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Property profile & analytics
OFF-MARKET
Estimated value
$1,925,000
Office buildings
1200 Piedmont Ave, Pacific Grove, CA 93950-5157
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US09-5101375
Property summary
AI-generated overview
This exceptional office property at 1200 Piedmont Avenue in Pacific Grove, California, offers a unique opportunity for businesses seeking premium space. Located in Monterey County, this 7,414 square foot building boasts a variety of executive office suites, perfect for companies of all sizes. Currently, 4,311 square feet of contiguous space is immediately available, with a minimum divisible space of 1,146 square feet. The building, constructed in 1989, is situated on a 0.22-acre lot and features convenient elevator access. The property's multiple tenancy structure provides flexibility for various business needs. Its prime location in Pacific Grove, zip code 93950, offers easy access to local amenities and transportation. This is an ideal opportunity to establish or expand your business in a desirable and well-maintained office setting. The available space is ready for immediate occupancy, providing a seamless transition for your operations. Inquire today to learn more about this exceptional Pacific Grove office space.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1989
Construction
WOOD
Total area
6,469 SF
Lot
0.22 ac (9,505 SF)
APN
007-613-037-000
UPID
US09-5101375
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
$2.03M
CAP Approach
CAP
$1.49M
Comparable Approach
Comparable
$1.41M
Blend (final)
Blend
$1.93M
Owner & transaction history
Richard Raynes · 2 yrs held
Richard Raynes
since 2023
Last sale
$1.9M
7 recorded transactions
Zoning & alternative use
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 Pacific Grove submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pacific Grove 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
$1,910,000
ML approach
$2,030,000
CAP Approach
CAP Return
Estimation
6%
$1,615,000
6.5%
$1,490,000
7%
$1,385,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,675,000
Current use
INDUSTRIAL (GENERAL)
$2,660,000
Change: -1% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,580,000
Change: -4% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,560,000
Change: -4% · Conversion: Easy
Blend value · Realmo final
$1.93M
Range $1.73M – $2.12M · ±10% · vs last sale $1.89M (Jul 17 2023)
Last sale anchor
$1.89M
Jul 17 2023
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
$298 / 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
$21,737
Tax year 2023
Assessed value
$1,961,154
Assessed 2023
Previous assessed
$1,961,154
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$832,320
Assessed improvement
$1,128,834
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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 (MULTI-STORY)
Status
Off-Market
Year built
1989
Construction
WOOD
Heating
NONE
Stories
2
Units
1
Rooms
9
Bathrooms
2
Total area
6,469 SF
Lot
0.22 ac (9,505 SF)
APN
007-613-037-000
UPID
US09-5101375
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
OFFICE BUILDING Current
Est. value
$2.7M
INDUSTRIAL (GENERAL)
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.6M
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1989
Construction
WOOD
Heating
NONE
Stories
2
Units
1
Rooms
9
Bathrooms
2
Lot
0.22 ac
Current owner
From public records · entity-resolved
Richard Raynes
Individual
Mailing address
18805 ADAMS CT STE #130, MORGAN HILL, CA 95037-8123
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2023
—
Richard Raynes
Monterey Morgan Hill LLC
Intrafamily Transfer
related
—
May 4, 2021
—
Stephan Lins
Diana Rose Lins
Intrafamily Transfer
related
—
Apr 30, 2021
$1,885,000
Monterey Morgan Hill LLC
Patrick A Scheufler
Grant Deed
—
Apr 30, 2021
—
Ilge Karancak
Joseph D Splane III
Intrafamily Transfer
related
—
Apr 14, 2021
—
Patrick A Scheufler
Piedmont Building LLC
Grant Deed
—
Oct 24, 2008
$1,340,000
Piedmont Building LLC
Taluban B A Living Trust
Grant Deed
$1,005,000 · Union Bank Of California
Dec 14, 2005
—
Decarli Eddie A Trust
Decarli,eddie A
Quit Claim Deed
related
—
Nov 16, 2005
—
Taluban Belinda A Trust
Taluban,belinda
Quit Claim Deed
related
—
Sep 17, 2004
—
Eddie A Decarli
Decarli,bessie M
Quit Claim Deed
related
—
Sep 17, 2004
$1,630,100
Belinda Taluban
Shoreline Cmnty Church Of Montere
Grant Deed
$1,100,000 · Community Bank Central Ca
Mar 26, 2004
$4,600,000
Shoreline Community Church Of
Starlight International Ltd LP
Grant Deed
$4,415,000 · Community Bank Central Ca
Jul 17, 1998
—
Nancy Kelleher
Kelleher,gerald
Quit Claim Deed
related
—
Jul 17, 1998
$925,000
Shoreline Community Church
Royce Trust
Trustees Deed
$625,000 · Wells Fargo Bank
Jan 12, 1996
—
Royce Trust
Pacific Grove Associates
Grant Deed
related
—
—
—
Piedmont Building LLC
—
Deed Of Trust
related
$800,000 · Rabobank
—
—
Shorline Community Church Of
—
Deed Of Trust
related
$300,000 · Community Bank Central Ca
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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