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Property profile & analytics
OFF-MARKET
Estimated value
$1,880,000
Warehouses
1040 Abbott St Salinas, CA 93901-4571
Individually Owned
3-yr Hold
Free & Clear
Property ID
US09-2008268
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1979
Total area
12,720 SF
Lot
0.83 ac (36,102 SF)
APN
002-881-044-000
UPID
US09-2008268
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
-
Taps CO2 - Salinas Industrial Gas Supplier
-
Barnes Welding Supply - Salinas Big Box & Wholesale Store Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.76M
CAP Approach
CAP
$2.07M
Comparable Approach
Comparable
$1.41M
Blend (final)
Blend
$1.88M
Owner & transaction history
Michael L Barnes · 3 yrs held
Michael L Barnes
since 2023
Last sale
$2.0M
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 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
$1,670,000
ML approach
$1,760,000
CAP Approach
CAP Return
Estimation
6%
$2,235,000
6.5%
$2,065,000
7%
$1,915,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$2,060,000
Current use
Blend value · Realmo final
$1.88M
Range $1.69M – $2.07M · ±10% · vs last sale $1.95M (Apr 19 2023)
Last sale anchor
$1.95M
Apr 19 2023
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
$148 / 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
$22,525
Tax year 2023
Assessed value
$1,950,000
Assessed 2023
Previous assessed
$1,950,000
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$1,000,000
Assessed improvement
$950,000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1979
Heating
NONE
Stories
1
Units
1
Total area
12,720 SF
Lot
0.83 ac (36,102 SF)
APN
002-881-044-000
UPID
US09-2008268
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
WAREHOUSE, STORAGE Current
Est. value
$2.1M
WAREHOUSE, STORAGE 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
1979
Heating
NONE
Stories
1
Units
1
Lot
0.83 ac
Current owner
From public records · entity-resolved
Michael L Barnes
Individual
Free & Clear · 3 yrs held
Mailing address
2825 S ELM AVE STE #101, FRESNO, CA 93706-5460
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 19, 2023
—
Michael L Barnes
Michael L Barnes
Intrafamily Transfer
related
—
Apr 3, 2023
—
Michael Thomas Barnes
Michael Thomas Barnes
Intrafamily Transfer
related
—
Oct 13, 2022
—
Welding Suppliers INC
Douglas Joseph Waters
Re-recorded Document
related
—
Sep 30, 2022
$1,950,000
Fresno Oxygen And Welding Suppliers
Douglas Joseph Waters
Grant Deed
—
Sep 30, 2022
—
Michael T Barnes
Erica Lynn Barnes
Intrafamily Transfer
related
$1,462,500 · Central Valley Community Bank
Apr 14, 2020
—
Waters,douglas & Vicky Trust
Douglas J Waters
Quit Claim Deed
related
—
Apr 23, 2018
—
Douglas J Waters
Wilson Evelyn 2006 F/tr
Quit Claim Deed
related
—
Jul 16, 2015
—
Ogrady,david M 2015 Trust
Ogrady David M
Quit Claim Deed
related
—
Jun 8, 2015
—
David M Ogrady
Ogrady Irma 1991 Trust
Quit Claim Deed
related
—
Aug 21, 2008
—
Yoshimaru 2004 Trust
Yoshimaru,kathleen M
Quit Claim Deed
related
—
Jun 30, 2008
—
Wilson E 2006 Family Trust
Moranda Heirs
Grant Deed
—
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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