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Property profile & analytics
OFF-MARKET
Estimated value
$930,000
Medical Office Space
8908 Madison Ave Fair Oaks, CA 95628-4000
Individually Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-3194135
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1985
Construction
WOOD
Total area
4,640 SF
Lot
0.57 ac (24,829 SF)
Zoning code
BP
APN
235-0191-058-0000
UPID
US10-3194135
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
Current use
Occupant on record · Public records
-
River City Dental Group: Adusumalli Anjana DDS Dental Office
-
Dr. Carlos Delgado Dental Office
-
Oak Leaf Dental Dental Office
-
Landis Tim DDS Dental Office
-
Katie Yount - State Farm Insurance Agent Insurance Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$725k
Comparable Approach
Comparable
$1.00M
Blend (final)
Blend
$930k
Owner & transaction history
Michael J Mcelroy · 9 yrs held
Michael J Mcelroy
since 2017
7 recorded transactions
Zoning & alternative use
BP · Fair Oaks, CA
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 Fair Oaks submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fair Oaks 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%
$785,000
6.5%
$725,000
7%
$675,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$1,210,000
Current use
OFFICE BUILDING
$1,200,000
Change: -1% · Conversion: Easy
AUTO REPAIR, GARAGE
$1,200,000
Change: -1% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,085,000
Change: -10% · Conversion: Easy
Blend value · Realmo final
$930k
Range $837k – $1.02M · ±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
$200 / 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
$16,071
Tax year 2024
Assessed value
$1,286,327
Assessed 2024
Previous assessed
$1,286,327
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$388,148
Assessed improvement
$898,179
Applied tax rate
54.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1985
Construction
WOOD
Heating
NONE
Buildings
2
Stories
1
Total area
4,640 SF
Lot
0.57 ac (24,829 SF)
Zoning code
BP
APN
235-0191-058-0000
UPID
US10-3194135
Jurisdiction
SACRAMENTO
Zoning & alternative use
BP · Fair Oaks, CA
Zoning BP · permitted uses
BP · Fair Oaks, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fair Oaks. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
MEDICAL BUILDING Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1985
Construction
WOOD
Heating
NONE
Stories
1
Buildings
2
Lot
0.57 ac
Current owner
From public records · entity-resolved
Michael J Mcelroy
Individual
Mailing address
1401 AVOCADO RD, OCEANSIDE, CA 92054-5703
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 14, 2017
$355,500
Michael J Mcelroy
Vickie E Rosalli
Grant Deed
$625,000 · Community 1st Bank
May 31, 2005
$1,000,000
Mcelroy Michael & M E Trust
Fisch Carol Trust
Grant Deed
$500,000 · Tri Counties Bank
May 31, 2005
—
Fisch Carol Trust
Fisch,carol W
Quit Claim Deed
related
—
Jul 23, 1998
$790,000
Carol W Fisch
Pai,jacob P & Angela M
Grant Deed
$35,000 · Asset Preservation
Apr 2, 1997
—
Jacob P Pai
Allstate Life Insurance Co
Grant Deed
$590,700 · Sacramento Commercial Bank
May 10, 1995
$565,000
Allstate Life Insurance Co
Uldrikson,barry J & Donna L
Trustees Deed
—
—
—
Barry J Uldrikson
—
Deed Of Trust
related
$100,000 · Individual
—
—
Rosalli Vickie E Trust
—
Deed Of Trust
related
$408,400 · State Farm Bank Fsb
—
—
Mcelroy Michael & M E Trust
—
Deed Of Trust
related
$58,355 · State Farm Bank Fsb
—
—
Mcelroy Michael & M E Trust
—
Deed Of Trust
related
$80,000 · State Farm Bank Fsb
—
—
Mcelroy Michael & M E Trust
—
Deed Of Trust
related
$100,000 · Tri Counties 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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