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Property profile & analytics
FOR LEASE
Office buildings
555 Soquel Ave, Santa Cruz, CA 95062
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1602249
For Lease
1 / 17
$24 SF/Yr
555 Soquel Ave, Santa Cruz, CA 95062
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1968
Construction
TILT-UP CONCRETE
Total area
21,355 SF
Lot
2.59 ac (112,646 SF)
APN
010-012-45
UPID
US09-1602249
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.37M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.41M
Blend (final)
Blend
$5.03M
Owner & transaction history
Pm Networks LLC · 4 yrs held
Pm Networks LLC
since 2021
Last sale
$4.7M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$7.4M
+2.0%
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
$5,085,000
ML approach
$5,365,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$7,280,000
Current use
WAREHOUSE, STORAGE
$7,430,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$5.03M
Range $4.53M – $5.53M · ±10% · vs last sale $4.65M (Aug 9 2021)
Last sale anchor
$4.65M
Aug 9 2021
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
$236 / 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
$44,537
Tax year 2024
Assessed value
$3,953,520
Assessed 2024
Previous assessed
$3,953,520
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$2,080,800
Assessed improvement
$1,872,720
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1968
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
3
Total area
21,355 SF
Lot
2.59 ac (112,646 SF)
APN
010-012-45
UPID
US09-1602249
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
OFFICE BUILDING Current
Est. value
$7.3M
WAREHOUSE, STORAGE
Est. value
$7.4M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
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
1968
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
3
Lot
2.59 ac
Current owner
From public records · entity-resolved
Pm Networks LLC
Entity
Mailing address
135 LIBERTY ST, SANTA CRUZ, CA 95060-6512
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 9, 2021
$4,650,000
Pm Networks LLC
Edward L Chirco
Grant Deed
$3,750,000 · Metro City Bank
Jan 17, 2020
—
Chirco Living Trust
—
Deed
related
$3,275,000 · Other Institutional Lenders
Feb 12, 2018
—
Chirco Living Trust
—
Deed
related
$3,100,000 · Rubicon Mortgage Fund LLC Rubicon Mortgage Fund LLC
Dec 28, 2004
—
Chirco Trust
Chirco,edward L & Judy L
Quit Claim Deed
related
—
Jun 11, 1999
—
Edward L Chirco
Chirco,edward L & Judy L
Quit Claim Deed
related
—
Dec 26, 1995
—
Edward L Chirco
—
Deed Of Trust
related
$1,600,000 · Saratoga National Bank
Jul 19, 1991
$2,700,000
Edward B Chirco
Riordan,c Larry
Grant Deed
$1,850,000 · Pacific Western National Bank
—
—
Chirco Living Trust
—
Loan Modification
related
$3,275,000 · Other Institutional Lenders
—
—
Chirco Living Trust
—
Deed Of Trust
related
$3,055,000 · Bank Of The West
—
—
Chirco Living Trust
—
Deed Of Trust
related
$3,100,000 · Rubicon Mortgage Fund LLC Rubicon Mortgage Fund LLC
—
—
Edward L Chirco
—
Deed Of Trust
related
$2,275,000 · Coast Commercial Bank
—
—
C Larry Riordan
—
Deed Of Trust
related
$640,000 · Pacific Western National 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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