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Property profile & analytics
OFF-MARKET
Estimated value
$9,050,000
Refrigerated & Cold Storage
209 Riverside Rd, Watsonville, CA 95076-3656
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-1206000
Property profile
Verified
Property type
Refrigerated & Cold Storage
Use group
COLD STORAGE
Year built
1978
Construction
TILT-UP CONCRETE
Total area
24,144 SF
Lot
5.07 ac (220,675 SF)
Zoning code
A
APN
051-221-32
UPID
US09-1206000
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
-
Well-Pict Inc Logistics Company
-
T T Miyasaka Inc Food Processing Plant
-
Valley Crate Corporation Big Box & Wholesale Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.24M
CAP Approach
CAP
$9.03M
Comparable Approach
Comparable
$10.26M
Blend (final)
Blend
$9.05M
Owner & transaction history
Gp Riverside Road Land LLC · 2 yrs held
Gp Riverside Road Land LLC
since 2023
Last sale
$8.0M
3 recorded transactions
Zoning & alternative use
A · Watsonville, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$14.5M
+72.5%
Retail stores
$12.9M
+54.1%
Medical building
$12.5M
+49.3%
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 Watsonville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Watsonville 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
$9,770,000
ML approach
$9,235,000
CAP Approach
CAP Return
Estimation
6%
$9,780,000
6.5%
$9,025,000
7%
$8,380,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$8,400,000
Current use
RESTAURANT
$14,485,000
Change: +72% · Conversion: Difficult
RETAIL STORES
$12,940,000
Change: +54% · Conversion: Moderate
MEDICAL BUILDING
$12,535,000
Change: +49% · Conversion: Difficult
OFFICE BUILDING
$10,235,000
Change: +22% · Conversion: Difficult
AUTO REPAIR, GARAGE
$9,660,000
Change: +15% · Conversion: Easy
Blend value · Realmo final
$9.05M
Range $8.15M – $9.96M · ±10% · vs last sale $8.00M (Aug 11 2023)
Last sale anchor
$8.00M
Aug 11 2023
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
$375 / 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
$69,966
Tax year 2024
Assessed value
$6,128,859
Assessed 2024
Previous assessed
$6,128,859
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$1,491,666
Assessed improvement
$4,637,193
Applied tax rate
69.0000
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
Refrigerated & Cold Storage
Use group
COLD STORAGE
Status
Off-Market
Year built
1978
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Units
1
Total area
24,144 SF
Lot
5.07 ac (220,675 SF)
Zoning code
A
APN
051-221-32
UPID
US09-1206000
Jurisdiction
SANTA CRUZ
Zoning & alternative use
A · Watsonville, CA
Zoning A · permitted uses
A · Watsonville, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Watsonville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$8.4M
RESTAURANT
Est. value
$14.5M
RETAIL STORES
Est. value
$12.9M
MEDICAL BUILDING
Est. value
$12.5M
OFFICE BUILDING
Est. value
$10.2M
AUTO REPAIR, GARAGE
Est. value
$9.7M
WAREHOUSE, STORAGE Current
RESTAURANT
RETAIL STORES
MEDICAL BUILDING
OFFICE BUILDING
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
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Units
1
Lot
5.07 ac
Current owner
From public records · entity-resolved
Gp Riverside Road Land LLC
Entity
Free & Clear · 2 yrs held
Mailing address
14271 JEFFREY RD #315, IRVINE, CA 92620-3405
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 11, 2023
$8,000,000
Gp Riverside Road Land LLC
Coast Cooling INC
Grant Deed
—
Aug 26, 1993
$152,000
Cooling Coast
Audric Enterpris
Grant Deed
—
—
—
Coast Cooling Corp
—
Deed Of Trust
related
$3,000,000 · Coast Commercial Bank
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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