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Property profile & analytics
OFF-MARKET
Estimated value
$4,550,000
Medical Office Space
2018 Msn St Santa Cruz, CA 95060-5218
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-0575367
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1968
Construction
TILT-UP CONCRETE
Total area
6,039 SF
Lot
0.43 ac (18,644 SF)
APN
002-223-32
UPID
US09-0575367
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
-
Magdy Ismail, MD - Stanford Children's Health Physician
-
Eric Hohn, MD Physician
-
Barbara Bannan, MD Pediatrician Physician
-
Dr. Julia Crawford Pediatrician Physician
-
Darlene Zanker, MD Pediatrician Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.27M
CAP Approach
CAP
$2.87M
Comparable Approach
Comparable
$4.73M
Blend (final)
Blend
$4.55M
Owner & transaction history
Apricot Co Ltd · 5 yrs held
Apricot Co Ltd
since 2021
Last sale
$4.4M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.9M
+24.2%
Restaurant
$3.6M
+15.5%
Retail stores
$3.6M
+14.6%
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
$4,760,000
ML approach
$5,265,000
CAP Approach
CAP Return
Estimation
6%
$3,110,000
6.5%
$2,870,000
7%
$2,665,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,135,000
Current use
COMMERCIAL (GENERAL)
$3,895,000
Change: +24% · Conversion: Easy
RESTAURANT
$3,620,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$3,595,000
Change: +15% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,580,000
Change: +14% · Conversion: Moderate
Blend value · Realmo final
$4.55M
Range $4.10M – $5.01M · ±10% · vs last sale $4.35M (May 20 2021)
Last sale anchor
$4.35M
May 20 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
$753 / 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
$38,795
Tax year 2024
Assessed value
$3,501,986
Assessed 2024
Previous assessed
$3,501,986
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$2,122,416
Assessed improvement
$1,379,570
Applied tax rate
1.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1968
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
6,039 SF
Lot
0.43 ac (18,644 SF)
APN
002-223-32
UPID
US09-0575367
Jurisdiction
SANTA CRUZ
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
MEDICAL BUILDING Current
Est. value
$3.1M
COMMERCIAL (GENERAL)
Est. value
$3.9M
RESTAURANT
Est. value
$3.6M
RETAIL STORES
Est. value
$3.6M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.6M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1968
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
0.43 ac
Current owner
From public records · entity-resolved
Apricot Co Ltd
Entity
Free & Clear · 5 yrs held
Mailing address
1260 41ST AVE STE O, CAPITOLA, CA 95010-3929
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 20, 2021
$4,350,000
Apricot Co Ltd
Todd Todd
Grant Deed
—
Oct 28, 2014
—
Todd 2007 Family Trust
—
Loan Modification
related
$1,522,733 · Comerica Bk
Apr 17, 2013
—
Todd 2007 Family Trust
—
Loan Modification
related
$1,372,733 · Comerica Bank
Dec 27, 2007
—
Todd Family 2007 Trust
Todd,todd
Quit Claim Deed
related
—
Oct 16, 2002
—
Todd Todd
—
Deed Of Trust
related
$1,137,500 · Comerica Bank California
Mar 2, 2000
$950,000
Todd Todd
Bate,russell M & Mary L
Grant Deed
$850,000 · Seller
—
—
Russell M Bate
—
Deed Of Trust
related
$300,000 · Bank Of San Francisco
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.
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