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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Industrial properties
2969 Salinas Hwy B17 Monterey, CA 93940-5831
Individually Owned
5-yr Hold
Free & Clear
Property ID
US09-5661465
Property profile
Verified
Property type
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Year built
2019
Total area
1,216 SF
Lot
0.02 ac (914 SF)
APN
259-022-028-000
UPID
US09-5661465
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
$555k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$733k
Blend (final)
Blend
$565k
Owner & transaction history
Ryan Tyler Cairns · 5 yrs held
Ryan Tyler Cairns
since 2021
Last sale
$578,000
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$660,000
+10.6%
Commercial (general)
$610,000
+2.0%
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 Monterey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monterey 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
$490,000
ML approach
$555,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$600,000
Current use
OFFICE BUILDING
$660,000
Change: +11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$610,000
Change: +2% · Conversion: Difficult
AUTO REPAIR, GARAGE
$485,000
Change: -19% · Conversion: Easy
Blend value · Realmo final
$565k
Range $509k – $622k · ±10% · vs last sale $578k (Apr 5 2021)
Last sale anchor
$578k
Apr 5 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
$465 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$6,511
Tax year 2023
Assessed value
$600,935
Assessed 2023
Previous assessed
$600,935
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$114,444
Assessed improvement
$486,491
Applied tax rate
3.0000
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
Industrial properties
Use group
CONDOMINIUMS (INDUSTRIAL)
Status
Off-Market
Year built
2019
Heating
NONE
Stories
2
Total area
1,216 SF
Lot
0.02 ac (914 SF)
APN
259-022-028-000
UPID
US09-5661465
Jurisdiction
MONTEREY
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
INDUSTRIAL (GENERAL) Current
Est. value
$600,000
OFFICE BUILDING
Est. value
$660,000
COMMERCIAL (GENERAL)
Est. value
$610,000
AUTO REPAIR, GARAGE
Est. value
$485,000
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2019
Heating
NONE
Stories
2
Lot
0.02 ac
Current owner
From public records · entity-resolved
Ryan Tyler Cairns
Individual
Free & Clear · 5 yrs held
Mailing address
12200 WINTON WAY, LOS ALTOS HILLS, CA 94024-6448
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 5, 2021
$578,000
Ryan Tyler Cairns
Bradley K Hook
Grant Deed
—
Dec 18, 2020
—
Bradley K Hook
—
Deed
related
$250,000 · Avidbank
Aug 31, 2020
$395,000
Bradley K Hook
Monterey Motorsport Park LLC
Grant Deed
—
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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