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Property profile & analytics
OFF-MARKET
Estimated value
$2,650,000
Medical Office Space
3003 Paul Sweet Rd, Santa Cruz, CA 95065-1503
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US09-1165118
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1990
Construction
WOOD
Total area
6,579 SF
Lot
0.59 ac (25,788 SF)
Zoning code
PA
APN
025-054-16
UPID
US09-1165118
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
-
Santa Cruz Surgery Center Medical Clinic Hospital
-
ALVIE S HURRAY Physician
-
THOMAS J WELLE Physician
-
Douglas Hetzler Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.13M
Comparable Approach
Comparable
$1.67M
Blend (final)
Blend
$2.65M
Owner & transaction history
Dominican Health Services · 3 yrs held
Dominican Health Services
since 2022
4 recorded transactions
Zoning & alternative use
PA · Santa Cruz, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$4.4M
+29.1%
Commercial (general)
$4.1M
+20.7%
Restaurant
$3.9M
+15.5%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$3,385,000
6.5%
$3,125,000
7%
$2,900,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,415,000
Current use
APARTMENT HOUSE (5+ UNITS)
$4,410,000
Change: +29% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,125,000
Change: +21% · Conversion: Easy
RESTAURANT
$3,945,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$3,300,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$2.65M
Range $2.39M – $2.92M · ±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
$403 / 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
$43,616
Tax year 2024
Assessed value
$3,571,460
Assessed 2024
Previous assessed
$3,571,460
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$866,862
Assessed improvement
$2,704,598
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1990
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
1
Total area
6,579 SF
Lot
0.59 ac (25,788 SF)
Zoning code
PA
APN
025-054-16
UPID
US09-1165118
Jurisdiction
SANTA CRUZ
Zoning & alternative use
PA · Santa Cruz, CA
Zoning PA · permitted uses
PA · Santa Cruz, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Santa Cruz. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
MEDICAL BUILDING Current
Est. value
$3.4M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.4M
COMMERCIAL (GENERAL)
Est. value
$4.1M
RESTAURANT
Est. value
$3.9M
RETAIL STORES
Est. value
$3.3M
MEDICAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
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
1990
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
1
Lot
0.59 ac
Current owner
From public records · entity-resolved
Dominican Health Services
Individual
Mailing address
3003 PAUL SWEET RD, SANTA CRUZ, CA 95065-1503
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2022
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
Jul 12, 2022
—
Dominican Health Services
Santa Cruz Land And Building LP
Grant Deed
—
Aug 5, 1991
$500,000
Land Santa Cruz
Dominican,health
Grant Deed
—
—
—
Land Santa Cruz
—
Deed Of Trust
related
$1,300,000 · Bank Of America
—
—
Land Santa Cruz
—
Deed Of Trust
related
$1,047,150 · Bank Of America
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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