Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    24815 Carpenter Rd Carmel, CA 93923-8344
    Back to Search
    Property profile & analytics

    24815 Carpenter Rd, Carmel, CA 93923-8344

    View on Map
    • Hotels
    • 1,584 SF
    • 0.41 lot acres
    Off-Market
    Property ID
    US10-3019672
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Hotels

    Property Details for 24815 Carpenter Rd

    Year built
    1952
    Construction
    WOOD
    Lot size
    0.41 lot acres
    Property type
    Hotels
    Property subtype
    Motels
    APN
    009-144-015-000
    APU
    9144015000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 25, 2021 — Hollsiter Inn INC — Deed · related $3.2M · Pacific Valley Bank
    Feb 8, 2019 $6,430,000 Hollister Inn INC Lee,won K & Sang D Trustees Deed $2.9M · Won K Lee
    Oct 7, 2016 — Won K Lee — Deed · related $3M · Private Individual
    Aug 3, 2012 $1,225,745 Won K Lee Cj Investment Services INC Trustees Deed · related —
    Jan 8, 2009 — Carmel Coml Concepts 2 LLC Tarpon Inn LLC Grant Deed —
    Dec 31, 2008 $3,025,000 Tarpon Inn LLC Lee,won K & Sang D Grant Deed $1.1M · Roberti Family Trust
    Apr 13, 1995 $215,500 Won K Lee Mignon,maguy Grant Deed · related —
    Dec 23, 1994 — Grosvenors Garden Inn Mignon,philippe Trustees Deed · related —
    Feb 15, 1989 $230,000 Dorothy Bailey Douglas,estelle Trustees Deed —
    Feb 15, 1989 $360,000 Ned Et Al Nelson Bailey,dorothy Trustees Deed —
    Feb 15, 1989 $90,000 Andre Mignon Malenko,zinaida Trustees Deed $880k · First Nationwide Bank
    — — Won K Lee — Deed Of Trust · related $950k · Citibank West Fsb
    — — Won K Lee — Deed Of Trust · related $3M · Private Individual
    — — Won K Lee — Loan Modification · related $2M · Durham Family Trust (rt)
    — — Won K Lee — Deed Of Trust · related $2M · Durham Family Trust (rt)
    — — Carmel Coml Concepts 2 LLC — Deed Of Trust · related $1.4M · Roberti Family 1986 Tr (pt)
    — — Won K Lee — Deed Of Trust · related $700k · Mahmood Modirzadeh
    — — Won K Lee — Deed Of Trust · related $2.7M · Martin William A Trust (pt)
    — — Won K Lee — Deed Of Trust · related $582k · First National Bank Central Ca

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Carmel
    County
    Monterey
    State
    California
    Longitude
    -121.915
    Latitude
    36.5627
    CBSA code
    41500
    CBSA name
    SALINAS, 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
    2023
    $70,103
    $3,323,826
    $2,371,790
    $5,695,616
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $935,000
      6,948 SF

      Msn St At 3rd Ave

      HOTEL/MOTEL
      Msn St At 3rd Ave, Carmel, CA 93923
      View Details
    • Value Estimation by Request
      2,094 SF

      San Antonio Ave

      HOTEL/MOTEL
      San Antonio Ave, Carmel, CA 93923
      View Details
    • Value Estimation
      $1,090,000
      9,886 SF

      Torres St

      HOTEL/MOTEL
      Torres St, Carmel, CA 93923
      View Details
    • Value Estimation
      $3,725,000
      2,230 SF

      Junipero Ave

      HOTEL/MOTEL
      Junipero Ave, Carmel, CA 93923
      View Details
    • Value Estimation
      $1,895,000
      6,999 SF

      Msn St

      HOTEL/MOTEL
      Msn St, Carmel, CA 93923
      View Details
    • Value Estimation
      $735,000
      8,473 SF

      San Carlos St

      HOTEL/MOTEL
      San Carlos St, Carmel, CA 93923
      View Details

    Similar Nearby for Sale

    • $2,425,000

      Spacious Land with Ocean Views

      24+ acre land with panoramic ocean and valley views.
      24 Vasquez Trl, Carmel, CA 93923
      View Details
    • $2,200,000
      22,216.00 Acres

      Carmel Highlands Land with Approvals

      Half-acre property with approvals for a main house and ADU.
      195 Spindrift Rd, Carmel Highlands, CA 93923
      View Details
    • $695,000
      39.62 Acres

      Oak-Studded Savanna Land Parcel

      A large estate land parcel with a defined building envelope and on-site utilities for equestrian-compatible use.
      26 Long Ridge Trl, Carmel, CA 93923
      View Details
    • $575,000
      38.45 Acres

      38.45 Acre Carmel Valley Land

      Exceptional 38.45-acre parcel in the heart of Santa Lucia Preserve.
      10 Garzas Trl, Carmel Valley, CA 93923
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,372 SF

      Carmel Financial District Office Space

      Centrally located office space with ample parking and elevator access.
      26385 Carmel Rancho Blvd, Carmel, CA 93923
      View Details
    • Contact for pricing
      1,278 SF

      Carmel Rancho Financial Area Office

      Renovated office suites in Carmel Rancho Financial area.
      3771 Rio Rd, Carmel, CA 93923
      View Details
    • Contact for pricing
      600 SF

      Retail Space in Carmel

      Retail space available in a strategically positioned location.
      26135 Carmel Rancho Blvd, Carmel, CA 93923
      View Details
    • Contact for pricing
      1,750 SF

      Carmel Valley Two-Story Building

      Two-story building with retail/office space and apartment in Carmel.
      27820 Dorris Dr, Carmel, CA 93923
      View Details
    • $18 SF/Yr
      15,000 SF

      Carmel Medical Office Suites

      Prime Carmel location, 1,240-1,614 sq ft.
      26535 Carmel Rancho Blvd, Carmel-by-the-Sea, CA 93923
      View Details
    • Contact for pricing
      917 SF

      Carmel Medical/Dental Office Spaces

      Medical/dental office spaces for lease in Carmel, California.
      26365 Carmel Rancho Blvd, Carmel, CA 93923
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    24815 Carpenter Rd
    Carmel, CA 93923-8344
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    24815 Carpenter Rd, Carmel, CA, 93923
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!