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Property profile & analytics
OFF-MARKET
Estimated value
$1,245,000
Office buildings
509 Hartnell St Monterey, CA 93940-2825
Trust Owned
16-yr Hold
~
Est. High Equity
Property ID
US09-1323031
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1939
Construction
TILT-UP CONCRETE
Total area
4,310 SF
Lot
0.15 ac (6,590 SF)
APN
001-581-011-000
UPID
US09-1323031
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
-
Big Sur Land Trust Charitable Organization Social Service Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$995k
Comparable Approach
Comparable
$1.32M
Blend (final)
Blend
$1.25M
Owner & transaction history
The Big Sur Land Trust · 16 yrs held
The Big Sur Land Trust
since 2010
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 Monterey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monterey 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%
$1,075,000
6.5%
$995,000
7%
$920,000
Blend value · Realmo final
$1.25M
Range $1.12M – $1.37M · ±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
$289 / 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
$81
Tax year 2023
Assessed value
$1,271,707
Assessed 2023
Previous assessed
$1,271,707
+0.0% YoY
Effective rate
0.01%
On assessed value
Assessed land
$403,220
Assessed improvement
$868,487
Applied tax rate
3.0000
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 buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
Off-Market
Year built
1939
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
2
Units
1
Rooms
3
Bathrooms
2
Total area
4,310 SF
Lot
0.15 ac (6,590 SF)
APN
001-581-011-000
UPID
US09-1323031
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
1939
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
2
Units
1
Rooms
3
Bathrooms
2
Lot
0.15 ac
Current owner
From public records · entity-resolved
The Big Sur Land Trust
Trust
Mailing address
PO BOX 4071, MONTEREY, CA 93942-4071
Ownership since
2010
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 17, 2020
—
The Big Sur Land Trust
—
Deed
related
$1,500,000 · Pacific Valley Bank
Mar 1, 2010
—
The Big Sur Land Trust
Sam Gores
Grant Deed
$768,750 · First Capital Bank
Sep 30, 2005
—
Gores Sam Trust
Monterey Peninsula Artists INC
Grant Deed
$892,500 · City National Bank
Feb 24, 1992
$830,000
Monterey Peninsu
Richter,theodore
Grant Deed
—
—
—
Big,sur Land Trust
—
Deed Of Trust
related
$697,000 · Conservation Fund
—
—
Monterey Peninsu
—
Deed Of Trust
related
$400,000 · Wells Fargo Bank
—
—
Theodore Richter
—
Deed Of Trust
related
$510,000 · Sumitomo Bank
—
—
Monterey Peninsula Artists INC
—
Deed Of Trust
related
$655,000 · Wells Fargo Bank
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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