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Property profile & analytics
OFF-MARKET
Estimated value
$525,000
Motels
111 Ocean St Santa Cruz, CA 95060-5115
Individually Owned
8-yr Hold
~
Est. High Equity
Property ID
US09-0846017
Property profile
Verified
Property type
Motels
Use group
MOTEL
Year built
1979
Construction
WOOD
Total area
4,411 SF
Lot
0.47 ac (20,299 SF)
APN
007-431-13
UPID
US09-0846017
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
-
Ocean Gate Inn Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$525k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$524k
Blend (final)
Blend
$525k
Owner & transaction history
Ashish Patel · 8 yrs held
Ashish Patel
since 2017
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$750,000
+142.2%
Retail stores
$750,000
+141.8%
Auto repair, garage
$735,000
+138.0%
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 Santa Cruz submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Cruz 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
$525,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$750,000
Change: +142% · Conversion: Difficult
RETAIL STORES
$750,000
Change: +142% · Conversion: Difficult
AUTO REPAIR, GARAGE
$735,000
Change: +138% · Conversion: Difficult
WAREHOUSE, STORAGE
$385,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$525k
Range $473k – $578k · ±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
$119 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$30,356
Tax year 2024
Assessed value
$2,660,884
Assessed 2024
Previous assessed
$2,660,884
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$1,181,938
Assessed improvement
$1,478,946
Applied tax rate
1.0000
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
Motels
Use group
MOTEL
Status
Off-Market
Year built
1979
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
3
Units
11
Rooms
25
Total area
4,411 SF
Lot
0.47 ac (20,299 SF)
APN
007-431-13
UPID
US09-0846017
Jurisdiction
SANTA CRUZ
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
Est. value
$750,000
RETAIL STORES
Est. value
$750,000
AUTO REPAIR, GARAGE
Est. value
$735,000
WAREHOUSE, STORAGE
Est. value
$385,000
OFFICE BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
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
1979
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
3
Units
11
Rooms
25
Lot
0.47 ac
Current owner
From public records · entity-resolved
Ashish Patel
Individual
Mailing address
111 OCEAN ST, SANTA CRUZ, CA 95060-5115
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 16, 2017
$975,000
Ashish Patel
Neal,robert T JR & Kathy S
Grant Deed
—
Jun 21, 2017
—
Ashishkumar M Patel
—
Deed
related
$2,400,000 · Meriwest Cu
Jul 19, 2011
—
Ashishkumar M Patel
Dylan Management LLC
Grant Deed
$1,910,000 · Santa Cruz Community Cu
Jun 29, 1999
$69,000
Dylan Management LLC
Panchal Trust
Grant Deed
$731,000 · Sierrawest Bank
Mar 16, 1998
—
Dylan Managemnet Co
Panchal,hareshkumar & Manorama H
Grant Deed
related
—
Dec 30, 1997
—
Paresh Patel
Panchal,hareshkumar N & Manorama
Grant Deed
related
—
Dec 6, 1993
—
Panchal Trust
Panchal,hareshku
Quit Claim Deed
related
—
Jun 1, 1992
$497,500
Hareshkumar N Panchal
Watts,howard A
Grant Deed
related
$150,000 · Seller
May 26, 1992
$1,000
Howard A Watts
Kim,kwang S
Trustees Deed
related
—
Jun 3, 1985
$1,000,000
Kwang Sung|jung Bock Kim
Watts,howard A & Annette
Grant Deed
related
—
—
—
Dylan Management LLC
—
Deed Of Trust
related
$1,095,000 · Pinnacle Bank
—
—
Hareshkumar N Panchal
—
Deed Of Trust
related
$800,000 · Coast Commercial Bank
—
—
Dylan Management LLC
—
Deed Of Trust
related
$102,231 · Trabano Trust
—
—
Ashishkumar M Patel
—
Deed Of Trust
related
$2,400,000 · Meriwest Cu
—
—
Dylan Management LLC
—
Deed Of Trust
related
$750,000 · Bank Of The West
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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