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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Office buildings
232 Santa Cruz Ave Aptos, CA 95003-4438
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US09-0934933
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1971
Construction
WOOD
Total area
1,600 SF
Lot
0.06 ac (2,439 SF)
Zoning code
C-1
APN
042-031-17
UPID
US09-0934933
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 Wholesale House Carpet & Flooring Store Hardware & Home Improvement
-
Celebration Beverages (Bike/Boat/Book/etc) Store Wine and Liquor Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$365k
CAP Approach
CAP
$645k
Comparable Approach
Comparable
$672k
Blend (final)
Blend
$500k
Owner & transaction history
The Wholesale House LLC · 1 yrs held
The Wholesale House LLC
since 2024
6 recorded transactions
Zoning & alternative use
C-1 · Aptos, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$830,000
+22.5%
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 Aptos submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Aptos 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
$365,000
CAP Approach
CAP Return
Estimation
6%
$700,000
6.5%
$645,000
7%
$600,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$680,000
Current use
MEDICAL BUILDING
$830,000
Change: +22% · Conversion: Easy
AUTO REPAIR, GARAGE
$640,000
Change: -6% · Conversion: Difficult
WAREHOUSE, STORAGE
$555,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$500k
Range $450k – $550k · ±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
$313 / 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
$7,214
Tax year 2024
Assessed value
$487,515
Assessed 2024
Previous assessed
$487,515
+0.0% YoY
Effective rate
1.48%
On assessed value
Assessed land
$273,302
Assessed improvement
$214,213
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1971
Construction
WOOD
Heating
NONE
Stories
2
Total area
1,600 SF
Lot
0.06 ac (2,439 SF)
Zoning code
C-1
APN
042-031-17
UPID
US09-0934933
Jurisdiction
SANTA CRUZ
Zoning & alternative use
C-1 · Aptos, CA
Zoning C-1 · permitted uses
C-1 · Aptos, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Aptos. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$680,000
MEDICAL BUILDING
Est. value
$830,000
AUTO REPAIR, GARAGE
Est. value
$640,000
WAREHOUSE, STORAGE
Est. value
$555,000
OFFICE BUILDING Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1971
Construction
WOOD
Heating
NONE
Stories
2
Lot
0.06 ac
Current owner
From public records · entity-resolved
The Wholesale House LLC
Entity
Mailing address
PO BOX 1926, APTOS, CA 95001-1926
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2024
—
The Wholesale House LLC
Stephen Dennis Mills
Grant Deed
—
May 20, 2020
—
Mills Family Trust
Stephen D Mills
Quit Claim Deed
related
—
May 19, 2020
—
Stephen D Mills
Stephen Dennis Mills
Intrafamily Transfer
related
$510,400 · Finance Of America Mortgage LLC
Feb 20, 2015
—
Mills Family Trust
Mills Stephen D & Ellise M
Quit Claim Deed
related
—
Aug 1, 2000
—
Robert T Thomson
Thomson Trust
Quit Claim Deed
related
—
Aug 1, 2000
$195,500
Mills,stephen D & Ellise M
Thomson,robert T & Berkeley C
Trustees Deed
$195,500 · Seller
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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