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Property profile & analytics
OFF-MARKET
Estimated value
$1,050,000
Industrial properties
500 Soquel Ave 23 Santa Cruz, CA 95062-2344
Trust Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-2188192
Property profile
Verified
Property type
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Year built
1924
Construction
WOOD
Total area
2,196 SF
Lot
0.29 ac (12,502 SF)
APN
010-051-05
UPID
US09-2188192
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 Avenue Apartments Apartment Building
-
Godmoma's Forge, LLC Marketing & Advertising (Bike/Boat/Book/etc) Store
-
The 50,000 Project Charitable Organization Social Service Agency
-
880 IT Services, LLC IT Consulting Firm (Bike/Boat/Book/etc) Store
-
Simply Skin Esthetics Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.21M
Comparable Approach
Comparable
$680k
Blend (final)
Blend
$1.05M
Owner & transaction history
Foster,carol L Trust · 7 yrs held
Foster,carol L Trust
since 2019
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%
$1,310,000
6.5%
$1,205,000
7%
$1,120,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$1,375,000
Current use
MEDICAL BUILDING
$1,140,000
Change: -17% · Conversion: Easy
RETAIL STORES
$1,100,000
Change: -20% · Conversion: Easy
Blend value · Realmo final
$1.05M
Range $945k – $1.16M · ±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
$478 / 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
$21,288
Tax year 2024
Assessed value
$1,902,061
Assessed 2024
Previous assessed
$1,902,061
+0.0% YoY
Effective rate
1.12%
On assessed value
Assessed land
$543,129
Assessed improvement
$1,358,932
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
Industrial properties
Use group
MIXED USE (COMMERCIAL/INDUSTRIAL)
Status
Off-Market
Year built
1924
Construction
WOOD
Heating
NONE
Bathrooms
1
Total area
2,196 SF
Lot
0.29 ac (12,502 SF)
APN
010-051-05
UPID
US09-2188192
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
COMMERCIAL (GENERAL) Current
Est. value
$1.4M
MEDICAL BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$1.1M
COMMERCIAL (GENERAL) Current
MEDICAL BUILDING
RETAIL STORES
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
1924
Construction
WOOD
Heating
NONE
Bathrooms
1
Lot
0.29 ac
Current owner
From public records · entity-resolved
Foster,carol L Trust
Trust
Free & Clear · 7 yrs held
Mailing address
405 LOCKE DR, APTOS, CA 95003-5235
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 30, 2019
—
Foster,carol L Trust
Soquel Avenue Apartments
Quit Claim Deed
—
Dec 4, 2018
—
Soquel Avenue Apartments
—
Deed
related
$2,525,000 · Wells Fargo Bank NA
Dec 14, 2010
$980,000
Soquel Avenue Apartments
Janis Bunch
Grant Deed
$2,970,000 · Wells Fargo Bank NA
Dec 14, 2010
—
Janis Bunch
Kenneally,robert J
Affidavit Of Death
related
—
Mar 16, 2006
—
Kenneally 1990 Family Trust
Kenneally Family Trust
Quit Claim Deed
related
—
Sep 24, 2004
—
Soquel Avenue Apartments
Foster,carol L
Grant Deed
related
—
Sep 3, 2004
—
Record Owner
Foster,blair & Carol
Grant Deed
related
—
Aug 2, 2002
—
Blair Foster
Pabst,benno
Quit Claim Deed
related
$2,275,000 · Coast Commercial Bank
—
—
Blair-carol Foster
—
Deed Of Trust
related
$125,000 · Debbie Foster
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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