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Property profile & analytics
OFF-MARKET
Estimated value
$600,000
Investment properties
118 Central Ave Salinas, CA 93901-2630
Individually Owned
7-yr Hold
~
Est. High Equity
Property ID
US09-3228654
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1938
Construction
TILT-UP CONCRETE
Total area
2,350 SF
Lot
0.26 ac (11,287 SF)
APN
002-163-011-000
UPID
US09-3228654
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
-
Primo Water Refill Big Box & Wholesale Store
-
Central Liquors (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
Central liquor (Bike/Boat/Book/etc) Store Wine and Liquor Store
-
We Pay Cash For Junk Cars Company Clark Auto Repair Shop Auto Parts Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$475k
Comparable Approach
Comparable
$626k
Blend (final)
Blend
$600k
Owner & transaction history
Paul Chan Lee · 7 yrs held
Paul Chan Lee
since 2018
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$935,000
+37.1%
Medical building
$730,000
+6.5%
Office building
$695,000
+1.8%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$515,000
6.5%
$475,000
7%
$445,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$685,000
Current use
AUTO REPAIR, GARAGE
$935,000
Change: +37% · Conversion: Difficult
MEDICAL BUILDING
$730,000
Change: +6% · Conversion: Easy
OFFICE BUILDING
$695,000
Change: +2% · Conversion: Easy
RETAIL STORES
$685,000
Change: +0% · Conversion: Easy
Blend value · Realmo final
$600k
Range $540k – $660k · ±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
$255 / 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
$8,776
Tax year 2023
Assessed value
$637,955
Assessed 2023
Previous assessed
$637,955
+0.0% YoY
Effective rate
1.38%
On assessed value
Assessed land
$302,546
Assessed improvement
$335,409
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1938
Construction
TILT-UP CONCRETE
Heating
NONE
Buildings
2
Stories
1
Rooms
2
Bathrooms
3
Total area
2,350 SF
Lot
0.26 ac (11,287 SF)
APN
002-163-011-000
UPID
US09-3228654
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
$685,000
AUTO REPAIR, GARAGE
Est. value
$935,000
MEDICAL BUILDING
Est. value
$730,000
OFFICE BUILDING
Est. value
$695,000
RETAIL STORES
Est. value
$685,000
COMMERCIAL (GENERAL) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
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
1938
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Buildings
2
Rooms
2
Bathrooms
3
Lot
0.26 ac
Current owner
From public records · entity-resolved
Paul Chan Lee
Individual
Mailing address
612 BONITA DR, APTOS, CA 95003-4804
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 14, 2018
$595,000
Paul Chan Lee
Alice Atwood
Grant Deed
$386,750 · Hanmi Bank
Mar 9, 2006
—
Atwood 2006 Trust
Atwood,stephen
Quit Claim Deed
related
—
Nov 8, 2005
—
Atwood Alice 2005 Trust
Atwood,alice
Quit Claim Deed
related
—
Aug 15, 2005
—
Stephen Atwood
Atwood Y 1999 Family Trust
Quit Claim Deed
related
—
Jun 22, 1999
—
Atwood Trust
Atwood,yvonne
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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