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Property profile & analytics
OFF-MARKET
Estimated value
$505,000
Showrooms
10501 Merritt St Castroville, CA 95012-3310
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US09-2546542
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1937
Construction
WOOD
Total area
1,432 SF
Lot
0.17 ac (7,500 SF)
APN
030-125-005-000
UPID
US09-2546542
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$505k
CAP Approach
CAP
$305k
Comparable Approach
Comparable
$362k
Blend (final)
Blend
$505k
Owner & transaction history
Alvarez Brothers LLC · 3 yrs held
Alvarez Brothers LLC
since 2022
Last sale
$525,000
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$595,000
+8.9%
Auto repair, garage
$570,000
+5.0%
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 Castroville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Castroville 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
$460,000
ML approach
$505,000
CAP Approach
CAP Return
Estimation
6%
$330,000
6.5%
$305,000
7%
$280,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$545,000
Current use
OFFICE BUILDING
$595,000
Change: +9% · Conversion: Easy
AUTO REPAIR, GARAGE
$570,000
Change: +5% · Conversion: Difficult
MEDICAL BUILDING
$445,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$505k
Range $455k – $556k · ±10% · vs last sale $525k (Sep 22 2022)
Last sale anchor
$525k
Sep 22 2022
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
$353 / 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
$4,156
Tax year 2023
Assessed value
$325,000
Assessed 2023
Previous assessed
$325,000
+0.0% YoY
Effective rate
1.28%
On assessed value
Assessed land
$200,000
Assessed improvement
$125,000
Applied tax rate
99.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1937
Construction
WOOD
Heating
NONE
Buildings
2
Stories
1
Rooms
7
Bathrooms
3
Total area
1,432 SF
Lot
0.17 ac (7,500 SF)
APN
030-125-005-000
UPID
US09-2546542
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
COMMERCIAL (GENERAL) Current
Est. value
$545,000
OFFICE BUILDING
Est. value
$595,000
AUTO REPAIR, GARAGE
Est. value
$570,000
MEDICAL BUILDING
Est. value
$445,000
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
1937
Construction
WOOD
Heating
NONE
Stories
1
Buildings
2
Rooms
7
Bathrooms
3
Lot
0.17 ac
Current owner
From public records · entity-resolved
Alvarez Brothers LLC
Entity
Mailing address
8065 SAN MIGUEL CYN RD, SALINAS, CA 93907-1244
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 22, 2022
$525,000
Alvarez Brothers LLC
Edward M Sanchez
Grant Deed
$400,000 · Edward Sanchez
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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