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Property profile & analytics
OFF-MARKET
Office Spaces
505 Romie Ln Salinas, CA 93901-4031
Entity Owned
Free & Clear
Property ID
US09-1601943
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1975
Total area
1,376 SF
APN
002-705-009-000
UPID
US09-1601943
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
-
Saini Amarpreet S DDS Dental Office
-
Jack Lin DDS Dental Office
-
Carey-Leah Havrilko, PT Physician
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Mario Teering, PT Physician
-
Axis Physical Therapy Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Fs Capital LLC
Fs Capital LLC
since 2025
Last sale
$560,000
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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$3,881
Tax year 2023
Assessed value
$324,981
Assessed 2023
Previous assessed
$324,981
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$110,784
Assessed improvement
$214,197
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 Spaces
Use group
CONDOMINIUM OFFICES
Status
Off-Market
Year built
1975
Heating
NONE
Stories
1
Units
1
Total area
1,376 SF
APN
002-705-009-000
UPID
US09-1601943
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
Building & site characteristics
From public records
Year built
1975
Heating
NONE
Stories
1
Units
1
Current owner
From public records · entity-resolved
Fs Capital LLC
Entity
Free & Clear · 0 yrs held
Mailing address
1303 DAVID AVE, PACIFIC GROVE, CA 93950-5508
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
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 12, 2025
$560,000
Fs Capital LLC
Brugmen Teering Living Trust
Grant Deed
—
Dec 31, 2020
—
C & C Property LLC
—
Deed
$564,000 · R Don King Living Trust (lt)
Dec 29, 2020
—
Jose M Alvarez
Beatriz A V Alvarez
Quitclaim Deed
related
—
Jan 26, 2018
—
Los Palos Partners LLC
—
Grant Deed
related
$1,695,000 · First Cap Bk
Mar 17, 2017
—
Ostarello,roger A Trust
Ostarello Properties LP
Quitclaim Deed
related
—
Mar 17, 2017
$222,000
Russell Ostarello
Ostarello Family Trust
Grant Deed
related
—
Mar 10, 2017
—
Brugman-teering Living Trust
Teering,mario
Quit Claim Deed
related
—
Mar 1, 2017
—
Ostarello,julie M Trust
Ostarello,julie M
Quitclaim Deed
related
—
Oct 5, 2016
—
Ostarello,lisa D 2004 Trust
Ostarello,lisa D
Quitclaim Deed
related
—
Aug 24, 2016
—
Ostarello Family Trust
Ostarello,roger A
Quitclaim Deed
related
—
Jul 18, 2016
—
Ostarello,roger A Trust
Ostarello Properties LP
Quitclaim Deed
related
—
Mar 3, 2016
—
Marcel Lak
Lak,marcel & Meagan
Quit Claim Deed
related
—
Aug 31, 2005
—
Marcel R Lak
Teering,mario
Grant 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.
Try Rey
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