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    Property profile & analytics

    16475 Blackie Rd Salinas, CA 93907

    • Agricultural land / Farmland
    For Sale
    View listing
    $9,450,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2598250
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Agricultural land / Farmland

    Property Details for 16475 Blackie Rd

    Property type
    Agricultural land / Farmland
    Property subtype
    Farms

    Description

    The Rouse Ridge Ranch is located in unincorporated North Salinas Valley and consists of approximately 262 beautiful slightly rolling agricultural acres. Situated in a prime location with farming of irrigated row crops, strawberries, blackberries & raspberries. This farmland has been maintained by th ... e current lease holder, a grower for Driscoll. There are two highly productive wells, one located on each of 2 legal parcels with high pressure underground distribution lines. Each deep well produces approximately 1,200/1,400 GPM and both have concrete sanitary seals. Well maintained road infrastructure for harvesting and ideal access from Blackie Road which connects to Highway 101 with an easy haul over to 183 and HWY 1. Possible opportunity for development on Parcel 1, which is the eastern parcel and zoned Low Density Residential 2.5 acres per unit - Design Control District. There are some possible development sites with gentle meadow lands and vistas over to Fremont Peak. Property is not in the Williamson Act. Survey of entire property just completed and on file with Monterey County. Sellers have actively maintained all permits and conditions with County and State. Seller OK with 1031 exchange.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Salinas
    County
    Monterey
    State
    California
    Longitude
    -121.6822593
    Latitude
    36.7827895

    Comparable in this City

    • $9,450,000

      262 Acre Salinas Valley Ranch

      Prime agricultural land in North Salinas Valley with development potential.
      16475 Blackie Rd, Salinas, CA 93907
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      66.28 Acres

      66.28 Acres Farmland Investment Opportunity

      Farmland investment opportunity with cultivated acres in Salinas, California.
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    • $150,000
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      Restaurant Opportunity in Prunedale, CA

      Restaurant in Prunedale with equipment included and seating for 70.
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      4.79 Acres

      Salinas Mixed-Use Warehouse Opportunity

      4.79-acre lot, 2,000 sq ft warehouse
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    Similar Nearby for Sale

    • $9,450,000

      262 Acre Salinas Valley Ranch

      Prime agricultural land in North Salinas Valley with development potential.
      16475 Blackie Rd, Salinas, CA 93907
      View Details
    • $1,312,344
      66.28 Acres

      66.28 Acres Farmland Investment Opportunity

      Farmland investment opportunity with cultivated acres in Salinas, California.
      1202 Castroville Rd, Salinas, CA 93907
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      4.79 Acres

      Salinas Mixed-Use Warehouse Opportunity

      4.79-acre lot, 2,000 sq ft warehouse
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      Restaurant Opportunity in Prunedale, CA

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    Similar Nearby for Lease

    • Contact for pricing
      38,542 SF

      Retail Space Available For Lease

      Retail property available for lease in Salinas, California.
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      Turn Key Office Space Available

      1747 SF former Realty Office in Prunedale, CA.
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      Retail Space in Salinas

      Retail property available for lease in Salinas, California.
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    • $0.85 SF/Yr
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      Salinas Warehouse with On-Site Parking

      Warehouse space featuring 18 ft. ceilings and roll-up doors.
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      Retail Space Available For Rent

      Retail space available, featuring 16,500 square feet.
      1223 North Davis Rd, Salinas, CA 93907
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    Salinas, CA 93907
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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