New search
Property profile & analytics
OFF-MARKET
Estimated value
$5,295,000
Flex space
1115 Thompson Ave, Santa Cruz, CA 95062-3253
Individually Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-1182601
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1953
Construction
WOOD
Total area
43,600 SF
Lot
2.32 ac (101,103 SF)
Zoning code
M-1
APN
031-152-24
UPID
US09-1182601
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
-
ANDY'S FINE WOODWORKING Production Facility Furniture & Home Goods
-
Aura Hardwood Lumber Inc Big Box & Wholesale Store Building Supply
-
Woodmaster General Contractor Renovation Specialist
-
Socksmith Design Corporate Office
-
Santa Cruz Saw & Tool (Bike/Boat/Book/etc) Store Building Supply
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.15M
Blend (final)
Blend
$5.30M
Owner & transaction history
William R Raley · 10 yrs held
William R Raley
since 2015
3 recorded transactions
Zoning & alternative use
M-1 · Santa Cruz, CA
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 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$5.30M
Range $4.77M – $5.82M · ±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
$121 / 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
$19,994
Tax year 2024
Assessed value
$1,148,876
Assessed 2024
Previous assessed
$1,148,876
+0.0% YoY
Effective rate
1.74%
On assessed value
Assessed land
$363,235
Assessed improvement
$785,641
Applied tax rate
82.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1953
Construction
WOOD
Heating
NONE
Stories
1
Units
9
Total area
43,600 SF
Lot
2.32 ac (101,103 SF)
Zoning code
M-1
APN
031-152-24
UPID
US09-1182601
Jurisdiction
SANTA CRUZ
Zoning & alternative use
M-1 · Santa Cruz, CA
Zoning M-1 · permitted uses
M-1 · Santa Cruz, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Santa Cruz. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1953
Construction
WOOD
Heating
NONE
Stories
1
Units
9
Lot
2.32 ac
Current owner
From public records · entity-resolved
William R Raley
Individual
Free & Clear · 10 yrs held
Mailing address
461 CHESLEY AVE, MOUNTAIN VIEW, CA 94040-4408
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 31, 2015
—
William R Raley
Howell William
Affidavit Of Death
related
—
Jul 28, 2006
—
Bowers Family Partners LLC
Bowers,thomas C JR
Quit Claim Deed
related
—
Jun 29, 2006
—
Frank H Bowers
Bowers Herbert A Trust 1
Quit Claim Deed
related
—
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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