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Property profile & analytics
OFF-MARKET
Estimated value
$795,000
Hotels
585 Wave St, Monterey, CA 93940
Individually Owned
8-yr Hold
Free & Clear
Property ID
US09-3108410
Property profile
Verified
Property type
Hotels
Use group
HOTEL/MOTEL
Year built
1984
Construction
WOOD
Total area
10,781 SF
Lot
0.25 ac (10,734 SF)
APN
001-025-001-000
UPID
US09-3108410
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
$595k
CAP Approach
CAP
$1.07M
Comparable Approach
Comparable
$732k
Blend (final)
Blend
$795k
Owner & transaction history
Inns Of Cannery Row-spindrift · 8 yrs held
Inns Of Cannery Row-spindrift
since 2017
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Monterey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monterey 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
$595,000
CAP Approach
CAP Return
Estimation
6%
$1,150,000
6.5%
$1,065,000
7%
$990,000
Blend value · Realmo final
$795k
Range $716k – $875k · ±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
$74 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$42,598
Tax year 2023
Assessed value
$3,863,939
Assessed 2023
Previous assessed
$3,863,939
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$680,821
Assessed improvement
$3,183,118
Applied tax rate
3.0000
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
Hotels
Use group
HOTEL/MOTEL
Status
Off-Market
Year built
1984
Construction
WOOD
Heating
NONE
Stories
3
Units
33
Rooms
62
Bathrooms
31
Total area
10,781 SF
Lot
0.25 ac (10,734 SF)
APN
001-025-001-000
UPID
US09-3108410
Jurisdiction
MONTEREY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1984
Construction
WOOD
Heating
NONE
Stories
3
Units
33
Rooms
62
Bathrooms
31
Lot
0.25 ac
Current owner
From public records · entity-resolved
Inns Of Cannery Row-spindrift
Individual
Free & Clear · 8 yrs held
Mailing address
555 ABREGO ST, MONTEREY, CA 93940-3229
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 28, 2017
—
Inns Of Cannery Row-spindrift
1992 Doo & Sun K Family Trl
Grant Deed
—
May 4, 2017
—
Inns Of Cannery Row Spindrift
—
Deed
related
$1,500,000 · 1st Capital Bank
Nov 14, 2016
$1,725,000
Inns Of Cannery Row-spindrift
Sk Lee LLC
Grant Deed
—
Dec 28, 2012
—
Kim Doo & S 1992 Family Trust
Kim,doo J & Sun P
Quit Claim Deed
related
—
Aug 22, 1989
—
Doo J Kim
Heller Financial
Quit Claim Deed
related
$1,400,000 · Heller Financial
—
—
Doo J Kim
—
Deed Of Trust
related
$1,050,950 · Rabobank
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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