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Property profile & analytics
FOR LEASE
Office buildings
10 Katherine Ave, Salinas, CA 93901
Individually Owned
2-yr Hold
Free & Clear
Property ID
US09-3088417
For Lease
1 / 2
$850,000
10 Katherine Ave, Salinas, CA 93901
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Property summary
AI-generated overview
This 3,100 square foot retail space, located at 10 Katherine Ave, Salinas, CA 93901, is available for $1,225,000 ($295.18/sq ft). Situated on a 4,150 square foot lot, this property boasts a desirable South Main Street location and versatile mixed-use zoning, making it ideal for a variety of businesses. Originally built in 1950 and renovated in 2014, the building offers flexible office space and is currently vacant. The property features a mid-century modern facade and shared parking located at the rear of the building. The interior is currently under remodel and the seller is open to customizing the space to meet a buyer's specific needs. The property's APN is 002-605-003. This presents a unique opportunity for investors and businesses seeking a prominent location in Salinas, California. The building was previously occupied by Century 21 and has been vacant since 2019. This prime location offers excellent visibility and accessibility, making it an attractive investment opportunity.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1950
Construction
TILT-UP CONCRETE
Total area
3,100 SF
Lot
0.1 ac (4,150 SF)
APN
002-605-003-000
UPID
US09-3088417
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
-
Century 21 Advantage Real Estate Agency
-
Wesley Franklin Real Estate Agency
-
LP Mortgage Services Loan Service Bank
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$850k
CAP Approach
CAP
$785k
Comparable Approach
Comparable
$832k
Blend (final)
Blend
$850k
Owner & transaction history
Jayvir R Patel · 2 yrs held
Jayvir R Patel
since 2024
Last sale
$850,000
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.2M
+34.8%
Medical building
$960,000
+4.6%
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 Salinas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salinas 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
$850,000
ML approach
$850,000
CAP Approach
CAP Return
Estimation
6%
$850,000
6.5%
$785,000
7%
$730,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$920,000
Current use
AUTO REPAIR, GARAGE
$1,235,000
Change: +35% · Conversion: Difficult
MEDICAL BUILDING
$960,000
Change: +5% · Conversion: Easy
RETAIL STORES
$905,000
Change: -2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$900,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$850k
Range $765k – $935k · ±10% · vs last sale $850k (Apr 17 2024)
Last sale anchor
$850k
Apr 17 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
$274 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$6,827
Tax year 2023
Assessed value
$568,264
Assessed 2023
Previous assessed
$568,264
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$310,937
Assessed improvement
$257,327
Applied tax rate
5.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1950
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Units
1
Rooms
5
Bathrooms
2
Total area
3,100 SF
Lot
0.1 ac (4,150 SF)
APN
002-605-003-000
UPID
US09-3088417
Jurisdiction
MONTEREY
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
OFFICE BUILDING Current
Est. value
$920,000
AUTO REPAIR, GARAGE
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$960,000
RETAIL STORES
Est. value
$905,000
COMMERCIAL (GENERAL)
Est. value
$900,000
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1950
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Units
1
Rooms
5
Bathrooms
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
Jayvir R Patel
Individual
Free & Clear · 2 yrs held
Mailing address
408 MIRADOR CT, MONTEREY, CA 93940-7616
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 17, 2024
—
Jayvir R Patel
Jayvir R Patel
Intrafamily Transfer
related
—
Oct 10, 2023
$850,000
Jayvir R Patel
Martin Bernal
Grant Deed
$477,000 · Venita Trust
Oct 10, 2023
—
Jayvir R Patel
Nisha J Patel
Intrafamily Transfer
related
$245,500 · Martin Bemal
May 22, 2019
—
Hector Campos
Guadalupe C Soto
Quit Claim Deed
$477,000 · Venita Trust (pt)
May 22, 2019
$530,000
Martin Bernal
Venita Trust
Grant Deed
$477,000 · Venita Trust (pt)
Nov 9, 2016
—
Venita Trust
Powers,john G & Venita L
Quit Claim Deed
related
—
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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