New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,500,000
Flex space
5550 Soquel Ave, Santa Cruz, CA 95062-1857
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-2374075
Property profile
Verified
Property type
Flex space
Use group
LIGHT INDUSTRIAL
Year built
1975
Total area
8,364 SF
Lot
0.96 ac (41,861 SF)
Zoning code
M-1
APN
029-021-39
UPID
US09-2374075
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
-
Ewing Outdoor Supply Garden Center Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.50M
CAP Approach
CAP
$2.58M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.50M
Owner & transaction history
Ewing Irrigation Products INC · 2 yrs held
Ewing Irrigation Products INC
since 2024
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
M-1 · Santa Cruz, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.3M
+60.6%
Warehouse, storage
$2.9M
+39.6%
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
$2,500,000
ML approach
$2,500,000
CAP Approach
CAP Return
Estimation
6%
$2,790,000
6.5%
$2,575,000
7%
$2,390,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$2,085,000
Current use
AUTO REPAIR, GARAGE
$3,345,000
Change: +61% · Conversion: Easy
WAREHOUSE, STORAGE
$2,910,000
Change: +40% · Conversion: Easy
Blend value · Realmo final
$2.50M
Range $2.25M – $2.75M · ±10% · vs last sale $2.50M (Apr 8 2024)
Last sale anchor
$2.50M
Apr 8 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
$299 / 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
$8,054
Tax year 2024
Assessed value
$604,806
Assessed 2024
Previous assessed
$604,806
+0.0% YoY
Effective rate
1.33%
On assessed value
Assessed land
$316,960
Assessed improvement
$287,846
Applied tax rate
82.0000
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
Flex space
Use group
LIGHT INDUSTRIAL
Status
Off-Market
Year built
1975
Heating
NONE
Stories
1
Total area
8,364 SF
Lot
0.96 ac (41,861 SF)
Zoning code
M-1
APN
029-021-39
UPID
US09-2374075
Jurisdiction
SANTA CRUZ
Zoning & alternative use
M-1 · Santa Cruz, CA
Zoning M-1 · permitted uses
M-1 · Santa Cruz, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Santa Cruz. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$3.3M
WAREHOUSE, STORAGE
Est. value
$2.9M
INDUSTRIAL (GENERAL) Current
AUTO REPAIR, GARAGE
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
1975
Heating
NONE
Stories
1
Lot
0.96 ac
Current owner
From public records · entity-resolved
Ewing Irrigation Products INC
Entity
Free & Clear · 2 yrs held
Mailing address
3441 E HARBOUR DR, PHOENIX, AZ 85034-7229
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 8, 2024
$2,500,000
Ewing Irrigation Products INC
George L French
Grant Deed
—
Dec 30, 2019
—
Myall Santa Cruz LLC
Truman Family Trust
Quit Claim Deed
—
Oct 30, 2018
—
Truman Family Trust
Truman,debora F
Quit Claim Deed
related
—
Jul 10, 2018
—
Truman Family Trust
Truman,debora F
Quit Claim Deed
related
—
Jan 31, 2014
$262,500
Debora F Truman
Whittemore,kristen F
Grant Deed
—
Mar 14, 2013
—
Myall 2013 Trust
Myall,jan J
Quit Claim Deed
related
—
Oct 18, 2011
—
Edward Myall JR.
Myall,ruth F
Affidavit Of Death
related
—
Jan 13, 2011
—
George L French
French,melodee F
Quit Claim Deed
related
—
Dec 11, 1997
—
Myall Trust
Myall Trust
Quit Claim Deed
related
—
Dec 12, 1994
—
Myall Trust
Myall,edward O
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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