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Property profile & analytics
FOR LEASE
Manufacturing properties
1311 Schilling Pl, Salinas, CA 93901
Entity Owned
Free & Clear
Property ID
US09-2934070
For Lease
1 / 2
$7 SF/Yr
1311 Schilling Pl, Salinas, CA 93901
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
FOOD PROCESSING
Year built
1978
Total area
27,000 SF
Lot
20.19 ac (879,476 SF)
APN
177-181-001-000
UPID
US09-2934070
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
-
Salinas Valley Public Warehouse Warehouse & Storage
-
All Pac Corporation Medical Clinic
-
Bunzl Agriculture Group Agricultural Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.89M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$15.43M
Blend (final)
Blend
$15.30M
Owner & transaction history
1311 Schilling LLC
1311 Schilling LLC
since 2025
Last sale
$14.9M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$14.6M
+31.8%
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
$20,350,000
ML approach
$10,890,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$11,100,000
Current use
RESTAURANT
$14,625,000
Change: +32% · Conversion: Difficult
AUTO REPAIR, GARAGE
$10,770,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$15.30M
Range $13.77M – $16.82M · ±10% · vs last sale $14.90M (Jun 29 2021)
Last sale anchor
$14.90M
Jun 29 2021
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
$566 / 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
$220,180
Tax year 2023
Assessed value
$18,811,478
Assessed 2023
Previous assessed
$18,811,478
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$11,362,639
Assessed improvement
$7,448,839
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
Manufacturing properties
Use group
FOOD PROCESSING
Status
For Lease
Year built
1978
Heating
NONE
Buildings
5
Stories
1
Total area
27,000 SF
Lot
20.19 ac (879,476 SF)
APN
177-181-001-000
UPID
US09-2934070
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
INDUSTRIAL (GENERAL) Current
Est. value
$11.1M
RESTAURANT
Est. value
$14.6M
AUTO REPAIR, GARAGE
Est. value
$10.8M
INDUSTRIAL (GENERAL) Current
RESTAURANT
AUTO REPAIR, GARAGE
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
1978
Heating
NONE
Stories
1
Buildings
5
Lot
20.19 ac
Current owner
From public records · entity-resolved
1311 Schilling LLC
Entity
Free & Clear · 0 yrs held
Mailing address
96 N 3RD ST STE #110, SAN JOSE, CA 95112-7703
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 15, 2025
—
1311 Schilling LLC
Dusan Jobiet Miletich
Grant Deed
—
Jul 23, 2021
—
Madrone Ventures INC
—
Deed
related
$10,928,549 · Bank Of The West
Jun 29, 2021
—
Madrone Ventures INC
Green Valley Corporation
Quit Claim Deed
related
—
May 18, 2018
—
Green Vly Corp
—
Deed
related
$1,300,000 · Bank Of The West
Mar 14, 2008
$14,900,000
Green Valley Corp
Mccormick & Co INC
Grant Deed
$14,750,000 · Bank Of The West
—
—
Green Vly Corp
—
Deed Of Trust
related
$1,300,000 · Bank Of The West
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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