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Property profile & analytics
OFF-MARKET
Estimated value
$4,045,000
Office buildings
1020 Merrill St C-A, Salinas, CA 93901-4495
Entity Owned
23-yr Hold
~
Est. High Equity
Property ID
US09-0179791
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1996
Construction
WOOD
Total area
19,075 SF
Lot
0.93 ac (40,423 SF)
APN
002-881-038-000
UPID
US09-0179791
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
-
Condor Security Of America, Inc Security Service
-
EBX Logistics, Inc. Logistics Company Freight Service
-
Sunset Detox Crisis Center Medical Clinic
-
Child Evangelism Fellowship NorCal Central Coast Child Welfare Organization Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.84M
Comparable Approach
Comparable
$4.69M
Blend (final)
Blend
$4.05M
Owner & transaction history
Aladin Properties LP · 23 yrs held
Aladin Properties LP
since 2003
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$5.9M
+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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$5,235,000
6.5%
$4,835,000
7%
$4,490,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,645,000
Current use
MEDICAL BUILDING
$5,905,000
Change: +5% · Conversion: Easy
RETAIL STORES
$5,560,000
Change: -2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$5,550,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$4.05M
Range $3.64M – $4.45M · ±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
$212 / 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
$36,896
Tax year 2023
Assessed value
$3,201,813
Assessed 2023
Previous assessed
$3,201,813
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$775,110
Assessed improvement
$2,426,703
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 (MULTI-STORY)
Status
Off-Market
Year built
1996
Construction
WOOD
Heating
NONE
Units
1
Rooms
4
Bathrooms
3
Total area
19,075 SF
Lot
0.93 ac (40,423 SF)
APN
002-881-038-000
UPID
US09-0179791
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
$5.6M
MEDICAL BUILDING
Est. value
$5.9M
RETAIL STORES
Est. value
$5.6M
COMMERCIAL (GENERAL)
Est. value
$5.6M
OFFICE BUILDING Current
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
1996
Construction
WOOD
Heating
NONE
Units
1
Rooms
4
Bathrooms
3
Lot
0.93 ac
Current owner
From public records · entity-resolved
Aladin Properties LP
Entity
Mailing address
11420 COMMERCIAL PKWY STE A, CASTROVILLE, CA 95012-3214
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 16, 2003
—
Aladin Properties LP
Dombovic,ladislav S
Grant Deed
related
—
—
—
Aladin Properties
—
Deed Of Trust
related
$1,700,000 · Community Bank Central Ca
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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