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Property profile & analytics
OFF-MARKET
Estimated value
$3,290,000
Retail residential properties
1515 Commercial Way, Santa Cruz, CA 95065-1701
Entity Owned
9-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-0171011
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1947
Construction
WOOD
Total area
12,074 SF
Lot
0.64 ac (27,791 SF)
Zoning code
C-2
APN
025-071-05
UPID
US09-0171011
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
-
Santa Cruz Flavors (Bike/Boat/Book/etc) Store
-
3 Bros Midtown (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.50M
Blend (final)
Blend
$3.29M
Owner & transaction history
Plymouth Grant LLC · 9 yrs held
Plymouth Grant LLC
since 2017
7 recorded transactions
Zoning & alternative use
C-2 · Santa Cruz, CA
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 Santa Cruz submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Cruz 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
Blend value · Realmo final
$3.29M
Range $2.96M – $3.62M · ±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
$272 / 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
$20,182
Tax year 2024
Assessed value
$1,611,910
Assessed 2024
Previous assessed
$1,611,910
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$745,278
Assessed improvement
$866,632
Applied tax rate
96.0000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1947
Construction
WOOD
Heating
NONE
Stories
2
Units
1
Total area
12,074 SF
Lot
0.64 ac (27,791 SF)
Zoning code
C-2
APN
025-071-05
UPID
US09-0171011
Jurisdiction
SANTA CRUZ
Zoning & alternative use
C-2 · Santa Cruz, CA
Zoning C-2 · permitted uses
C-2 · Santa Cruz, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Santa Cruz. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1947
Construction
WOOD
Heating
NONE
Stories
2
Units
1
Lot
0.64 ac
Current owner
From public records · entity-resolved
Plymouth Grant LLC
Entity
Mailing address
4375 CAPITOLA RD, CAPITOLA, CA 95010-3517
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 23, 2022
—
Plymouth Grant LLC
—
Deed
related
$1,420,000 · Joseph W Appenrodt
Feb 26, 2019
—
Plymouth-grant LLC
—
Loan Modification
related
$1,420,000 · Lighthouse Bk
Feb 28, 2017
$2,075,000
Plymouth Grant LLC
Bei Scott Company LLC
Grant Deed
$1,305,000 · Lighthouse Bank
May 7, 2003
$1,250,000
Bei-scott Co LLC
Santa Cruz Clean & Sober Homes
Grant Deed
—
Jul 10, 1995
—
Clean Santa Cruz
Santa Cruz Clean & Sober Homes
Quit Claim Deed
related
—
Jul 7, 1995
—
Clean Santa Cruz
Santa Cruz Clean & Sober Homes
Quit Claim Deed
related
$425,000 · Claude L Mccombs Trustee
—
—
Assoc Recovery Western
—
Deed Of Trust
related
$53,687 · Christopher G Smit
—
—
Assoc Re Western
—
Deed Of Trust
related
$250,000 · Individual
—
—
Bei-scott Co LLC
—
Deed Of Trust
related
$1,000,000 · Community Bank Central Ca
—
—
Western Assn For Recovery
—
Deed Of Trust
related
$395,000 · Leaf Trust
—
—
Clean Santa Cruz
—
Deed Of Trust
related
$640,000 · Caulfield Trust
—
—
Clean Santa Cruz
—
Deed Of Trust
related
$475,000 · Aspromonte Enterprises 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.
Try Rey
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