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

    887 2nd St Pomona, CA 91766-2009

    • Parking lots & garages
    • 12,600 SF
    • 0.30 lot acres
    OFF-MARKET
    Last Sale
    Sep 10, 2024
    $1,750,000
    Value Estimations
    $1,750,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-8291185
    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

    • Dr. Urmila M. Patel, MD / Pediatrician
    • Mehul S Md Sonawala / Internist
    • Hedingham Waste Disposal / Dumpster Rental Service
    • Harrowdens Carpet Installation / Carpet Installer
    • Gushansky Larissa DDS / Dentist

    Property Details for 887 2nd St

    Lot size
    0.30 lot acres
    Property size
    12,600 SF
    Zone code
    POC4
    Property type
    Parking lots & garages
    APN
    8335-003-054
    APU
    8335003054

    Description

    This exceptional Class A medical office building, totaling 27,000 square feet, is situated on a 0.72-acre lot at 887 E 2nd St, Pomona, CA 91766, near Western University. Built in 1958 and featuring a two-story design, the property boasts 58 parking spaces, a significant advantage given its location. Currently fully occupied, this multi-tenant building offers a spacious layout with multiple private offices and exam rooms, designed for efficiency and patient comfort. Modern amenities include restrooms, waiting areas, and ample storage. The building is ready for immediate occupancy, with customization options available. Its prime location offers easy access to major highways and public transportation, situated in a bustling area with high foot traffic, surrounded by residential neighborhoods, shops, and eateries. The IX1 zoning allows for healthcare and related services, presenting opportunities for expansion or collaboration. This property presents a unique opportunity to acquire a well-established medical office building in a thriving community. The APN is 8335-003-041. The cross street is Towne Ave.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,750,000
      ML approach
      $1,750,000

    • Alternative Use

      Use
      Estimation
      PARKING LOT
      $1,355,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Pomona
    County
    Los Angeles
    State
    California
    Longitude
    -117.74
    Latitude
    34.0578
    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
    $2,533
    $163,375
    $8,157
    $171,532
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $255,000
      0.07 Acres

      Pomona, CA 91766

      PARKING LOT • 0.07 Acres
      Pomona, CA 91766
      View Details
    • Value Estimation
      $280,000
      0.53 Acres

      750 Park Ave

      PARKING LOT • 0.53 Acres
      750 Park Ave, Pomona, CA 91766-3129
      View Details
    • Value Estimation
      $140,000
      5,740 SF

      1150 2nd St

      PARKING LOT • 5,740 SF
      1150 2nd St, Pomona, CA 91766-2114
      View Details
    • Value Estimation
      $160,000
      6,200 SF

      1312 1st St

      PARKING LOT • 6,200 SF
      1312 1st St, Pomona, CA 91766-1305
      View Details
    • Value Estimation by Request
      23,400 SF

      280 2nd St

      PARKING LOT • 23,400 SF
      280 2nd St, Pomona, CA 91766-1729
      View Details
    • Value Estimation
      $1,900,000
      14,400 SF

      281 4th St

      PARKING LOT • 14,400 SF
      281 4th St, Pomona, CA 91766
      View Details

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    Similar Nearby for Lease

    • $2,500 /Mo

      Retail Space Available For Rent

      Retail space available for lease at $11 per square foot.
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    • New
      $5,000 /Mo
      2,500 SF

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      Retail building on a high-traffic thoroughfare, suitable for various businesses.
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      Retail space in excellent condition, previously a bank.
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      Pomona Retail or Office Space

      Divisible retail or office space available for rent.
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    • $1.55 SF/Yr
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      Pomona Warehouse Space Available

      Sublease available through 10/31/2026, flexible size range.
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      Pomona Warehouse with Truck Court

      Freestanding warehouse on 3.4 acres, near 60 Freeway.
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      View Details
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    887 2nd St
    Pomona, CA 91766-2009
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    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
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