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Property profile & analytics
OFF-MARKET
Estimated value
$1,635,000
Retail properties & Spaces
120 Johnsen Ln, Watsonville, CA 95076-0439
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-0250409
Property profile
Verified
Property type
Retail properties & Spaces
Use group
NURSERY, GREENHOUSE, FLORIST
Year built
1981
Construction
WOOD
Total area
12,559 SF
Lot
43 ac (1,873,080 SF)
Zoning code
RA,CA
APN
049-091-31
UPID
US09-0250409
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.64M
Owner & transaction history
Freedom Greenhouse INC · 4 yrs held
Freedom Greenhouse INC
since 2022
7 recorded transactions
Zoning & alternative use
RA,CA · Watsonville, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.3M
+14.7%
Auto repair, garage
$2.2M
+6.9%
Office building
$2.2M
+5.5%
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 Watsonville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Watsonville 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
Alternative Use
Use
Estimation
FARM SUPPLY & EQUIPMENT (COMMERCIAL)
$2,040,000
Current use
COMMERCIAL (GENERAL)
$2,340,000
Change: +15% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,180,000
Change: +7% · Conversion: Difficult
OFFICE BUILDING
$2,150,000
Change: +5% · Conversion: Difficult
RESTAURANT
$2,090,000
Change: +2% · Conversion: Difficult
MEDICAL BUILDING
$2,015,000
Change: -1% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$1,890,000
Change: -8% · Conversion: Difficult
Blend value · Realmo final
$1.64M
Range $1.47M – $1.80M · ±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
$130 / 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
$66,033
Tax year 2024
Assessed value
$6,029,077
Assessed 2024
Previous assessed
$6,029,077
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$1,538,671
Assessed improvement
$4,490,406
Applied tax rate
69.0000
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
Retail properties & Spaces
Use group
NURSERY, GREENHOUSE, FLORIST
Status
Off-Market
Year built
1981
Construction
WOOD
Heating
NONE
Stories
2
Units
1
Rooms
4
Bathrooms
4
Total area
12,559 SF
Lot
43 ac (1,873,080 SF)
Zoning code
RA,CA
APN
049-091-31
UPID
US09-0250409
Jurisdiction
SANTA CRUZ
Zoning & alternative use
RA,CA · Watsonville, CA
Zoning RA,CA · permitted uses
RA,CA · Watsonville, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Watsonville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
FARM SUPPLY & EQUIPMENT (COMMERCIAL) Current
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$2.3M
AUTO REPAIR, GARAGE
Est. value
$2.2M
OFFICE BUILDING
Est. value
$2.2M
RESTAURANT
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$1.9M
FARM SUPPLY & EQUIPMENT (COMMERCIAL) Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
RESTAURANT
MEDICAL BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1981
Construction
WOOD
Heating
NONE
Stories
2
Units
1
Rooms
4
Bathrooms
4
Lot
43 ac
Current owner
From public records · entity-resolved
Freedom Greenhouse INC
Entity
Mailing address
2897 FREEDOM BLVD, WATSONVILLE, CA 95076-0404
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 2, 2025
—
Freedom Greenhouse INC
—
Deed
related
$200,000 · Robert Jacobs
Jul 13, 2023
—
Freedom Greenhouse INC
—
Deed
related
$525,000 · Robert S Schonefeld 2021 Living Trust
Dec 14, 2022
—
Freedom Greenhouse INC
—
Deed
related
$1,250,000 · Robert S Schonefeld 2021 Living Trust
May 9, 2022
—
Freedom Greenhouse INC
Jacobs Farm Del Cabo INC
Grant Deed
—
Jul 28, 2017
—
Jacobs Farmdel Cabo INC
—
Deed
related
$2,000,000 · American Agcredit Aca
Jan 26, 2011
$4,800,000
Jacobs Farm / Del Cabo INC
Freedom Land Company LLC
Grant Deed
$1,255,000 · American Agcredit Pca
Jun 29, 2007
$5,100,000
Freedom Land Co LLC
Johnsen Nurseries INC
Grant Deed
$4,750,000 · Johnsen Nurseries INC
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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