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Property profile & analytics
OFF-MARKET
Estimated value
$510,000
Medical Office Space
507 Central Ave Pacific Grove, CA 93950-2704
Trust Owned
15-yr Hold
Free & Clear
Property ID
US09-1419283
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1962
Construction
WOOD
Total area
2,480 SF
Lot
0.09 ac (4,020 SF)
APN
006-175-011-000
UPID
US09-1419283
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
$310k
CAP Approach
CAP
$645k
Comparable Approach
Comparable
$326k
Blend (final)
Blend
$510k
Owner & transaction history
Still Richard M Trust · 15 yrs held
Still Richard M Trust
since 2011
3 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 Pacific Grove submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pacific Grove 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
$310,000
CAP Approach
CAP Return
Estimation
6%
$700,000
6.5%
$645,000
7%
$600,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$770,000
Current use
RETAIL STORES
$725,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$510k
Range $459k – $561k · ±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
$206 / 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
$8,677
Tax year 2023
Assessed value
$769,632
Assessed 2023
Previous assessed
$769,632
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$400,210
Assessed improvement
$369,422
Applied tax rate
4.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1962
Construction
WOOD
Heating
NONE
Stories
2
Units
1
Rooms
21
Bathrooms
3
Total area
2,480 SF
Lot
0.09 ac (4,020 SF)
APN
006-175-011-000
UPID
US09-1419283
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
MEDICAL BUILDING Current
Est. value
$770,000
RETAIL STORES
Est. value
$725,000
MEDICAL BUILDING Current
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
1962
Construction
WOOD
Heating
NONE
Stories
2
Units
1
Rooms
21
Bathrooms
3
Lot
0.09 ac
Current owner
From public records · entity-resolved
Still Richard M Trust
Trust
Free & Clear · 15 yrs held
Mailing address
1041 OXEN TRL, PEBBLE BEACH, CA 93953-2717
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 4, 2011
—
Still Richard M Trust
Still R M & J E Living Trust
Quit Claim Deed
related
—
May 4, 2011
$850,000
Nexo 98 LLC
Still Richard M Trust
Grant Deed
$425,000 · Rabobank
—
—
Nexo 98 LLC
—
Deed Of Trust
related
$349,000 · California Coastal Rural Dev
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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