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Property profile & analytics
OFF-MARKET
Estimated value
$980,000
Retail space
531 Corralitos Rd D Watsonville, CA 95076-0539
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-0751624
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1938
Construction
WOOD
Total area
2,116 SF
Lot
0.42 ac (18,382 SF)
Zoning code
C-1
APN
108-301-11
UPID
US09-0751624
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
-
The Hair Studio, Corralitos Hair Salon
-
Taqueria Los Pericos Restaurant
-
Big J's Pizza Restaurant
-
Veranda Ice Cream Grocery & Convenience Store Specialty Food Shop
-
Veranda In Corralitos Hotel & Motel Resort
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.31M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$980k
Owner & transaction history
N&f Properties LLC · 8 yrs held
N&f Properties LLC
since 2017
7 recorded transactions
Zoning & alternative use
C-1 · Watsonville, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.3M
+16.9%
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 Watsonville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Watsonville 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%
$1,410,000
6.5%
$1,305,000
7%
$1,210,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,135,000
Current use
COMMERCIAL (GENERAL)
$1,325,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$1,100,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$980k
Range $882k – $1.08M · ±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
$463 / 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
$12,818
Tax year 2024
Assessed value
$948,191
Assessed 2024
Previous assessed
$948,191
+0.0% YoY
Effective rate
1.35%
On assessed value
Assessed land
$568,915
Assessed improvement
$379,276
Applied tax rate
69.0000
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 space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1938
Construction
WOOD
Heating
NONE
Stories
1
Units
3
Rooms
2
Bathrooms
1
Total area
2,116 SF
Lot
0.42 ac (18,382 SF)
Zoning code
C-1
APN
108-301-11
UPID
US09-0751624
Jurisdiction
SANTA CRUZ
Zoning & alternative use
C-1 · Watsonville, CA
Zoning C-1 · permitted uses
C-1 · Watsonville, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Watsonville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$1.1M
COMMERCIAL (GENERAL)
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.1M
RETAIL STORES Current
COMMERCIAL (GENERAL)
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
1938
Construction
WOOD
Heating
NONE
Stories
1
Units
3
Rooms
2
Bathrooms
1
Lot
0.42 ac
Current owner
From public records · entity-resolved
N&f Properties LLC
Entity
Mailing address
120 ORCH HTS LN, CORRALITOS, CA 95076-0246
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2017
$850,000
N&f Properties LLC
Kevin Fennimore
Grant Deed
$490,000 · Santa Cruz County Bank
Nov 2, 2007
—
Fennimore Family Trust
Fennimore Trust
Quit Claim Deed
related
—
Jun 1, 1999
$244,090
Fennimore Trust
Bella Investments
Grant Deed
$90,000 · Seller
Nov 15, 1995
$1,000
Bella Investments
M Lewis INC
Grant Deed
related
$200,000 · M Lewis INC
Jul 27, 1995
—
Monte R Lewis
Lewis,betty B
Quit Claim Deed
related
—
Mar 29, 1995
$1,000
M Lewis INC
Gajan,frank P & Ann D
Grant Deed
related
—
Sep 26, 1994
$105,091
Frank P Gajan
Bencich,george S & Carlette M
Trustees Deed
—
—
—
George S Bencich
—
Deed Of Trust
related
$60,000 · M Lewis INC
—
—
George S Bencich
—
Deed Of Trust
related
$145,000 · M Lewis INC
—
—
Bella Investments
—
Deed Of Trust
related
$30,000 · Individual
—
—
Fennimore Family Bypass Trust
—
Deed Of Trust
related
$213,200 · Santa Cruz County Bank
—
—
George S Bencich
—
Deed Of Trust
related
$150,000 · M Lewis INC
—
—
Fennimore Trust
—
Deed Of Trust
related
$265,000 · Santa Cruz County Bank
—
—
George S Bencich
—
Deed Of Trust
related
$375,000 · Monterey Patholo
—
—
M Lewis INC
—
Deed Of Trust
related
$30,000 · Individual
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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