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Property profile & analytics
OFF-MARKET
Estimated value
$2,925,000
Office buildings
1061 3rd St South Lake Tahoe, CA 96150-3475
Individually Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-0831994
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2002
Construction
WOOD
Total area
13,637 SF
Lot
2.07 ac (90,169 SF)
Zoning code
HDR
APN
023-362-024-000
UPID
US09-0831994
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
-
California Tahoe Conservancy State Government Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.68M
Comparable Approach
Comparable
$2.80M
Blend (final)
Blend
$2.93M
Owner & transaction history
John B Mckenzie · 10 yrs held
John B Mckenzie
since 2016
7 recorded transactions
Zoning & alternative use
HDR · South Lake Tahoe, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
sltah36.fm
Top alternative use upside
Restaurant
$3.7M
+52.0%
Retail stores
$3.4M
+38.9%
Medical building
$2.6M
+6.7%
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 South Lake Tahoe submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Lake Tahoe 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%
$3,985,000
6.5%
$3,680,000
7%
$3,415,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,450,000
Current use
RESTAURANT
$3,730,000
Change: +52% · Conversion: Moderate
RETAIL STORES
$3,405,000
Change: +39% · Conversion: Moderate
MEDICAL BUILDING
$2,615,000
Change: +7% · Conversion: Easy
WAREHOUSE, STORAGE
$2,355,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$2.93M
Range $2.63M – $3.22M · ±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
$214 / 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
$36,889
Tax year 2023
Assessed value
$3,423,909
Assessed 2023
Previous assessed
$3,423,909
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$248,613
Assessed improvement
$3,175,296
Applied tax rate
2.0000
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
Status
Off-Market
Year built
2002
Construction
WOOD
Heating
NONE
Stories
2
Rooms
2
Bathrooms
2
Total area
13,637 SF
Lot
2.07 ac (90,169 SF)
Zoning code
HDR
APN
023-362-024-000
UPID
US09-0831994
Jurisdiction
EL DORADO
Zoning & alternative use
HDR · South Lake Tahoe, CAZoning HDR · permitted uses
HDR · South Lake Tahoe, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
sltah36.fm
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.5M
RESTAURANT
Est. value
$3.7M
RETAIL STORES
Est. value
$3.4M
MEDICAL BUILDING
Est. value
$2.6M
WAREHOUSE, STORAGE
Est. value
$2.4M
OFFICE BUILDING Current
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
WAREHOUSE, STORAGE
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
2002
Construction
WOOD
Heating
NONE
Stories
2
Rooms
2
Bathrooms
2
Lot
2.07 ac
Current owner
From public records · entity-resolved
John B Mckenzie
Individual
Free & Clear · 10 yrs held
Mailing address
2163 WHITE SANDS DR, SOUTH LAKE TAHOE, CA 96150-6706
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 15, 2016
—
John B Mckenzie
Howley,martin A
Quit Claim Deed
related
—
Dec 14, 2009
—
Emerald Bay Props Ca
Owner Name Unavailable
Grant Deed
related
—
Mar 28, 2008
—
Emerald Bay Properties LLC
Groelz,ross W & Doris M
Grant Deed
—
Dec 31, 2007
—
Owner Name Unavailable
Owner Name Unavailable
Grant Deed
related
—
May 17, 2002
$4,155
Ross W Groelz
South Lake Tahoe City (ca)
Grant Deed
—
Jan 4, 1999
$165,000
Ross W Groelz
Pratt Trust
Grant Deed
$100,000 · Seller
Oct 10, 1997
—
Raed S Fawaz
Fawaz,khaled S
Quit Claim Deed
related
—
Sep 15, 1997
—
Robert Tunney
Construction Co
Grant Deed
related
—
—
—
Emerald Bay Properties LLC
—
Loan Modification
related
$770,000 · Umpqua 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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