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Property profile & analytics
OFF-MARKET
Estimated value
$775,000
Office Spaces
505 Romie Ln 10 Salinas, CA 93901-4031
Individually Owned
19-yr Hold
Free & Clear
Property ID
US09-0681036
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1975
Total area
3,411 SF
Lot
0.1 ac (4,207 SF)
APN
002-705-012-000
UPID
US09-0681036
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
-
Mario Teering, PT Physician
-
Axis Physical Therapy Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$825k
CAP Approach
CAP
$865k
Comparable Approach
Comparable
$1.07M
Blend (final)
Blend
$775k
Owner & transaction history
Mario Teering · 19 yrs held
Mario Teering
since 2006
Last sale
$705,000
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.1M
+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
$780,000
ML approach
$825,000
CAP Approach
CAP Return
Estimation
6%
$935,000
6.5%
$865,000
7%
$805,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,010,000
Current use
MEDICAL BUILDING
$1,055,000
Change: +5% · Conversion: Easy
RETAIL STORES
$995,000
Change: -2% · Conversion: Moderate
COMMERCIAL (GENERAL)
$990,000
Change: -2% · Conversion: Easy
Blend value · Realmo final
$775k
Range $698k – $853k · ±10% · vs last sale $705k (Dec 31 2020)
Last sale anchor
$705k
Dec 31 2020
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
$227 / 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
$8,545
Tax year 2023
Assessed value
$733,482
Assessed 2023
Previous assessed
$733,482
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$327,726
Assessed improvement
$405,756
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
3,411 SF
Lot
0.1 ac (4,207 SF)
APN
002-705-012-000
UPID
US09-0681036
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
$1.0M
MEDICAL BUILDING
Est. value
$1.1M
RETAIL STORES
Est. value
$995,000
COMMERCIAL (GENERAL)
Est. value
$990,000
OFFICE BUILDING Current
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
1975
Heating
NONE
Stories
1
Units
1
Lot
0.1 ac
Current owner
From public records · entity-resolved
Mario Teering
Individual
Free & Clear · 19 yrs held
Mailing address
505 E ROMIE LN STE K, SALINAS, CA 93901-4031
Mailing matches property
Yes
Owner-occupied
Yes
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 28, 2006
—
Mario Teering
Teering,mario
Quit Claim Deed
related
—
Aug 17, 2005
—
Marcel Lak
Lak,marcel R
Quit Claim Deed
related
—
Aug 26, 2004
—
King Don R Trust
King,don R
Quit Claim Deed
related
—
Jul 18, 2001
$191,500
Don R King
Eldredge Trust
Grant Deed
—
Jul 5, 2001
—
Eldredge Trust
Eldredge & King
Quit Claim Deed
related
—
Jan 14, 2000
$220,000
Marcel R Lake
Curtis,john W
Grant Deed
$198,000 · Seller
—
—
C & C Property LLC
—
Deed Of Trust
$564,000 · R Don King Living Trust (lt)
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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