Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$14,750,000
Warehouses
Transit Ave Union City, CA 94587
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6648388
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1969
Construction
TILT-UP CONCRETE
Total area
53,960 SF
Lot
2.42 ac (105,415 SF)
APN
475-90-26
UPID
US09-6648388
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
$14.75M
CAP Approach
CAP
$12.67M
Comparable Approach
Comparable
$12.39M
Blend (final)
Blend
$14.75M
Owner & transaction history
Fortinet INC · 2 yrs held
Fortinet INC
since 2024
Last sale
$14.8M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$22.9M
+107.3%
Medical building
$21.3M
+92.9%
Office building
$18.3M
+65.5%
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 Union City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Union City 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
$14,750,000
ML approach
$14,750,000
CAP Approach
CAP Return
Estimation
6%
$13,725,000
6.5%
$12,665,000
7%
$11,765,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$11,060,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$22,925,000
Change: +107% · Conversion: Moderate
MEDICAL BUILDING
$21,335,000
Change: +93% · Conversion: Difficult
OFFICE BUILDING
$18,300,000
Change: +65% · Conversion: Difficult
AUTO REPAIR, GARAGE
$17,375,000
Change: +57% · Conversion: Easy
RETAIL STORES
$15,310,000
Change: +38% · Conversion: Moderate
COMMERCIAL (GENERAL)
$15,110,000
Change: +37% · Conversion: Difficult
Blend value · Realmo final
$14.75M
Range $13.28M – $16.23M · ±10% · vs last sale $14.75M (Jan 29 2024)
Last sale anchor
$14.75M
Jan 29 2024
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
$273 / 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
$95,273
Tax year 2024
Assessed value
$7,338,874
Assessed 2024
Previous assessed
$7,338,874
+0.0% YoY
Effective rate
1.30%
On assessed value
Assessed land
$2,389,401
Assessed improvement
$4,949,473
Applied tax rate
15.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1969
Construction
TILT-UP CONCRETE
Heating
NONE
Buildings
1
Stories
1
Total area
53,960 SF
Lot
2.42 ac (105,415 SF)
APN
475-90-26
UPID
US09-6648388
Jurisdiction
ALAMEDA
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
WAREHOUSE, STORAGE Current
Est. value
$11.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$22.9M
MEDICAL BUILDING
Est. value
$21.3M
OFFICE BUILDING
Est. value
$18.3M
AUTO REPAIR, GARAGE
Est. value
$17.4M
RETAIL STORES
Est. value
$15.3M
COMMERCIAL (GENERAL)
Est. value
$15.1M
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1969
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Buildings
1
Lot
2.42 ac
Current owner
From public records · entity-resolved
Fortinet INC
Entity
Mailing address
899 KIFER RD, SUNNYVALE, CA 94086-5205
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 29, 2024
$14,750,000
Fortinet INC
Northwood Holdings LLC
Grant Deed
—
Aug 1, 2023
—
Northwood Holdings LLC
—
Deed
related
$828,300 · Fremont Bank
Feb 10, 2017
—
Northwood Holdings LLC
—
Deed
related
$3,225,000 · Bank Of The West
Feb 1, 2017
$6,450,000
Northwood Holdings LLC
Chen,andy H C & Phyllis
Grant Deed
$3,225,000 · Bank Of The West
Aug 17, 2016
—
Andy Hong Chiuann Chen
Andy Hong Chiuann Chen
Intrafamily Transfer
related
$1,250,000 · Fremont Bank
Feb 26, 2003
—
Hong-chiunn Chen
—
Trustees Deed
related
$1,400,000 · Bank Of The West
Jun 3, 1999
$2,698,000
Hong-chiuann Chen
General Mills Operations INC
Grant Deed
$1,500,000 · California Bank & Trust
—
—
Hong-chiuann Chen
—
Deed Of Trust
related
$1,200,000 · Bank Of The West
—
—
Hong-chiuann Chen
—
Deed Of Trust
related
$1,150,000 · Fremont Bank
—
—
Northwood Holdings LLC
—
Deed Of Trust
related
$3,225,000 · Bank Of The West
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own Transit Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
