New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,555,000
Hotels
242 Cannery Row, Monterey, CA 93940-1437
Individually Owned
24-yr Hold
~
Est. High Equity
Property ID
US09-2617710
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1984
Construction
WOOD
Total area
35,656 SF
Lot
0.46 ac (19,960 SF)
APN
001-031-012-000
UPID
US09-2617710
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
-
Monterey Bay Inn Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.52M
Comparable Approach
Comparable
$3.03M
Blend (final)
Blend
$2.56M
Owner & transaction history
Inns Of Cannery Montery Bay · 24 yrs held
Inns Of Cannery Montery Bay
since 2001
6 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 Monterey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monterey 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%
$3,810,000
6.5%
$3,520,000
7%
$3,265,000
Blend value · Realmo final
$2.56M
Range $2.30M – $2.81M · ±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
$72 / 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
$174,555
Tax year 2023
Assessed value
$15,984,854
Assessed 2023
Previous assessed
$15,984,854
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$1,419,931
Assessed improvement
$14,564,923
Applied tax rate
3.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1984
Construction
WOOD
Heating
NONE
Units
47
Rooms
188
Bathrooms
47
Total area
35,656 SF
Lot
0.46 ac (19,960 SF)
APN
001-031-012-000
UPID
US09-2617710
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
1984
Construction
WOOD
Heating
NONE
Units
47
Rooms
188
Bathrooms
47
Lot
0.46 ac
Current owner
From public records · entity-resolved
Inns Of Cannery Montery Bay
Individual
Mailing address
555 ABREGO ST, MONTEREY, CA 93940-3229
Ownership since
2001
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 14, 2006
—
Inns Of Cannery Row-monterey Bay
—
Deed Of Trust
related
$24,500,000 · Sun Life Assurance Co
Sep 5, 2001
—
Inns Of Cannery Montery Bay
Pw Acquistions Xi LLC
Grant Deed
$6,875,000 · Ubs Warburg Real Estate Inv
Aug 19, 1998
$11,750,000
Pw Acquisitions Xi LLC
Olympus/huron California Ptshp
Grant Deed
—
Mar 29, 1996
—
Olympus/huron
Monterey Bay Hotel Partnership
Grant Deed
related
$30,000,000 · Jackson National Life Ins Co
Feb 26, 1993
$4,362,000
Monterey Bay Hotels LP
First Hotel Inve
Grant Deed
$4,100,000 · Itt Commercial Finance
—
—
Inns Of Cannery Row
—
Deed Of Trust
related
$15,625,000 · Ubs Warburg Real Estate Inv
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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