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Property profile & analytics
OFF-MARKET
Estimated value
$8,215,000
Office buildings
238 John St, Salinas, CA 93901-3339
Entity Owned
27-yr Hold
Free & Clear
Property ID
US09-3374096
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1985
Total area
31,681 SF
Lot
1.88 ac (81,955 SF)
APN
002-382-072-000
UPID
US09-3374096
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
-
KSBW Television Studio Media Distribution
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.03M
Comparable Approach
Comparable
$10.66M
Blend (final)
Blend
$8.22M
Owner & transaction history
Hearst-argyle Stations INC · 27 yrs held
Hearst-argyle Stations INC
since 1998
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$13.0M
+38.9%
Auto repair, garage
$12.6M
+34.8%
Medical building
$9.8M
+4.6%
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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$8,700,000
6.5%
$8,030,000
7%
$7,455,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,375,000
Current use
INDUSTRIAL (GENERAL)
$13,025,000
Change: +39% · Conversion: Difficult
AUTO REPAIR, GARAGE
$12,635,000
Change: +35% · Conversion: Difficult
MEDICAL BUILDING
$9,810,000
Change: +5% · Conversion: Easy
RETAIL STORES
$9,235,000
Change: -2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$9,215,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$8.22M
Range $7.39M – $9.04M · ±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
$259 / 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
$83,840
Tax year 2023
Assessed value
$7,285,887
Assessed 2023
Previous assessed
$7,285,887
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$904,100
Assessed improvement
$6,381,787
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
1985
Heating
NONE
Buildings
2
Stories
1
Rooms
8
Bathrooms
12
Total area
31,681 SF
Lot
1.88 ac (81,955 SF)
APN
002-382-072-000
UPID
US09-3374096
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
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$9.4M
INDUSTRIAL (GENERAL)
Est. value
$13.0M
AUTO REPAIR, GARAGE
Est. value
$12.6M
MEDICAL BUILDING
Est. value
$9.8M
RETAIL STORES
Est. value
$9.2M
COMMERCIAL (GENERAL)
Est. value
$9.2M
OFFICE BUILDING Current
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
1985
Heating
NONE
Stories
1
Buildings
2
Rooms
8
Bathrooms
12
Lot
1.88 ac
Current owner
From public records · entity-resolved
Hearst-argyle Stations INC
Entity
Free & Clear · 27 yrs held
Mailing address
170 E RIDGEWOOD AVE STE #212, RIDGEWOOD, NJ 07450-3860
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 8, 1998
$3,155,000
Hearst-argyle Stations INC
Stc Broadcasting INC
Grant Deed
—
Jun 10, 1997
$3,345,000
Stc Broadcasting INC
Smith Television Of Salins-mon
Grant Deed
—
Sep 23, 1994
$3,255,000
Ep Communications
Ksbw License INC
Grant Deed
—
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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