
0298-061-21-0000
UPID
US10-0808531
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
$3.23M
CAP Approach
CAP
$2.82M
Comparable Approach
Comparable
$2.27M
Blend (final)
Blend
$3.45M
Owner & transaction history
851 Redlands Property LLC
851 Redlands Property LLC
since 2025
Last sale
$4.6M
6 recorded transactions
Zoning & alternative use
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 Mentone submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Mentone 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
$3,165,000
ML approach
$3,225,000
CAP Approach
CAP Return
Estimation
6%
$3,050,000
6.5%
$2,815,000
7%
$2,615,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$5,685,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$3.45M
Range $3.10M – $3.79M · ±10% · vs last sale $4.60M (Jun 18 2025)
Last sale anchor
$4.60M
Jun 18 2025
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
$154 / 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
$35,411
Tax year 2024
Assessed value
$3,000,000
Assessed 2024
Previous assessed
$3,000,000
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$1,050,000
Assessed improvement
$1,950,000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1984
Construction
STEEL FRAME
Heating
NONE
Stories
1
Units
2
Total area
22,300 SF
Lot
3.1 ac (135,185 SF)
APN
0298-061-21-0000
UPID
US10-0808531
Jurisdiction
SAN BERNARDINO
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$5.7M
WAREHOUSE, STORAGE
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
1984
Construction
STEEL FRAME
Heating
NONE
Stories
1
Units
2
Lot
3.1 ac
Current owner
From public records · entity-resolved
851 Redlands Property LLC
Entity
Mailing address
PO BOX 70, REDLANDS, CA 92373-0021
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 18, 2025
$4,600,000
851 Redlands Property LLC
Theron L Vines
Grant Deed
$3,910,000 · First Citizens Bank & Trust Co
Aug 28, 2023
$3,000,000
Theron L Vines
Michael A Adler
Grant Deed
—
Dec 18, 2020
—
Adler Trust
Michael Adler
Quit Claim Deed
related
—
Jun 18, 1998
—
Michael Etal Adler
Adler,kenneth C Etal
Quit Claim Deed
related
—
—
—
Michael Adler
—
Deed Of Trust
related
$188,544 · Adler Trust
—
—
Kenneth C Adler
—
Deed Of Trust
related
$300,000 · Union Bank
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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