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Property profile & analytics
OFF-MARKET
Estimated value
$4,010,000
Office buildings
2901 Msn Std Santa Cruz, CA 95060-5709
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US09-1628985
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2003
Construction
WOOD
Total area
9,876 SF
Lot
0.9 ac (39,378 SF)
APN
003-011-08
UPID
US09-1628985
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
-
Solar Rebate Santa Cruz Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.67M
CAP Approach
CAP
$3.98M
Comparable Approach
Comparable
$2.64M
Blend (final)
Blend
$4.01M
Owner & transaction history
Westside 12 LLC · 5 yrs held
Westside 12 LLC
since 2021
Last sale
$3.9M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.4M
+49.8%
Restaurant
$5.9M
+39.3%
Retail stores
$5.9M
+38.2%
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 Santa Cruz submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Cruz 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
$4,265,000
ML approach
$4,665,000
CAP Approach
CAP Return
Estimation
6%
$4,315,000
6.5%
$3,980,000
7%
$3,700,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,250,000
Current use
COMMERCIAL (GENERAL)
$6,370,000
Change: +50% · Conversion: Easy
RESTAURANT
$5,925,000
Change: +39% · Conversion: Moderate
RETAIL STORES
$5,875,000
Change: +38% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$5,855,000
Change: +38% · Conversion: Easy
MEDICAL BUILDING
$5,125,000
Change: +21% · Conversion: Easy
AUTO REPAIR, GARAGE
$3,950,000
Change: -7% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,435,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$4.01M
Range $3.61M – $4.41M · ±10% · vs last sale $3.90M (Jun 25 2021)
Last sale anchor
$3.90M
Jun 25 2021
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
$406 / 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
$425
Tax year 2024
Assessed value
$4,137,119
Assessed 2024
Previous assessed
$4,137,119
+0.0% YoY
Effective rate
0.01%
On assessed value
Assessed land
$1,834,298
Assessed improvement
$2,302,821
Applied tax rate
1.0000
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
2003
Construction
WOOD
Heating
NONE
Stories
1
Units
6
Total area
9,876 SF
Lot
0.9 ac (39,378 SF)
APN
003-011-08
UPID
US09-1628985
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
OFFICE BUILDING Current
Est. value
$4.3M
COMMERCIAL (GENERAL)
Est. value
$6.4M
RESTAURANT
Est. value
$5.9M
RETAIL STORES
Est. value
$5.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.9M
MEDICAL BUILDING
Est. value
$5.1M
AUTO REPAIR, GARAGE
Est. value
$4.0M
WAREHOUSE, STORAGE
Est. value
$3.4M
OFFICE BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
MEDICAL BUILDING
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
2003
Construction
WOOD
Heating
NONE
Stories
1
Units
6
Lot
0.9 ac
Current owner
From public records · entity-resolved
Westside 12 LLC
Entity
Mailing address
225 ZAYANTE SCHOOL RD, FELTON, CA 95018-9063
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 25, 2021
$3,898,000
Westside 12 LLC
29 Santa Cruz LLC
Grant Deed
—
May 15, 2015
$3,600,000
29 Santa Cruz LLC
Wave Crest Dev INC
Grant Deed
—
Dec 28, 2011
—
Wave Crest Development INC
Encinal Partnership No 1
Grant Deed
—
Feb 24, 1994
—
Encinal Partnership #1
Wave Crest Devel
Grant Deed
related
—
—
—
Encinal Partnership #1
—
Deed Of Trust
related
$400,000 · Coast Commercial Bank
—
—
Wave Crest Development INC
—
Deed Of Trust
related
$1,790,000 · Santa Cruz County Bank
—
—
Crest Dev I Wave
—
Deed Of Trust
related
$250,000 · Pacific Western National Bank
—
—
Encinal Partnership #1
—
Deed Of Trust
related
$2,205,000 · Washington Mutual Fsb
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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