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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Medical Office Space
264 Lk Ave, Watsonville, CA 95076-4718
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US10-2958813
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1969
Construction
WOOD
Total area
1,569 SF
Lot
0.12 ac (5,053 SF)
APN
017-032-24
UPID
US10-2958813
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
-
STUART M. SAKUMA, OD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$355k
CAP Approach
CAP
$745k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$535k
Owner & transaction history
9 Fathom LLC · 2 yrs held
9 Fathom LLC
since 2024
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$840,000
+3.2%
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
by Request
ML approach
$355,000
CAP Approach
CAP Return
Estimation
6%
$805,000
6.5%
$745,000
7%
$690,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$815,000
Current use
RETAIL STORES
$840,000
Change: +3% · Conversion: Difficult
OFFICE BUILDING
$665,000
Change: -18% · Conversion: Easy
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$341 / 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
$5,437
Tax year 2024
Assessed value
$460,000
Assessed 2024
Previous assessed
$460,000
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$240,699
Assessed improvement
$219,301
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1969
Construction
WOOD
Heating
NONE
Stories
1
Units
1
Total area
1,569 SF
Lot
0.12 ac (5,053 SF)
APN
017-032-24
UPID
US10-2958813
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
MEDICAL BUILDING Current
Est. value
$815,000
RETAIL STORES
Est. value
$840,000
OFFICE BUILDING
Est. value
$665,000
MEDICAL BUILDING Current
RETAIL STORES
OFFICE BUILDING
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
1969
Construction
WOOD
Heating
NONE
Stories
1
Units
1
Lot
0.12 ac
Current owner
From public records · entity-resolved
9 Fathom LLC
Entity
Free & Clear · 2 yrs held
Mailing address
244 E LK AVE, WATSONVILLE, CA 95076-4718
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 29, 2024
—
9 Fathom LLC
Steven Kim
Warranty Deed
—
Dec 21, 2004
$440,000
Srs Joint
Tomosawa Francis & Lillian
Grant Deed
$396,000 · Heritage Bank Of Commerce
Dec 26, 1995
—
Francis M Tomosawa Trustees
Tomosawa,francis M & Lillian R
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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