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Property profile & analytics
OFF-MARKET
Estimated value
$850,000
Retail space
503 Market St 505 Salinas, CA 93905-2528
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US10-2758116
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1989
Construction
WOOD
Total area
3,920 SF
APN
004-023-027-000
UPID
US10-2758116
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
$875k
CAP Approach
CAP
$860k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$850k
Owner & transaction history
H & Mlr LLC · 1 yrs held
H & Mlr LLC
since 2025
Last sale
$850,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.2M
+7.4%
Medical building
$1.2M
+6.2%
Office building
$1.2M
+0.6%
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
$810,000
ML approach
$875,000
CAP Approach
CAP Return
Estimation
6%
$935,000
6.5%
$860,000
7%
$800,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,145,000
Current use
COMMERCIAL (GENERAL)
$1,225,000
Change: +7% · Conversion: Easy
MEDICAL BUILDING
$1,215,000
Change: +6% · Conversion: Difficult
OFFICE BUILDING
$1,150,000
Change: +1% · Conversion: Easy
Blend value · Realmo final
$850k
Range $765k – $935k · ±10% · vs last sale $850k (May 6 2025)
Last sale anchor
$850k
May 6 2025
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
$217 / 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
$11,426
Tax year 2023
Assessed value
$980,982
Assessed 2023
Previous assessed
$980,982
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$359,207
Assessed improvement
$621,775
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1989
Construction
WOOD
Heating
NONE
Buildings
3
Stories
1
Rooms
1
Bathrooms
2
Total area
3,920 SF
APN
004-023-027-000
UPID
US10-2758116
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
RETAIL STORES Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.2M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.2M
RETAIL STORES Current
COMMERCIAL (GENERAL)
MEDICAL BUILDING
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
1989
Construction
WOOD
Heating
NONE
Stories
1
Buildings
3
Rooms
1
Bathrooms
2
Current owner
From public records · entity-resolved
H & Mlr LLC
Entity
Mailing address
PO BOX 2284, SALINAS, CA 93902-2284
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2025
—
H & Mlr LLC
—
Deed
related
$510,000 · Pacific Valley Bank
May 6, 2025
—
H & Mlr LLC
Veronica Rubio
Deed
related
—
Aug 23, 2023
—
Veronica Rubio
Veronica Rubio
Intrafamily Transfer
related
—
Jun 13, 2022
—
Julio C Sanchez
Julio Sanchez
Intrafamily Transfer
related
—
Oct 20, 2015
—
Veronica Rubio
Veronica Rubio
Intrafamily Transfer
related
$666,000 · Pacific Valley Bank
Jan 3, 2002
$850,000
Veronica Rubio
Lee Trust
Grant Deed
$725,000 · Lee Trust
Nov 26, 2001
—
Lee Trust
Lee Trust
Quit Claim Deed
related
—
Nov 23, 1998
—
Lee Trust
Lee,kenneth K & Margie C
Quit Claim Deed
related
—
Apr 7, 1993
—
Kenneth K Lee
Lee Trust
Quit Claim Deed
related
$355,000 · Bank Of Santa Clara
Jan 30, 1990
$334,000
Lee Kenneth K
Lee,hung W
Grant Deed
related
$100,000
—
—
Veronica Rubio
—
Deed Of Trust
related
$30,000 · Oh Yong S & Hye K Trust
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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