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Property profile & analytics
OFF-MARKET
Estimated value
$1,555,000
Office buildings
275 Westgate Dr, Watsonville, CA 95076-2470
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US09-0956851
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1990
Construction
WOOD
Total area
10,752 SF
Lot
0.72 ac (31,276 SF)
APN
015-111-71
UPID
US09-0956851
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
-
Superior Foods Corporate Office Business Park
-
Food Service Systems Grocery & Convenience Store
-
Eathos Foods Food Processing Plant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.89M
Blend (final)
Blend
$1.56M
Owner & transaction history
Lewis Mateo Lettunich · 1 yrs held
Lewis Mateo Lettunich
since 2025
Last sale
$1.4M
7 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 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
$1,630,000
ML approach
$1,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.56M
Range $1.40M – $1.71M · ±10% · vs last sale $1.38M (May 27 2025)
Last sale anchor
$1.38M
May 27 2025
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
$145 / 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
$27,646
Tax year 2024
Assessed value
$2,346,513
Assessed 2024
Previous assessed
$2,346,513
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$624,667
Assessed improvement
$1,721,846
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1990
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Total area
10,752 SF
Lot
0.72 ac (31,276 SF)
APN
015-111-71
UPID
US09-0956851
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
Building & site characteristics
From public records
Year built
1990
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
2
Lot
0.72 ac
Current owner
From public records · entity-resolved
Lewis Mateo Lettunich
Individual
Mailing address
275 WESTGATE DR, WATSONVILLE, CA 95076-2470
Mailing matches property
Yes
Owner-occupied
Yes
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 27, 2025
—
Lewis Mateo Lettunich
Lewis Mateo Lettunich
Deed
related
—
Oct 11, 2013
—
Lewis M Lettunich
Lettunich,lewis M & Marcel
Quit Claim Deed
related
—
Mar 10, 1999
—
Lewis M Lettunich
Lettunich,lewis M & Marcel
Quit Claim Deed
related
$1,225,000 · Wells Fargo Bank
Jan 15, 1999
—
Lewis M Lettunich
Lettunich,lewis M & Marcel
Quit Claim Deed
related
—
Jan 15, 1999
$179,500
Lettunich,lewis M & Marcel
Moore,david E
Trustees Deed
related
—
Mar 23, 1992
$1,375,000
Lewis Lettunich
Ellenburg,capita
Grant Deed
$1,150,000 · Coast Commercial Bank
—
—
Lewis M Lettunich
—
Deed Of Trust
related
$882,885 · Wells Fargo Bank
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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