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Property profile & analytics
OFF-MARKET
Estimated value
$1,375,000
Office buildings
1015 Cass St, Monterey, CA 93940-4536
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US09-1387513
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1948
Construction
WOOD
Total area
4,164 SF
Lot
0.41 ac (17,940 SF)
APN
001-671-034-000
UPID
US09-1387513
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
-
Al-Anon & Al-Ateen Social Service Agency Medical Clinic
-
Integrative Mental Health Medical Clinic
-
Lake James MD Physician
-
Monterey Psychology Physician Medical Clinic
-
Alcoholics Anonymous Social Service Agency Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.41M
CAP Approach
CAP
$960k
Comparable Approach
Comparable
$1.52M
Blend (final)
Blend
$1.38M
Owner & transaction history
Rezai Mahammad · 1 yrs held
Rezai Mahammad
since 2024
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
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 Monterey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monterey 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
$1,220,000
ML approach
$1,405,000
CAP Approach
CAP Return
Estimation
6%
$1,040,000
6.5%
$960,000
7%
$890,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,265,000
Current use
COMMERCIAL (GENERAL)
$2,090,000
Change: -8% · Conversion: Easy
Blend value · Realmo final
$1.38M
Range $1.24M – $1.51M · ±10% · vs last sale $1.37M (Sep 27 2024)
Last sale anchor
$1.37M
Sep 27 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
$330 / 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
$16,699
Tax year 2023
Assessed value
$1,458,600
Assessed 2023
Previous assessed
$1,458,600
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$836,400
Assessed improvement
$622,200
Applied tax rate
3.0000
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 (MULTI-STORY)
Status
Off-Market
Year built
1948
Construction
WOOD
Heating
NONE
Buildings
2
Stories
2
Rooms
25
Bathrooms
15
Total area
4,164 SF
Lot
0.41 ac (17,940 SF)
APN
001-671-034-000
UPID
US09-1387513
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
$2.3M
COMMERCIAL (GENERAL)
Est. value
$2.1M
OFFICE BUILDING Current
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
1948
Construction
WOOD
Heating
NONE
Stories
2
Buildings
2
Rooms
25
Bathrooms
15
Lot
0.41 ac
Current owner
From public records · entity-resolved
Rezai Mahammad
Individual
Mailing address
1240 MUNRAS AVE, MONTEREY, CA 93940-6107
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
17 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 27, 2024
$1,365,000
Rezai Mahammad
Jayesh Desai
Grant Deed
$150,000 · Jay Desei Etal
Jun 17, 2022
—
Mohammad Rezai
—
Deed
related
$1,000,000 · James And Ardelle Gilbert Trust
Jul 20, 2021
$1,430,000
Jayesh Desai
Laxmi Patel
Grant Deed
—
Jul 20, 2021
—
Mohammad Rezai
Fatemeh Assar
Intrafamily Transfer
related
$180,000 · Belvnus LLC
Jun 30, 2021
$1,430,000
Laxmi Patel
Von 20 Munras LP
Grant Deed
$460,000 · Belvnus LLC
Jun 30, 2021
—
Laxmi Patel
Jagdish Patel
Intrafamily Transfer
related
—
Dec 31, 2019
$1,395,000
Von 20 Munras LP
Residential H Trust
Grant Deed
$976,500 · Survivor H Trust (pt)
Dec 23, 2014
—
Victoria Hambrook
Hambrook,victoria
Quit Claim Deed
related
—
May 27, 2014
—
Rudoni,michael S Living Trust
Rudoni,michael S
Quit Claim Deed
related
—
Apr 7, 2014
—
Rudoni Trust
Rudoni,frances M
Affidavit Of Death
related
—
Mar 27, 2012
—
Hambrook-howells Trust B
Hambrook-howells Trust
Quit Claim Deed
related
—
Jul 19, 2011
—
Victoria Hambrook
Hambrook,marjorie H
Quit Claim Deed
related
—
Mar 16, 2006
—
John W Steinke
Hambrook,marjorie H
Affidavit Of Death
related
—
Nov 1, 2001
—
Hambrook-howells Trust
Hambrook-howells Trust
Quit Claim Deed
related
—
Sep 1, 1995
—
Hambrook Trust
Hambrook,phillip C & Renate H
Quit Claim Deed
related
—
May 3, 1995
—
Rudoni Trust
Rudoni Trust
Quit Claim Deed
related
—
Jun 28, 1994
—
Rudoni Trust
Rudoni,edmund J
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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