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Property profile & analytics
OFF-MARKET
Estimated value
$780,000
Office buildings
229 Pajaro St, Salinas, CA 93901-3499
Individually Owned
2-yr Hold
Free & Clear
Property ID
US09-0920779
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1980
Construction
WOOD
Total area
9,634 SF
Lot
0.3 ac (13,260 SF)
APN
002-224-020-000
UPID
US09-0920779
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
-
daniel.codes Marketing & Advertising (Bike/Boat/Book/etc) Store
-
J B Technologies (Bike/Boat/Book/etc) Store Corporate Office
-
Radio Vida Abundante 980 AM Radio Station Telecommunications Service
-
Windshield Repair Today of Pajaro Auto Repair Shop
-
Community Catalysts of Ca Social Service Agency Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$770k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$734k
Blend (final)
Blend
$780k
Owner & transaction history
Paul L Miller · 2 yrs held
Paul L Miller
since 2023
Last sale
$835,000
2 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 Salinas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salinas 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
$715,000
ML approach
$770,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$780k
Range $702k – $858k · ±10% · vs last sale $835k (Sep 13 2023)
Last sale anchor
$835k
Sep 13 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
$81 / 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
$10,475
Tax year 2023
Assessed value
$895,286
Assessed 2023
Previous assessed
$895,286
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$355,434
Assessed improvement
$539,852
Applied tax rate
5.0000
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 (MULTI-STORY)
Status
Off-Market
Year built
1980
Construction
WOOD
Heating
NONE
Stories
3
Units
1
Rooms
1
Total area
9,634 SF
Lot
0.3 ac (13,260 SF)
APN
002-224-020-000
UPID
US09-0920779
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
Year built
1980
Construction
WOOD
Heating
NONE
Stories
3
Units
1
Rooms
1
Lot
0.3 ac
Current owner
From public records · entity-resolved
Paul L Miller
Individual
Free & Clear · 2 yrs held
Mailing address
229 PAJARO ST, SALINAS, CA 93901-3499
Mailing matches property
Yes
Owner-occupied
Yes
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 13, 2023
$875,000
Paul L Miller
Stuart Wolf
Quit Claim Deed
related
—
Oct 10, 2018
$835,000
Paul L Miller
229 Pajaro Association Limited
Grant Deed
$534,000 · 1st Capital 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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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