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Property profile & analytics
OFF-MARKET
Estimated value
$810,000
Medical Office Space
236 Ocean St, Santa Cruz, CA 95060-5118
Individually Owned
19-yr Hold
~
Est. High Equity
Property ID
US09-3463761
Property summary
AI-generated overview
This exceptional Santa Cruz property, located at 236 Ocean St, 95060, presents a significant investment opportunity. Encompassing two parcels totaling approximately 9,853 square feet (6,409 sq ft and 3,444 sq ft) on a 0.226-acre lot, this retail land offers substantial development potential. Currently zoned CN, the property boasts strong existing income with additional space for expansion. According to insights from the Santa Cruz City Planning & Zoning Department, the site permits a minimum of six two-story units, with the possibility of more units and increased height depending on the buyer's plans. Furthermore, the city has indicated that the property qualifies for low-income housing, potentially allowing for a five-story building with no maximum unit limit. The asking price is $1,900,000. Buyer due diligence is recommended. This prime location eliminates the need for on-site parking. The property's versatility and zoning make it an attractive investment for various development scenarios.
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1962
Construction
WOOD
Total area
1,749 SF
Lot
0.15 ac (6,403 SF)
APN
010-165-18
UPID
US09-3463761
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
-
DolEx Dollar Express Bank Credit Union
-
Cuts & Styles Barber Shop
-
Reyna's Produce Food Market Specialty Food Shop
-
Los Viejones Taco Truck 1 Take-out & Catering Catering Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$830k
Comparable Approach
Comparable
$756k
Blend (final)
Blend
$810k
Owner & transaction history
Roberto H Solis · 19 yrs held
Roberto H Solis
since 2007
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+24.2%
Retail stores
$1.0M
+14.6%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$900,000
6.5%
$830,000
7%
$770,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$910,000
Current use
COMMERCIAL (GENERAL)
$1,130,000
Change: +24% · Conversion: Easy
RETAIL STORES
$1,040,000
Change: +15% · Conversion: Difficult
OFFICE BUILDING
$755,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$810k
Range $729k – $891k · ±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
$463 / 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
$8,868
Tax year 2024
Assessed value
$748,704
Assessed 2024
Previous assessed
$748,704
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$525,406
Assessed improvement
$223,298
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1962
Construction
WOOD
Stories
1
Total area
1,749 SF
Lot
0.15 ac (6,403 SF)
APN
010-165-18
UPID
US09-3463761
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
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$910,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
RETAIL STORES
Est. value
$1.0M
OFFICE BUILDING
Est. value
$755,000
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RETAIL STORES
OFFICE BUILDING
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
1962
Construction
WOOD
Stories
1
Lot
0.15 ac
Current owner
From public records · entity-resolved
Roberto H Solis
Individual
Mailing address
236 OCEAN ST, SANTA CRUZ, CA 95060-5118
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2007
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 29, 2007
$670,000
Roberto H Solis
Charles Thomas Devlin
Grant Deed
$500,000 · Wells Fargo Bank NA
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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