New search
Property profile & analytics
OFF-MARKET
Estimated value
$610,000
Manufacturing properties
16020 Empire Grade, Santa Cruz, CA 95060-9647
Entity Owned
30-yr Hold
Free & Clear
Property ID
US09-1579085
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
2014
Construction
WOOD
Total area
1,784 SF
Lot
515.26 ac (22,444,595 SF)
Zoning code
SU
APN
086-281-21
UPID
US09-1579085
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
-
Lockheed Martin Space Systems Corporate Office Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$690k
CAP Approach
CAP
$550k
Comparable Approach
Comparable
$581k
Blend (final)
Blend
$610k
Owner & transaction history
Big Creek Timber Co · 30 yrs held
Big Creek Timber Co
since 1996
2 recorded transactions
Zoning & alternative use
SU · Santa Cruz, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$925,000
+108.4%
Office building
$770,000
+72.8%
Auto repair, garage
$715,000
+60.6%
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
$690,000
CAP Approach
CAP Return
Estimation
6%
$595,000
6.5%
$550,000
7%
$510,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$445,000
Current use
MEDICAL BUILDING
$925,000
Change: +108% · Conversion: Difficult
OFFICE BUILDING
$770,000
Change: +73% · Conversion: Difficult
AUTO REPAIR, GARAGE
$715,000
Change: +61% · Conversion: Easy
WAREHOUSE, STORAGE
$620,000
Change: +40% · Conversion: Easy
Blend value · Realmo final
$610k
Range $549k – $671k · ±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
$342 / 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
$395,639
Tax year 2024
Assessed value
$14,322,476
Assessed 2024
Previous assessed
$14,322,476
+0.0% YoY
Effective rate
2.76%
On assessed value
Assessed land
$1,622,187
Assessed improvement
$12,700,289
Applied tax rate
90.0000
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
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
2014
Construction
WOOD
Heating
NONE
Units
5
Total area
1,784 SF
Lot
515.26 ac (22,444,595 SF)
Zoning code
SU
APN
086-281-21
UPID
US09-1579085
Jurisdiction
SANTA CRUZ
Zoning & alternative use
SU · Santa Cruz, CA
Zoning SU · permitted uses
SU · 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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$445,000
MEDICAL BUILDING
Est. value
$925,000
OFFICE BUILDING
Est. value
$770,000
AUTO REPAIR, GARAGE
Est. value
$715,000
WAREHOUSE, STORAGE
Est. value
$620,000
INDUSTRIAL (GENERAL) Current
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2014
Construction
WOOD
Heating
NONE
Units
5
Lot
515.26 ac
Current owner
From public records · entity-resolved
Big Creek Timber Co
Entity
Free & Clear · 30 yrs held
Mailing address
PO BOX 61511, KING OF PRUSSIA, PA 19406-0911
Ownership since
1996
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 26, 1996
$36,000
Big Creek Timber Co
Locatelli,gemma
Grant Deed
—
Apr 21, 1993
$260,000
Big Creek Timber Co
Locatelli,julio
Grant Deed
—
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?”
You own 16020 Empire Grade?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
