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Property profile & analytics
OFF-MARKET
Estimated value
$3,575,000
Turn key restaurants
400 Spain St Sonoma, CA 95476-5625
Entity Owned
~
Est. High Equity
Property ID
US09-0107294
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1864
Construction
WOOD
Total area
4,817 SF
Lot
1.3 ac (56,628 SF)
APN
018-111-058-000
UPID
US09-0107294
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
$3.84M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.15M
Blend (final)
Blend
$3.58M
Owner & transaction history
Tc III West Spain Owner LLC
Tc III West Spain Owner LLC
since 2026
Last sale
$3.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.0M
+27.5%
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 Sonoma submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sonoma 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
$3,900,000
ML approach
$3,835,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,330,000
Current use
COMMERCIAL (GENERAL)
$2,970,000
Change: +28% · Conversion: Easy
OFFICE BUILDING
$2,215,000
Change: -5% · Conversion: Moderate
Blend value · Realmo final
$3.58M
Range $3.22M – $3.93M · ±10% · vs last sale $3.50M (Jun 20 2023)
Last sale anchor
$3.50M
Jun 20 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
$742 / 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
$54,747
Tax year 2024
Assessed value
$2,504,446
Assessed 2024
Previous assessed
$2,504,446
+0.0% YoY
Effective rate
2.19%
On assessed value
Assessed land
$1,093,645
Assessed improvement
$1,410,801
Applied tax rate
6.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1864
Construction
WOOD
Heating
NONE
Cooling
YES
Stories
2
Rooms
10
Bathrooms
3
Total area
4,817 SF
Lot
1.3 ac (56,628 SF)
APN
018-111-058-000
UPID
US09-0107294
Jurisdiction
SONOMA
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
RESTAURANT Current
Est. value
$2.3M
COMMERCIAL (GENERAL)
Est. value
$3.0M
OFFICE BUILDING
Est. value
$2.2M
RESTAURANT Current
COMMERCIAL (GENERAL)
OFFICE 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
1864
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Rooms
10
Bathrooms
3
Lot
1.3 ac
Current owner
From public records · entity-resolved
Tc III West Spain Owner LLC
Entity
Mailing address
PO BOX 5490, VACAVILLE, CA 95696-5490
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 6, 2026
$2,620,000
Tc III West Spain Owner LLC
Mattson Lefever
Grant Deed
—
Jun 20, 2023
$3,500,000
Windscape Apartments LLC
Lefever Mattson
Grant Deed
—
Feb 1, 2019
$2,290,000
Lefever Mattson
Darius W Anderson
Grant Deed
$150,000 · Comerica Bank
Feb 1, 2019
—
Anderson Trust
Hall James L Trust
Correction Deed
related
—
Oct 1, 2012
$1,700,000
Anderson Trust
Hall James L Trust
Grant Deed
$1,595,000 · Hall James L Trust
Mar 31, 2005
$2,150,000
James L Hall
Suzanne Brangham
Grant Deed
$1,720,000 · Sonoma Valley Bank
Apr 1, 1994
$1,575,000
Brangham Trust
Classix INC
Grant Deed
related
$1,600,000 · Seller
—
—
Anderson Trust
—
Deed Of Trust
related
$245,000 · Hall James L & B B Trust (rt)
—
—
Brangham Trust
—
Deed Of Trust
related
$780,000 · Sonoma Valley 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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