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Property profile & analytics
FOR LEASE
Office buildings
2161 Delaware Ave Santa Cruz, CA 95060
Entity Owned
6-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2137333
For Lease
1 / 2
$1,970,000
2161 Delaware Ave, Santa Cruz, CA 95060
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1977
Construction
TILT-UP CONCRETE
Total area
31,600 SF
Lot
2.87 ac (125,017 SF)
APN
003-161-56
UPID
US09-2137333
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
-
SomaGenics Inc Corporate Office
-
Unnatural Products Inc. Corporate Office
-
Transderm LLC Laboratory
-
Webb Real Estate Group. Real Estate Agency
-
Ontera Inc. Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.92M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.97M
Owner & transaction history
Natural Bridges Re LLC · 6 yrs held
Natural Bridges Re LLC
since 2020
Last sale
$2.0M
4 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 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
$1,975,000
ML approach
$1,920,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.97M
Range $1.77M – $2.17M · ±10% · vs last sale $2.00M (Jul 2 2020)
Last sale anchor
$2.00M
Jul 2 2020
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
$62 / 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
$55,907
Tax year 2024
Assessed value
$4,986,723
Assessed 2024
Previous assessed
$4,986,723
+0.0% YoY
Effective rate
1.12%
On assessed value
Assessed land
$1,256,058
Assessed improvement
$3,730,665
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1977
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Total area
31,600 SF
Lot
2.87 ac (125,017 SF)
APN
003-161-56
UPID
US09-2137333
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
Building & site characteristics
From public records
Year built
1977
Construction
TILT-UP CONCRETE
Heating
CENTRAL
Cooling
Yes
Stories
1
Lot
2.87 ac
Current owner
From public records · entity-resolved
Natural Bridges Re LLC
Entity
Mailing address
5005 IRONWOOD DR, SOQUEL, CA 95073-3032
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 2, 2020
—
Natural Bridges Re LLC
Abitbol L 2005 Family Trust
Quit Claim Deed
—
Jan 23, 2008
$1,997,500
Abitbol L 2005 Trust
Wave Crest Dev INC
Grant Deed
$3,050,000 · Standard Insurance Co
Sep 25, 2003
—
Wave Crest Development INC
—
Deed Of Trust
related
$3,050,000 · Standard Insurance Co
—
—
Wave Crest Development INC
—
Deed Of Trust
related
$2,710,000 · Cupertino National 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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