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Property profile & analytics
OFF-MARKET
Estimated value
$3,950,000
Office buildings
331 Soquel Ave, Santa Cruz, CA 95062-2323
Individually Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1018458
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1975
Construction
TILT-UP CONCRETE
Total area
11,608 SF
Lot
0.67 ac (29,316 SF)
APN
005-282-46
UPID
US09-1018458
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
-
Soquel Ocean Center Business Service Center Corporate Office
-
Law Offices of Lisa K. McCamey, A Professional Corporation Law Firm
-
Coast 1031 Exchange, Inc. Law Firm
-
Chad Hoesing Inc Tax Preparation
-
BIA Energy Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.56M
CAP Approach
CAP
$4.68M
Comparable Approach
Comparable
$3.64M
Blend (final)
Blend
$3.95M
Owner & transaction history
Santa Cruz Community Credit Union · 3 yrs held
Santa Cruz Community Credit Union
since 2023
Last sale
$3.3M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$6.0M
+52.3%
Retail stores
$5.8M
+47.1%
Auto repair, garage
$4.6M
+17.3%
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
$4,230,000
ML approach
$4,560,000
CAP Approach
CAP Return
Estimation
6%
$5,070,000
6.5%
$4,680,000
7%
$4,345,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$3,960,000
Current use
MEDICAL BUILDING
$6,025,000
Change: +52% · Conversion: Easy
RETAIL STORES
$5,820,000
Change: +47% · Conversion: Moderate
AUTO REPAIR, GARAGE
$4,645,000
Change: +17% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,040,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$3.95M
Range $3.56M – $4.35M · ±10% · vs last sale $3.29M (May 11 2023)
Last sale anchor
$3.29M
May 11 2023
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
$340 / 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
$30,441
Tax year 2024
Assessed value
$2,659,156
Assessed 2024
Previous assessed
$2,659,156
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$1,181,846
Assessed improvement
$1,477,310
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
1975
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
2
Total area
11,608 SF
Lot
0.67 ac (29,316 SF)
APN
005-282-46
UPID
US09-1018458
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
$4.0M
MEDICAL BUILDING
Est. value
$6.0M
RETAIL STORES
Est. value
$5.8M
AUTO REPAIR, GARAGE
Est. value
$4.6M
WAREHOUSE, STORAGE
Est. value
$4.0M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
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
1975
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
2
Lot
0.67 ac
Current owner
From public records · entity-resolved
Santa Cruz Community Credit Union
Individual
Mailing address
324 FRNT ST, SANTA CRUZ, CA 95060-4502
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2023
$3,294,000
Santa Cruz Community Credit Union
Sean S Tabatabai
Grant Deed
—
Oct 13, 2006
—
Sean S Tabatabai
Envision Media INC
Grant Deed
$1,800,000 · Washington Mutual Bank
Oct 20, 2000
$1,800,000
Envision Media INC
Schneider,george & Laura
Grant Deed
$1,170,000 · Wells Fargo Bank
Sep 3, 1999
$1,255,000
George Schneider
Mcphail Trust
Grant Deed
$750,000 · Monterey Bay Bank
—
—
Sean Tabatabai
—
Deed Of Trust
related
$500,000 · Matt Madison
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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