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Property profile & analytics
OFF-MARKET
Estimated value
$955,000
Commercial land
254 Ctr Ave Aptos, CA 95003-4446
Individually Owned
Absentee Owner
Free & Clear
Property ID
US09-4362561
Property summary
AI-generated overview
Prime Aptos commercial property, zoned C-1, presents a unique live/work opportunity. This 0.459-acre lot, located at 254 Center Ave, Aptos, CA 95003, boasts stunning ocean views and easy beach access to Seacliff State Beach. County approval allows for a mixed-use development, with up to 75% residential and 25% commercial space. Included are conceptual drawings (not blueprints) for a three-unit residential building on the upper floors, offering breathtaking sunsets and ocean views. The ground floor is ideal for a variety of commercial uses, such as a restaurant, retail store, or other businesses compatible with the neighborhood's character. The property's location is exceptional, surrounded by established businesses including restaurants like Manuel's, Pizza My Heart, The Mediterranean, and Casa Rossy, as well as Marianne's Ice Cream and the Sno White Diner nearby. This property offers significant potential for a developer or investor seeking a high-visibility location in a vibrant beach community. The buyer is responsible for verifying all zoning and development approvals. Asking price is $2,500,000.
Property profile
Verified
Property type
Commercial land
Use group
VACANT COMMERCIAL LAND
Lot
0.46 ac (19,994 SF)
Zoning code
C-1
APN
042-021-13
UPID
US09-4362561
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$925k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$955k
Owner & transaction history
Erik Corrigan
Erik Corrigan
since 2025
Last sale
$985,000
5 recorded transactions
Zoning & alternative use
C-1 · Aptos, CA
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 Aptos submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Aptos 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
$920,000
ML approach
$925,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$955k
Range $860k – $1.05M · ±10% · vs last sale $985k (Feb 4 2022)
Last sale anchor
$985k
Feb 4 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
—
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
$11,081
Tax year 2024
Assessed value
$1,024,794
Assessed 2024
Previous assessed
$1,024,794
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$1,024,794
Applied tax rate
69.0000
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
Commercial land
Use group
VACANT COMMERCIAL LAND
Status
Off-Market
Heating
NONE
Lot
0.46 ac (19,994 SF)
Zoning code
C-1
APN
042-021-13
UPID
US09-4362561
Jurisdiction
SANTA CRUZ
Zoning & alternative use
C-1 · Aptos, CA
Zoning C-1 · permitted uses
C-1 · Aptos, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Aptos. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
NONE
Lot
0.46 ac
Current owner
From public records · entity-resolved
Erik Corrigan
Individual
Free & Clear · 0 yrs held
Mailing address
125 ELEANOR DR, WOODSIDE, CA 94062-1113
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 23, 2025
—
Erik Corrigan
Stephanie Linn Corrigan
Deed
related
—
Oct 23, 2025
$1,250,000
Thomas John Connors
Erik Corrigan
Grant Deed
—
Sep 15, 2025
—
Erik Corrigan
Stephanie Linn Corrigan
Deed
related
$650,000 · Watermark Capital INC
Feb 4, 2022
$985,000
Erik Corrigan
Raymond D Botelho
Grant Deed
$640,250 · Nicholas Joutz Etal
Nov 30, 2012
—
Botelho Raymond D Trust
Botelho,raymond D JR
Quit Claim Deed
related
—
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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