Individually Owned Property summary
AI-generated overview
A historic, landmark newspaper building in downtown Salinas, California, located at 123 W. Alisal Street directly across from the Monterey County Courthouse, providing street frontage and convenient public access. The property covers approximately 0.85 acres and includes a building of about 34,188 sq. ft. (the listing description references 37,213 sq. ft.). It is configured with features suited to light commercial and service use, including ample storage areas and roll-up doors, along with a private 24-space parking lot. The zoning designation is CO/R, and the building is adaptable for a range of commercial uses.
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1932
Construction
WOOD
Total area
1,689 SF
Lot
0.18 ac (7,756 SF)
APN
002-221-013-000
UPID
US10-3020962
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Alternative Medicine Practice
-
Roofing Company General Contractor
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$850k
CAP Approach
CAP
$430k
Comparable Approach
Comparable
$922k
Blend (final)
Blend
$850k
Owner & transaction history
since 2021
Last sale
$623,000
7 recorded transactions
Zoning & alternative use
Top alternative use upside
Auto repair, garage
$675,000
+34.8%
Medical building
$525,000
+4.6%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 3 comparables with addresses
5 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$850k
Value range
$765k – $935k
±10% around blend
Estimated value / SF
$503 / SF
Confidence
Low
3 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
30
$765k
blend $850k
$935k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
1,689 SF
Lot area
0.18 ac
Year built
1932
Stories
1
APN
002-221-013-000
Assessed value
$654,882
Annual tax
$7,710
3
Income approach: direct capitalization
Partial preview
Income approach indication
$430k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$465k
@ 6.5% CAP return
$430k
@ 7% CAP return
$395k
4
Sales comparison
Partial preview
Sales approach indication
$771k
Weighted, 3 comps · low confidence
Evidence
3 found · 3 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
0.5 mi away · 1,620 SF
18.3 mi away · 1,438 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$850k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 36 sales
$296
+70%
Submarket 48 sales
$293
+72%
County 129 sales
$414
+22%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $503/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+35%
vs current-use indication
Medical Building
Office Building · current use
Retail Stores
Commercial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
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Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 3 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
3.30%
Implied, in-place cap rate for this office buildings
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 3.30%
9.0%
NOI (est.)
$44k *
Last sale · Jan 2021
$623k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.32M
Move the market yield to see immediate price impact.
Value / SF
$782
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
2.80%3.30%3.80%
$39k
$1.40M
$1.19M
$1.03M
$44k
$1.56M
$1.32M
$1.15M
$48k
$1.71M
$1.45M
$1.26M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
3 found
Low confidence · county-verified
Closest comparable
$503k
0.4 mi · Jan 2026 · $417/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$7,710
Tax year 2023
Assessed value
$654,882
Assessed 2023
Previous assessed
$654,882
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$339,529
Assessed improvement
$315,353
Applied tax rate
5.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1932
Construction
WOOD
Heating
NONE
Stories
1
Units
1
Rooms
11
Bathrooms
2
Total area
1,689 SF
Lot
0.18 ac (7,756 SF)
APN
002-221-013-000
UPID
US10-3020962
Jurisdiction
MONTEREY
Zoning & alternative use
Zoning · permitted uses
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release.
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1932
Construction
WOOD
Heating
NONE
Stories
1
Units
1
Rooms
11
Bathrooms
2
Lot
0.18 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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