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    Property profile & analytics

    2460 Maritime Dr Elk Grove, CA 95758-3623

    • Motels
    • 39,588 SF
    • 1.23 lot acres
    OFF-MARKET
    Last Sale
    Mar 06, 2024
    $8,800,500
    Value Estimations
    $8,800,000
    Show details
    Cap Rate Potential
    3.7%
    Motels
    Location Intelligence
    Property ID
    US10-1979000
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Holiday Inn Express & Suites Elk Grove West I-5, an IHG Hotel / Hotel & Motel
    • Reclaimed Wood Elk Grove / Hardware & Home Improvement / Home Decor Store

    Property Details for 2460 Maritime Dr

    Year built
    2003
    Construction
    WOOD
    Lot size
    1.23 lot acres
    Property size
    39,588 SF
    Zone code
    GC
    Property type
    Motels
    APN
    119-1920-011-0000
    APU
    11919200110000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $8,800,000
      ML approach
      $8,800,000

    • Alternative Use

      Use
      Estimation
      HOTEL/MOTEL
      $10,475,000
      Current use
      OFFICE BUILDING
      $13,425,000
      Change: +28% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $11,340,000
      Change: +8% Conversion: Difficult
      MEDICAL BUILDING
      $10,305,000
      Change: -2% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $10,220,000
      Change: -2% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $9,245,000
      Change: -12% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Elk Grove
    County
    Sacramento
    State
    California
    Longitude
    -121.479
    Latitude
    38.41
    CBSA code
    40900
    CBSA name
    SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $103,955
    $1,428,000
    $8,262,000
    $9,690,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      $5,970,000
      68,244 SF

      2305 Longport Ct

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      2305 Longport Ct, Elk Grove, CA 95758-7127
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    • Value Estimation
      $6,920,000
      82,004 SF

      9175 Stockton Blvd

      MOTEL • 82,004 SF
      9175 Stockton Blvd, Elk Grove, CA 95758-8051
      View Details
    • Value Estimation
      $4,765,000
      43,173 SF

      2201 Longport Ct

      MOTEL • 43,173 SF
      2201 Longport Ct, Elk Grove, CA 95758-7126
      View Details
    • Value Estimation by Request
      1,240 SF

      9444 Harbour Pt Dr, Unit 99

      HOTEL • 1,240 SF
      9444 Harbour Pt Dr, Elk Grove, CA 95758-3729
      View Details
    • Value Estimation
      $4,980,000
      66,793 SF

      9241 Laguna Spgs Dr

      HOTEL • 66,793 SF
      9241 Laguna Spgs Dr, Elk Grove, CA 95758-7976
      View Details
    • Value Estimation by Request
      8.35 Acres

      Laguna Blvd

      INDUSTRIAL - VACANT LAND • 8.35 Acres
      Laguna Blvd, Elk Grove, CA 95758
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      20,000 SF

      Proposed Office Park in Elk Grove

      Proposed office and medical space near Highway 99 and hospitals.
      9615 Laguna Springs Dr, Elk Grove, CA 95758
      View Details
    • Contact for pricing

      Elk Grove Commercial Land Opportunity

      Prime Retail Land Near College & Light Rail
      8351 Bruceville Rd, Elk Grove, CA 95758
      View Details
    • $5,700,000
      49,222 SF

      Elk Grove Retail Property

      Retail property available for sale in Elk Grove, California.
      2475 Elk Grove Blvd, Elk Grove, CA 95758
      View Details
    • $4,500,000
      9 SF

      Interstate 5 Land For Sale

      Located on Interstate 5 at the Elk Grove Blvd Exit.
      2410 Maritime Dr, Elk Grove, CA 95758
      View Details
    • Contact for pricing

      Land in Thriving Sacramento Area

      Prime land zoned for retail ventures in Elk Grove, CA.
      Sheldon Rd, Elk Grove, CA 95758
      View Details
    • $980,000
      1,636 SF

      Retail Property in Elk Grove

      Retail property for sale in Elk Grove, California.
      9080 Laguna Main St, Elk Grove, CA 95758
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,105 SF

      Elk Grove Retail Spaces Available

      High-visibility retail space near I-5.
      2733 Elk Grove Blvd, Elk Grove, CA 95758
      View Details
    • Contact for pricing
      1,360 SF

      Elk Grove Retail Space Available

      Retail space for lease in a busy Elk Grove center.
      4810-5030 Elk Grove Blvd, Elk Grove, CA 95758
      View Details
    • Contact for pricing
      2,009 SF

      Elk Grove Retail Salon Space

      Prime Elk Grove location, 2,009 sq ft salon.
      7440 Laguna Blvd, Elk Grove, CA 95758
      View Details
    • Contact for pricing
      3,464 SF

      Medical/Office Space for Lease

      Medical/office suites available in a community medical building.
      9045 Bruceville Rd, Elk Grove, CA 95758
      View Details
    • $27 SF/Yr
      27,204 SF

      Elk Grove Office Space Available

      Prime Elk Grove office, flexible suites, 24,157 sq ft available.
      2218 Kausen Dr, Elk Grove, CA 95758
      View Details
    • Contact for pricing
      5,005 SF

      Retail Space in Elk Grove

      Retail space available for lease in Elk Grove, California.
      9180 Harbour Point Dr, Elk Grove, CA 95758
      View Details
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    Elk Grove, CA 95758-3623
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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