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Property profile & analytics
OFF-MARKET
Estimated value
$3,190,000
Office buildings
303 Water St Ste 140, Santa Cruz, CA 95060-4026
Individually Owned
17-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1719095
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1978
Construction
WOOD
Total area
14,038 SF
Lot
0.32 ac (14,070 SF)
APN
008-323-12
UPID
US09-1719095
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.19M
Owner & transaction history
Encina Inv Grp Of Water Street Ll · 17 yrs held
Encina Inv Grp Of Water Street Ll
since 2008
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 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,885,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$3.19M
Range $2.87M – $3.51M · ±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
$227 / 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
$31,957
Tax year 2024
Assessed value
$2,878,524
Assessed 2024
Previous assessed
$2,878,524
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,487,244
Assessed improvement
$1,391,280
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
1978
Construction
WOOD
Heating
NONE
Stories
2
Units
20
Total area
14,038 SF
Lot
0.32 ac (14,070 SF)
APN
008-323-12
UPID
US09-1719095
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
WAREHOUSE, STORAGE
Est. value
$4.9M
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
1978
Construction
WOOD
Heating
NONE
Stories
2
Units
20
Lot
0.32 ac
Current owner
From public records · entity-resolved
Encina Inv Grp Of Water Street Ll
Individual
Mailing address
1999 S BASCOM AVE, CAMPBELL, CA 95008-2216
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 23, 2008
—
Encina Inv Grp Of Water Street Ll
Porfido 1988 Family Trustpt
Grant Deed
—
Jun 30, 2006
—
Record Owner
Porfido Dorothy L
Grant Deed
related
—
Feb 14, 2005
—
Record Owner
Porfido Dorothy L
Grant Deed
related
—
Sep 30, 2002
$1,407,000
Lewis D Hutchins
—
Grant Deed
related
—
Nov 15, 2001
—
Lewis D Hutchins
Hampshire Investments LLC
Grant Deed
related
—
Apr 9, 1998
—
Lewis D Hutchins
—
Deed Of Trust
related
$1,000,000 · Safeco Life Insurance Co
Jul 22, 1992
—
Lewis D Hutchins
—
Deed Of Trust
related
—
Sep 16, 1977
$731,000
Ronald M Israel
Owner Name Unavailable
Grant Deed
related
—
—
—
Lewis D Hutchins
—
Deed Of Trust
related
$150,000 · Western Peaks Financial Corp
—
—
Lewis D Hutchins
—
Deed Of Trust
related
$201,940 · Sumitomo Bank
—
—
Encina Investment Group Of Water
—
Deed Of Trust
related
$1,001,000 · Union 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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