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Property profile & analytics
OFF-MARKET
Estimated value
$5,455,000
Flex space
1005 17th Ave Santa Cruz, CA 95062-3033
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-1773488
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1957
Construction
TILT-UP CONCRETE
Total area
34,026 SF
Lot
2.08 ac (90,431 SF)
Zoning code
M-1
APN
026-311-58
UPID
US09-1773488
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
-
Trick or treat studios warehouse Warehouse & Storage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.46M
Owner & transaction history
Madrone Partners LLC · 8 yrs held
Madrone Partners LLC
since 2018
6 recorded transactions
Zoning & alternative use
M-1 · Santa Cruz, 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 Santa Cruz submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Cruz 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
INDUSTRIAL (GENERAL)
$8,475,000
Current use
Blend value · Realmo final
$5.46M
Range $4.91M – $6.00M · ±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
$160 / 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
$48,668
Tax year 2024
Assessed value
$4,238,973
Assessed 2024
Previous assessed
$4,238,973
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$2,677,246
Assessed improvement
$1,561,727
Applied tax rate
82.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1957
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Total area
34,026 SF
Lot
2.08 ac (90,431 SF)
Zoning code
M-1
APN
026-311-58
UPID
US09-1773488
Jurisdiction
SANTA CRUZ
Zoning & alternative use
M-1 · Santa Cruz, CA
Zoning M-1 · permitted uses
M-1 · Santa Cruz, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Santa Cruz. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$8.5M
INDUSTRIAL (GENERAL) Current
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
1957
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Lot
2.08 ac
Current owner
From public records · entity-resolved
Madrone Partners LLC
Entity
Free & Clear · 8 yrs held
Mailing address
4375 CAPITOLA RD, CAPITOLA, CA 95010-3517
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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 9, 2020
—
Madrone Partners LLC
—
Deed
related
$6,300,000 · Comerica Bk
May 31, 2018
$10,050,000
Madrone Partners LLC
The John A Bruzzone SR Family Partn
Grant Deed
—
Nov 3, 2011
—
Ledyard Properties
Metropcs Ca LLC
Quit Claim Deed
related
—
Nov 1, 2011
—
John A Bruzzone Fam Ptshp SR.
Ledyard Properties
Grant Deed
$2,633,256 · Santa Cruz County Bank
Dec 11, 2000
—
Ledyard Properties
—
Deed Of Trust
related
$4,850,000 · Bank Of America
—
—
Madrone Partners LLC
—
Deed Of Trust
related
$6,300,000 · Comerica Bk
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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