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Property profile & analytics
OFF-MARKET
Estimated value
$775,000
Retail residential properties
21245 Clf Dr Santa Cruz, CA 95062-4842
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-0241420
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1956
Construction
WOOD
Total area
1,497 SF
Lot
0.34 ac (14,898 SF)
Zoning code
C-1
APN
027-211-16
UPID
US09-0241420
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
-
The Studio Spa Alternative Medicine Practice Spa & Massage Center
-
Dr. Jamie Horner Alternative Medicine Practice
-
PELICAN POINT PARTNERS Property Management Company
-
Skincare by Deann ~ The Studio Spa Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$480k
CAP Approach
CAP
$825k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$775k
Owner & transaction history
Pelican Point Partners LLC · 7 yrs held
Pelican Point Partners LLC
since 2019
7 recorded transactions
Zoning & alternative use
C-1 · 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
$480,000
CAP Approach
CAP Return
Estimation
6%
$890,000
6.5%
$825,000
7%
$765,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$940,000
Current use
MEDICAL BUILDING
$775,000
Change: -17% · Conversion: Easy
RETAIL STORES
$750,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$775k
Range $698k – $853k · ±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
$518 / 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
$29,484
Tax year 2024
Assessed value
$2,094,161
Assessed 2024
Previous assessed
$2,094,161
+0.0% YoY
Effective rate
1.41%
On assessed value
Assessed land
$1,049,634
Assessed improvement
$1,044,527
Applied tax rate
82.0000
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1956
Construction
WOOD
Heating
NONE
Stories
1
Units
2
Bathrooms
3
Total area
1,497 SF
Lot
0.34 ac (14,898 SF)
Zoning code
C-1
APN
027-211-16
UPID
US09-0241420
Jurisdiction
SANTA CRUZ
Zoning & alternative use
C-1 · Santa Cruz, CA
Zoning C-1 · permitted uses
C-1 · 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
COMMERCIAL (GENERAL) Current
Est. value
$940,000
MEDICAL BUILDING
Est. value
$775,000
RETAIL STORES
Est. value
$750,000
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
RETAIL STORES
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
1956
Construction
WOOD
Heating
NONE
Stories
1
Units
2
Bathrooms
3
Lot
0.34 ac
Current owner
From public records · entity-resolved
Pelican Point Partners LLC
Entity
Mailing address
224 WOODS ST, SANTA CRUZ, CA 95062-3420
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 11, 2022
—
Pelican Point Partners LLC
—
Deed
related
$300,000 · Bds Capital INC
Jul 12, 2019
—
Pelican Point Partners LLC
Nicholas Stoll
Grant Deed
$1,260,000 · Luther Burbank Savings
Feb 17, 2016
—
Stoll,lori R Trust
Stoll,nicholas
Quit Claim Deed
related
—
Feb 17, 2016
$1,804,500
The Lori R Stoll Trust
Richard D Andrus
Grant Deed
$1,095,000 · Santa Cruz County Bank
Dec 8, 2015
—
Andrus,r D & E R Living Trust
—
Trustees Deed
related
$25,991 · Private Individual
Dec 4, 2006
—
Pace Family Trust
Pace Family Trust
Quit Claim Deed
related
—
Sep 12, 2001
—
Andrus Trust
Andrus,richard D & Earlene R
Quit Claim Deed
related
—
—
—
Andrus,r D & E Living Trust
—
Loan Modification
related
$30,000 · Guy & Jamile Chanda
—
—
Andrus,r D & E Living Trust
—
Loan Modification
related
$10,000 · Guy & Jamile Chanda
—
—
Andrus R D & E R Living Trust
—
Deed Of Trust
related
$165,000 · Milo Babic
—
—
Andrus,r D & E R Living Trust
—
Deed Of Trust
related
$65,000 · Guy & Jamile Chanda
—
—
Andrus,tr
—
Deed Of Trust
related
$350,000 · Michael Nixon
—
—
Andrus Richard & Earlene Trust
—
Deed Of Trust
related
$600,000 · Washington Mutual Fsb
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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