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Property profile & analytics
OFF-MARKET
Estimated value
$3,640,000
Office buildings
240 Westgate Dr Watsonville, CA 95076-2461
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1971987
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
WOOD
Total area
13,899 SF
Lot
1.04 ac (45,215 SF)
APN
015-111-62
UPID
US09-1971987
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
-
Pearl Chaiyarat, MFT Marriage Or Relationship Counselor
-
The Grunsky Law Firm PC Law Firm
-
Isenhour Sharon A Law Firm
-
Tepper Jonathan MD Physician
-
Barbara Lutz Marriage Or Relationship Counselor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.55M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.21M
Blend (final)
Blend
$3.64M
Owner & transaction history
Sjrs Real Estate Company LLC · 3 yrs held
Sjrs Real Estate Company LLC
since 2022
Last sale
$3.9M
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 Watsonville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Watsonville 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
$3,650,000
ML approach
$3,550,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$5,890,000
Current use
AUTO REPAIR, GARAGE
$5,560,000
Change: -6% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,835,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$3.64M
Range $3.28M – $4.00M · ±10% · vs last sale $3.90M (Sep 13 2022)
Last sale anchor
$3.90M
Sep 13 2022
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
$262 / 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
$46,711
Tax year 2024
Assessed value
$3,978,000
Assessed 2024
Previous assessed
$3,978,000
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$2,040,000
Assessed improvement
$1,938,000
Applied tax rate
2.0000
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
1985
Construction
WOOD
Heating
NONE
Stories
2
Total area
13,899 SF
Lot
1.04 ac (45,215 SF)
APN
015-111-62
UPID
US09-1971987
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
OFFICE BUILDING Current
Est. value
$5.9M
AUTO REPAIR, GARAGE
Est. value
$5.6M
WAREHOUSE, STORAGE
Est. value
$4.8M
OFFICE BUILDING Current
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
1985
Construction
WOOD
Heating
NONE
Stories
2
Lot
1.04 ac
Current owner
From public records · entity-resolved
Sjrs Real Estate Company LLC
Entity
Mailing address
1081 LOS PALOS DR, SALINAS, CA 93901-3916
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Sep 13, 2022
$3,900,000
Sjrs Real Estate Company LLC
Victor F Bogard
Grant Deed
$2,700,000 · 1st Capital Bank
May 3, 2022
—
Dennis P Howell
Dennis P Howell
Intrafamily Transfer
related
—
Aug 8, 2017
—
Victor F Bogard JR
Larkin Valley Associates
Quit Claim Deed
—
—
—
Valley As Larkin
—
Deed Of Trust
related
$56,100 · Us Small Business Admn
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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