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Property profile & analytics
OFF-MARKET
Estimated value
$550,000
Retail properties & Spaces
384 Espinosa Rd, Salinas, CA 93907-8895
Entity Owned
7-yr Hold
~
Est. High Equity
Property ID
US09-2322692
Property profile
Verified
Property type
Retail properties & Spaces
Use group
NURSERY, GREENHOUSE, FLORIST
Year built
1978
Construction
WOOD
Total area
4,366 SF
Lot
100.26 ac (4,367,325 SF)
APN
253-012-003-000
UPID
US09-2322692
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
$405k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$696k
Blend (final)
Blend
$550k
Owner & transaction history
New Terrain LLC · 7 yrs held
New Terrain LLC
since 2019
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$810,000
+87.2%
Auto repair, garage
$735,000
+69.8%
Office building
$660,000
+52.7%
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 Salinas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salinas 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
$405,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FARM SUPPLY & EQUIPMENT (COMMERCIAL)
$435,000
Current use
COMMERCIAL (GENERAL)
$810,000
Change: +87% · Conversion: Difficult
AUTO REPAIR, GARAGE
$735,000
Change: +70% · Conversion: Difficult
OFFICE BUILDING
$660,000
Change: +53% · Conversion: Difficult
MEDICAL BUILDING
$430,000
Change: -1% · Conversion: Difficult
Blend value · Realmo final
$550k
Range $495k – $605k · ±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
$126 / 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
$186,064
Tax year 2023
Assessed value
$15,830,746
Assessed 2023
Previous assessed
$15,830,746
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$13,992,236
Assessed improvement
$1,838,510
Applied tax rate
122.0000
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
Retail properties & Spaces
Use group
NURSERY, GREENHOUSE, FLORIST
Status
Off-Market
Year built
1978
Construction
WOOD
Heating
NONE
Stories
1
Units
1
Rooms
13
Bathrooms
3
Total area
4,366 SF
Lot
100.26 ac (4,367,325 SF)
APN
253-012-003-000
UPID
US09-2322692
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
FARM SUPPLY & EQUIPMENT (COMMERCIAL) Current
Est. value
$435,000
COMMERCIAL (GENERAL)
Est. value
$810,000
AUTO REPAIR, GARAGE
Est. value
$735,000
OFFICE BUILDING
Est. value
$660,000
MEDICAL BUILDING
Est. value
$430,000
FARM SUPPLY & EQUIPMENT (COMMERCIAL) Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
MEDICAL BUILDING
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
1
Units
1
Rooms
13
Bathrooms
3
Lot
100.26 ac
Current owner
From public records · entity-resolved
New Terrain LLC
Entity
Mailing address
3742 BLUE BIRD CYN RD, VISTA, CA 92084-7432
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 17, 2025
—
New Terrain LLC
—
Deed
related
—
May 2, 2019
$14,500,000
New Terrain LLC
Atc Realty Nine INC
Grant Deed
$31,000,000 · Wells Fargo Bank NA
Aug 20, 2018
—
Atc Realty Nine INC
Color Spot Nurseries INC
Quit Claim Deed
—
Jun 15, 2017
—
Color Spot Nurseries INC
—
Loan Modification
related
$97,500,000 · Wells Fargo Bk
Oct 20, 2016
$5,625,000
Color Spot Nurseries INC
Monterey Roses LLC
Grant Deed
$28,700,000 · Capital Farm Credit Flca
Jun 13, 2013
—
Color Spot Nurseries INC
—
Loan Modification
related
$106,000,000 · Wells Fargo Bank
Jan 31, 1995
$1,500,000
Monterey Roses LLC
Mount Eden Nursery Company
Trustees Deed
$1,499,000 · Seller
Jan 31, 1995
—
Roses LLC
Mount Eden Nursery
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.
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