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Property profile & analytics
OFF-MARKET
Estimated value
$23,225,000
Parking lots & garages
Palmdale, CA 93551
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US09-9126976
Property profile
Verified
Property type
Parking lots & garages
Use group
PARKING LOT
Total area
58,800 SF
Lot
1.3 ac (56,654 SF)
Zoning code
PDRA
APN
3005-038-082
UPID
US09-9126976
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
$23.23M
Owner & transaction history
Mershop Antelope LLC
Mershop Antelope LLC
since 2025
5 recorded transactions
Zoning & alternative use
PDRA · Palmdale, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$38.3M
+28.2%
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 Palmdale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palmdale 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
PARKING LOT
$29,875,000
Current use
RESTAURANT
$38,290,000
Change: +28% · Conversion: Difficult
MEDICAL BUILDING
$26,730,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$23.23M
Range $20.90M – $25.55M · ±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
$395 / 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
$14,479
Tax year 2024
Assessed value
$1,037,429
Assessed 2024
Previous assessed
$1,037,429
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$1,003,965
Assessed improvement
$33,464
Applied tax rate
17.0000
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
Parking lots & garages
Use group
PARKING LOT
Status
Off-Market
Heating
NONE
Total area
58,800 SF
Lot
1.3 ac (56,654 SF)
Zoning code
PDRA
APN
3005-038-082
UPID
US09-9126976
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
PDRA · Palmdale, CA
Zoning PDRA · permitted uses
PDRA · Palmdale, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palmdale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
PARKING LOT Current
Est. value
$29.9M
RESTAURANT
Est. value
$38.3M
MEDICAL BUILDING
Est. value
$26.7M
PARKING LOT Current
RESTAURANT
MEDICAL BUILDING
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
Heating
NONE
Lot
1.3 ac
Current owner
From public records · entity-resolved
Mershop Antelope LLC
Entity
Mailing address
1000 MAIN ST36THFL, HOUSTON, TX 77002-6336
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 2025
—
Mershop Antelope LLC
Antelope Valley Shop LLC
Grant Deed
—
Jun 12, 2023
—
Antelope Valley Shop LLC
—
Deed
related
$24,000,000 · First Republic Bank
Nov 30, 2022
$47,225,500
Antelope Valley Shop LLC
Antelope Valley Mall LLC
Grant Deed
—
Dec 19, 2017
—
Antelope Valley Mall LLC
—
Loan Modification
related
$100,000,000 · Miscellaneous Ins Co
Nov 26, 2014
—
Antelope Valley Mall LLC
—
Loan Modification
related
$100,000,000 · Miscellaneous Ins Co
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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