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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Retail residential properties
515 Capitola Ave Capitola, CA 95010-2825
Trust Owned
Absentee Owner
~
Est. High Equity
Property ID
US09-2194401
Property profile
Verified
Property type
Retail residential properties
Use group
STORES & APARTMENTS
Year built
1949
Construction
WOOD
Total area
1,029 SF
Lot
0.09 ac (4,095 SF)
APN
035-093-08
UPID
US09-2194401
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
-
Heritage Salon Capitola Hair Salon Nail Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$395k
CAP Approach
CAP
$565k
Comparable Approach
Comparable
$378k
Blend (final)
Blend
$565k
Owner & transaction history
Simpkins Family Trust
Simpkins Family Trust
since 2026
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 Capitola submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Capitola 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
$395,000
CAP Approach
CAP Return
Estimation
6%
$615,000
6.5%
$565,000
7%
$525,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$645,000
Current use
RETAIL STORES
$550,000
Change: -14% · Conversion: Easy
MEDICAL BUILDING
$535,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$565k
Range $509k – $622k · ±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
$549 / 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 2024Property tax & assessments
Tax year 2024
Tax billed
$14,376
Tax year 2024
Assessed value
$1,119,371
Assessed 2024
Previous assessed
$1,119,371
+0.0% YoY
Effective rate
1.28%
On assessed value
Assessed land
$706,971
Assessed improvement
$412,400
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
Retail residential properties
Use group
STORES & APARTMENTS
Status
Off-Market
Year built
1949
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Stories
1
Units
1
Bathrooms
1
Total area
1,029 SF
Lot
0.09 ac (4,095 SF)
APN
035-093-08
UPID
US09-2194401
Jurisdiction
SANTA CRUZ
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
COMMERCIAL (GENERAL) Current
Est. value
$645,000
RETAIL STORES
Est. value
$550,000
MEDICAL BUILDING
Est. value
$535,000
COMMERCIAL (GENERAL) Current
RETAIL STORES
MEDICAL 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
1949
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Stories
1
Units
1
Bathrooms
1
Lot
0.09 ac
Current owner
From public records · entity-resolved
Simpkins Family Trust
Trust
Mailing address
352 SCHWANN LK DR, SANTA CRUZ, CA 95062-4645
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 21, 2026
—
Simpkins Family Trust
Russell Simpkins
Deed
related
—
May 11, 2015
$950,000
Russell Simpkins
Zelver Stephen M & Carol A
Grant Deed
—
Nov 23, 1998
$365,000
Stephen M Zelver
Crisp,rodney E & Sandra A
Grant Deed
$395,000 · Bank Of Los Altos
Feb 8, 1993
$220,000
Rodney E Crispi
Gist,sarawy
Grant Deed
$176,000 · Commercial Pacific S & L
—
—
Stephen M Zelver
—
Deed Of Trust
related
$60,000 · David A & Paula G Cole
—
—
Stephen M Zelver
—
Deed Of Trust
related
$100,000 · Countrywide Home Loans INC
—
—
Stephen M Zelver
—
Deed Of Trust
related
$170,000 · Countrywide Home Loans INC
—
—
Stephen M Zelver
—
Deed Of Trust
related
$417,000 · Countrywide Bank
—
—
Stephen M Zelver
—
Deed Of Trust
related
$319,000 · New Century Mortgage
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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