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Property profile & analytics
OFF-MARKET
Estimated value
$1,405,000
Retail properties & Spaces
2150 Elkhorn Rd Castroville, CA 95012-9718
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US09-3073286
Property summary
AI-generated overview
Exceptional investment opportunity: 9.8 acres of prime Monterey County farmland in Castroville (95012), featuring over 127,968 square feet of greenhouse space, including six separate buildings. This property boasts a mix of steel-frame and renovated wood-framed greenhouses, along with dedicated packing and propagation buildings, and a warehouse shop. The existing structures comprise approximately 63,504 square feet, 36,304 square feet, 26,160 square feet, 7,900 square feet, 3,360 square feet, and 2,999 square feet respectively. The land also includes approximately 3.6 acres of open farmland. The property benefits from a well-irrigation system, PG&E natural gas service, computerized vent controls, and an engineered retention basin. A single-wide mobile home with septic is also on the site. Zoned for residential, land, and agricultural use, this versatile property presents significant potential for expansion and diverse agricultural applications. The seller is seeking a 1031 exchange. APN: 131-073-028-000. Asking price: $3,400,000 ($26.57/sq ft).
Property profile
Verified
Property type
Retail properties & Spaces
Use group
NURSERY, GREENHOUSE, FLORIST
Total area
132,966 SF
Lot
9.7 ac (422,433 SF)
APN
131-073-028-000
UPID
US09-3073286
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.60M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.41M
Owner & transaction history
Bay Wolf LLC · 4 yrs held
Bay Wolf LLC
since 2022
Last sale
$1.4M
7 recorded transactions
Zoning & alternative use
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 Castroville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Castroville 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
$1,230,000
ML approach
$1,595,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.41M
Range $1.26M – $1.55M · ±10% · vs last sale $1.40M (Jul 12 2022)
Last sale anchor
$1.40M
Jul 12 2022
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
$11 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$11,286
Tax year 2023
Assessed value
$1,011,619
Assessed 2023
Previous assessed
$1,011,619
+0.0% YoY
Effective rate
1.12%
On assessed value
Assessed land
$564,320
Assessed improvement
$447,299
Applied tax rate
99.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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 properties & Spaces
Use group
NURSERY, GREENHOUSE, FLORIST
Status
Off-Market
Heating
NONE
Total area
132,966 SF
Lot
9.7 ac (422,433 SF)
APN
131-073-028-000
UPID
US09-3073286
Jurisdiction
MONTEREY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Heating
NONE
Lot
9.7 ac
Current owner
From public records · entity-resolved
Bay Wolf LLC
Entity
Mailing address
PO BOX 4456, SALINAS, CA 93912-4456
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 12, 2022
$1,400,000
Bay Wolf LLC
Monterey Bay Land Holdings LLC
Grant Deed
—
Nov 22, 2021
—
Monterey Bay Land Holdings LLC
—
Deed
related
$300,000 · Ernal Bay Investments LLC
Dec 17, 2020
—
Monterey Bay Land Holdings LLC
—
Deed
related
$5,000,000 · Rabobank
Oct 20, 2020
—
Coastal Nursery LLC
—
Deed
related
$1,400,000 · Private Individual
Jun 26, 2019
—
Monterey Bay Land Holdings LLC
Hollow Wave Holdings LLC
Grant Deed
$2,500,000 · Rabobank NA
Jan 3, 2019
—
Hollow Wave Holdings LLC
—
Loan Modification
related
$7,345,000 · West Bay Cap
Jun 5, 2018
—
Hollow Wave Holdings LLC
—
Grant Deed
related
$6,345,000 · West Bay Cap
Dec 29, 2017
$925,000
Hollow Wave Holdings LLC
Rodrigues Donna M Trust
Grant Deed
—
Jul 18, 2011
—
Rodrigues Donna M Trust
Rodrigues Family Trust
Quit Claim Deed
related
—
Mar 31, 2003
—
Rodrigues,tr
Rodrigues,jess A & Donna M
Quit Claim Deed
related
—
Aug 31, 1995
$450,000
Rodrigues Trust
Holland,flamingo
Grant Deed
—
Jul 3, 1995
$120,000
Flamingo Holland
Kubota,theodore K
Trustees Deed
—
—
—
Nurseries Kubota
—
Deed Of Trust
related
—
—
—
Nurseries Kubota
—
Deed Of Trust
related
$257,148 · Pacific Coast Properties INC
—
—
Monterey Bay Land Holdings LLC
—
Loan Modification
related
$5,000,000 · Rabobank
—
—
Coastal Nursery LLC
—
Deed Of Trust
related
$1,400,000 · Private Individual
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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