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Property profile & analytics
OFF-MARKET
Estimated value
$1,190,000
Office buildings
2941 Park Ave Ste B, Soquel, CA 95073-2830
Individually Owned
7-yr Hold
Free & Clear
Property ID
US09-2205916
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1981
Construction
WOOD
Total area
4,107 SF
Lot
0.26 ac (11,326 SF)
Zoning code
PA
APN
037-211-27
UPID
US09-2205916
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
-
Worrell-Merritt Acupuncture Medical Clinic Alternative Medicine Practice
-
Jeff Beeman Industrial Injured Medical Clinic
-
Argo Logistics Group, LLC Logistics Company Freight Service
-
Jennifer Root Alternative Medicine Practice Acupuncture
-
Calmosphere Wellness Medical Clinic Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.66M
Comparable Approach
Comparable
$775k
Blend (final)
Blend
$1.19M
Owner & transaction history
Galadriel Loftus · 7 yrs held
Galadriel Loftus
since 2019
4 recorded transactions
Zoning & alternative use
PA · Soquel, 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 Soquel submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Soquel 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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,795,000
6.5%
$1,655,000
7%
$1,540,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,740,000
Current use
AUTO REPAIR, GARAGE
$1,645,000
Change: -6% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,430,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$1.19M
Range $1.07M – $1.31M · ±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
$290 / 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
$16,418
Tax year 2024
Assessed value
$1,285,034
Assessed 2024
Previous assessed
$1,285,034
+0.0% YoY
Effective rate
1.28%
On assessed value
Assessed land
$710,870
Assessed improvement
$574,164
Applied tax rate
96.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1981
Construction
WOOD
Heating
NONE
Stories
2
Units
5
Total area
4,107 SF
Lot
0.26 ac (11,326 SF)
Zoning code
PA
APN
037-211-27
UPID
US09-2205916
Jurisdiction
SANTA CRUZ
Zoning & alternative use
PA · Soquel, CA
Zoning PA · permitted uses
PA · Soquel, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Soquel. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$1.4M
OFFICE BUILDING Current
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
1981
Construction
WOOD
Heating
NONE
Stories
2
Units
5
Lot
0.26 ac
Current owner
From public records · entity-resolved
Galadriel Loftus
Individual
Free & Clear · 7 yrs held
Mailing address
2941 PARK AVE, SOQUEL, CA 95073-2830
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 19, 2019
—
Galadriel Loftus
Loftus Georgia Z Trust
Quit Claim Deed
related
—
Mar 15, 2019
$1,175,000
2941 Park Ave LLC
Jerome Leite
Grant Deed
$1,168,100 · Wells Fargo Bank NA
Oct 10, 2018
—
Loftus,georgia Z Trust
Loftus,georgia Z
Affidavit Of Death
related
—
Jul 27, 2018
—
Loftus,georgia Z Trust
Loftus,georgia
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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