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Property profile & analytics
OFF-MARKET
Estimated value
$1,115,000
Grocery and convenience stores
537 Lk Ave Watsonville, CA 95076-4426
Individually Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1828367
Property profile
Verified
Property type
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Year built
1948
Construction
WOOD
Total area
2,400 SF
Lot
0.27 ac (11,761 SF)
APN
018-571-01
UPID
US09-1828367
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
-
LA REINA FRESH MARKET Grocery & Convenience Store Food Market
-
La Reyna Market Grocery & Convenience Store
-
TACOS Y MARISCOS NUEVO IMPERIO #2 Restaurant Take-out & Catering
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.48M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.12M
Owner & transaction history
Ayyad Hassan · 3 yrs held
Ayyad Hassan
since 2022
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.5M
+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%
$1,600,000
6.5%
$1,480,000
7%
$1,370,000
Alternative Use
Use
Estimation
RETAIL STORES
$1,285,000
Current use
COMMERCIAL (GENERAL)
$1,505,000
Change: +17% · Conversion: Easy
MEDICAL BUILDING
$1,245,000
Change: -3% · Conversion: Difficult
Blend value · Realmo final
$1.12M
Range $1.00M – $1.23M · ±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
$465 / 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
$10,319
Tax year 2024
Assessed value
$875,160
Assessed 2024
Previous assessed
$875,160
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$671,160
Assessed improvement
$204,000
Applied tax rate
2.0000
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
Grocery and convenience stores
Use group
GROCERY, SUPERMARKET
Status
Off-Market
Year built
1948
Construction
WOOD
Heating
NONE
Stories
1
Units
1
Total area
2,400 SF
Lot
0.27 ac (11,761 SF)
APN
018-571-01
UPID
US09-1828367
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
RETAIL STORES Current
Est. value
$1.3M
COMMERCIAL (GENERAL)
Est. value
$1.5M
MEDICAL BUILDING
Est. value
$1.2M
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
1948
Construction
WOOD
Heating
NONE
Stories
1
Units
1
Lot
0.27 ac
Current owner
From public records · entity-resolved
Ayyad Hassan
Individual
Mailing address
550 BALTUSROL DR, APTOS, CA 95003-5410
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 16, 2022
$858,000
Ayyad Hassan
Nancy L Codiga
Grant Deed
$700,000 · Williams Mcintosh Family Trust
Dec 29, 2020
—
Owner Name Unavailable
Richard M Codiga
Affidavit Of Death
related
—
Oct 17, 2017
—
Richard M Codiga
Codiga,nancy L
Quit Claim Deed
related
—
Jan 15, 2013
—
William J Codiga
Codiga Ann R Trust
Quit Claim Deed
related
—
Dec 28, 2012
—
Richard M Codiga
Codiga,william J
Quit Claim Deed
related
—
Jan 13, 1995
—
Codiga Trust
Codiga,ann R
Quit Claim Deed
related
—
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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