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Property profile & analytics
OFF-MARKET
Estimated value
$7,905,000
Life science properties
999 Canal Blvd Richmond, CA 94804-3599
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US09-0600521
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1992
Total area
31,449 SF
Lot
2.16 ac (94,264 SF)
APN
560-310-053-7
UPID
US09-0600521
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
-
Ocean Beach Sportwear Clothing Store
-
Performance Abatement Services Business Related
-
Harder Mechanical Contractors, Inc. General Contractor Construction Company
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.96M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.91M
Owner & transaction history
999 Canal Boulevard LLC · 2 yrs held
999 Canal Boulevard LLC
since 2023
Last sale
$7.9M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.8M
+49.4%
Office building
$5.3M
+34.9%
Restaurant
$5.0M
+29.3%
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 Richmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Richmond 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
$7,960,000
ML approach
$7,960,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,825,000
Change: +49% · Conversion: Difficult
OFFICE BUILDING
$5,255,000
Change: +35% · Conversion: Difficult
RESTAURANT
$5,040,000
Change: +29% · Conversion: Difficult
Blend value · Realmo final
$7.91M
Range $7.11M – $8.70M · ±10% · vs last sale $7.85M (Nov 30 2023)
Last sale anchor
$7.85M
Nov 30 2023
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
$251 / 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
$75,320
Tax year 2024
Assessed value
$4,896,000
Assessed 2024
Previous assessed
$4,896,000
+0.0% YoY
Effective rate
1.54%
On assessed value
Assessed land
$1,224,000
Assessed improvement
$3,672,000
Applied tax rate
8.0000
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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
Off-Market
Year built
1992
Heating
NONE
Stories
1
Units
3
Rooms
3
Total area
31,449 SF
Lot
2.16 ac (94,264 SF)
APN
560-310-053-7
UPID
US09-0600521
Jurisdiction
CONTRA COSTA
Metro division
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN DIVISION
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
COMMERCIAL (GENERAL)
Est. value
$5.8M
OFFICE BUILDING
Est. value
$5.3M
RESTAURANT
Est. value
$5.0M
COMMERCIAL (GENERAL)
OFFICE BUILDING
RESTAURANT
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
1992
Heating
NONE
Stories
1
Units
3
Rooms
3
Lot
2.16 ac
Current owner
From public records · entity-resolved
999 Canal Boulevard LLC
Entity
Mailing address
999 CANAL BLVD, RICHMOND, CA 94804-3599
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
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
Nov 30, 2023
$7,854,000
999 Canal Boulevard LLC
Bon Bay Partners LLC
Grant Deed
$4,725,000 · Bank Of America NA
May 19, 2023
—
Bon Bay Partners LLC
Adam Polkinghorne
Quit Claim Deed
related
—
Dec 9, 2022
$950,000
Adam J Polkinghorne
Scott Larson
Grant Deed
$900,000 · Scott Larson Etux
Nov 22, 2022
$175,000
Adam J Polkinghorne
Spencer Lasley
Grant Deed
$100,000 · Spencer Lasley
Nov 22, 2022
—
Spencer Lasley
Kimberly Lasley
Intrafamily Transfer
related
—
Oct 14, 2022
—
Adam J Polkinghorne
Bom Bay Partners LLC
Grant Deed
—
Oct 14, 2022
$475,000
Adam J Polkinghorne
Lisa Lasley
Grant Deed
—
Oct 11, 2022
$1,683,000
Adam J Polkinghorne
Christopher Todd Forbush
Grant Deed
—
Oct 5, 2022
—
Scott Larson
Bom Bay Partners LLC
Grant Deed
—
Dec 15, 2020
—
Born Bay Partners LLC
—
Deed
related
$1,806,206 · First Republic Bank
Jan 14, 2004
—
Bom-bay Partners LLC
Simrock Point Richmond LLC
Grant Deed
$2,507,164 · Circle 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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