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Property profile & analytics
OFF-MARKET
Estimated value
$1,035,000
Office buildings
423 Pajaro St, Salinas, CA 93901-3448
Trust Owned
20-yr Hold
~
Est. High Equity
Property ID
US10-3069180
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2001
Construction
WOOD
Total area
4,153 SF
Lot
0.16 ac (6,875 SF)
APN
002-353-025-000
UPID
US10-3069180
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
-
Robert C. Rosett Physician
-
Robert C. Rosett, MD Pediatrician Physician
-
Christa Balch, MD Physician
-
Affordable Bail Bonds Salinas Law Firm
-
Ideal Protein Salinas @ MBayCIH Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.06M
Comparable Approach
Comparable
$981k
Blend (final)
Blend
$1.04M
Owner & transaction history
Nieto Trust · 20 yrs held
Nieto Trust
since 2006
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.7M
+34.8%
Medical building
$1.3M
+4.6%
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
by Request
CAP Approach
CAP Return
Estimation
6%
$1,140,000
6.5%
$1,055,000
7%
$975,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,230,000
Current use
AUTO REPAIR, GARAGE
$1,655,000
Change: +35% · Conversion: Difficult
MEDICAL BUILDING
$1,285,000
Change: +5% · Conversion: Easy
RETAIL STORES
$1,210,000
Change: -2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,210,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$1.04M
Range $932k – $1.14M · ±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
$249 / 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
$13,967
Tax year 2023
Assessed value
$1,200,000
Assessed 2023
Previous assessed
$1,200,000
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$600,000
Assessed improvement
$600,000
Applied tax rate
5.0000
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
2001
Construction
WOOD
Heating
NONE
Buildings
3
Stories
1
Rooms
7
Bathrooms
6
Total area
4,153 SF
Lot
0.16 ac (6,875 SF)
APN
002-353-025-000
UPID
US10-3069180
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
OFFICE BUILDING Current
Est. value
$1.2M
AUTO REPAIR, GARAGE
Est. value
$1.7M
MEDICAL BUILDING
Est. value
$1.3M
RETAIL STORES
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.2M
OFFICE BUILDING Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
2001
Construction
WOOD
Heating
NONE
Stories
1
Buildings
3
Rooms
7
Bathrooms
6
Lot
0.16 ac
Current owner
From public records · entity-resolved
Nieto Trust
Trust
Mailing address
1126 ORINDA WAY, SALINAS, CA 93901-1081
Ownership since
2006
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
Aug 8, 2019
—
Carlos Nieto
—
Deed
related
$450,000 · Pacific Valley Bank
Jan 27, 2006
—
Nieto Trust
Nieto,carlos & Maria I
Quit Claim Deed
related
—
Jan 19, 2006
$1,200,000
Carlos Nieto
Dinner,suzanne M
Grant Deed
$700,000 · Tamalpais Bank
Jan 19, 2006
—
Suzanne M Dinner
Dinner,michael B
Affidavit Of Death
related
—
—
—
Nieto Living Trust
—
Deed Of Trust
related
$186,000 · Pacific Valley Bank
—
—
Nieto Living Trust
—
Deed Of Trust
related
$4,500,000 · Pacific Vly Bk
—
—
Carlos Nieto
—
Deed Of Trust
related
$200,000 · Suzanne M Dinner
—
—
Nieto Living Trust
—
Deed Of Trust
related
$550,000 · Pacific 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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