New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,520,000
Medical Office Space
548 Ocean St, Santa Cruz, CA 95060-6602
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-1109208
Property profile
Verified
Property type
Medical Office Space
Use group
MEDICAL BUILDING
Year built
1964
Construction
TILT-UP CONCRETE
Total area
5,072 SF
Lot
0.31 ac (13,678 SF)
APN
010-011-30
UPID
US09-1109208
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
-
VibrantCare Rehabilitation Physician
-
Melody A. Newcombe, OTR Physician
-
Sarah Weber, MSPT Physician
-
Sarah Potoczny Physician
-
Daniel Min Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.52M
CAP Approach
CAP
$2.41M
Comparable Approach
Comparable
$3.00M
Blend (final)
Blend
$2.52M
Owner & transaction history
Ocean Street Santa Cruz LLC · 2 yrs held
Ocean Street Santa Cruz LLC
since 2024
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$3.3M
+24.2%
Restaurant
$3.0M
+15.5%
Retail stores
$3.0M
+14.6%
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 Santa Cruz submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Cruz 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
$2,520,000
ML approach
$2,520,000
CAP Approach
CAP Return
Estimation
6%
$2,610,000
6.5%
$2,410,000
7%
$2,235,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$2,635,000
Current use
COMMERCIAL (GENERAL)
$3,270,000
Change: +24% · Conversion: Easy
RESTAURANT
$3,040,000
Change: +16% · Conversion: Difficult
RETAIL STORES
$3,020,000
Change: +15% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$3,010,000
Change: +14% · Conversion: Moderate
OFFICE BUILDING
$2,185,000
Change: -17% · Conversion: Easy
Blend value · Realmo final
$2.52M
Range $2.27M – $2.77M · ±10% · vs last sale $2.52M (Apr 4 2024)
Last sale anchor
$2.52M
Apr 4 2024
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
$497 / 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
$18,840
Tax year 2024
Assessed value
$1,673,278
Assessed 2024
Previous assessed
$1,673,278
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$1,003,967
Assessed improvement
$669,311
Applied tax rate
1.0000
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
Medical Office Space
Use group
MEDICAL BUILDING
Status
Off-Market
Year built
1964
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Total area
5,072 SF
Lot
0.31 ac (13,678 SF)
APN
010-011-30
UPID
US09-1109208
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
MEDICAL BUILDING Current
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$3.3M
RESTAURANT
Est. value
$3.0M
RETAIL STORES
Est. value
$3.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.0M
OFFICE BUILDING
Est. value
$2.2M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
OFFICE 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
1964
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Lot
0.31 ac
Current owner
From public records · entity-resolved
Ocean Street Santa Cruz LLC
Entity
Free & Clear · 2 yrs held
Mailing address
2744 E 11TH STE8, OAKLAND, CA 94601-1440
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 4, 2024
$2,522,000
Ocean Street Santa Cruz LLC
548 Ocean Street LLC
Grant Deed
—
Mar 8, 2018
$1,500,000
548 Ocean Street LLC
Lido J Marietti
Grant Deed
$1,200,000 · Umpqua Bank
Apr 22, 2013
—
Valerie A Benito
Benito,gary M
Quit Claim Deed
related
—
Apr 22, 2013
$1,100,000
Marietti Trust
Fleming Family Trust
Grant Deed
—
Mar 2, 2011
—
Fleming Family Trust
Fleming,murray B
Quit Claim Deed
related
—
Aug 27, 2002
—
Murray B Fleming
Fleming,murray B & Rodney E
Quit Claim Deed
related
—
Mar 9, 2000
—
Murray B Fleming
Fleming-fleming
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 548 Ocean St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
