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Property profile & analytics
OFF-MARKET
Estimated value
$31,230,000
Hotels
611 Ocean St, Santa Cruz, CA 95060-4005
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1844286
Property profile
Verified
Property type
Hotels
Use group
HOTEL
Year built
1970
Construction
TILT-UP CONCRETE
Total area
76,552 SF
Lot
3.34 ac (145,490 SF)
APN
005-891-02
UPID
US09-1844286
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
-
Guided Ebike Tours Santa Cruz - Ride California Tour Operator (Bike/Boat/Book/etc) Store
-
Score Business Service Center Advocacy Group
-
Solaire Restaurant + Bar Restaurant
-
Hotel Paradox, Autograph Collection Hotel & Motel
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$24.89M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$31.23M
Owner & transaction history
Bhov Santa Cruz LLC · 5 yrs held
Bhov Santa Cruz LLC
since 2021
Last sale
$38.9M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$29.2M
+444.7%
Medical building
$22.7M
+323.6%
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
$42,560,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$26,965,000
6.5%
$24,890,000
7%
$23,115,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$29,230,000
Change: +445% · Conversion: Difficult
MEDICAL BUILDING
$22,730,000
Change: +324% · Conversion: Difficult
Blend value · Realmo final
$31.23M
Range $28.11M – $34.35M · ±10% · vs last sale $38.91M (Jun 30 2021)
Last sale anchor
$38.91M
Jun 30 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
$408 / 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
$454,243
Tax year 2024
Assessed value
$41,286,745
Assessed 2024
Previous assessed
$41,286,745
+0.0% YoY
Effective rate
1.10%
On assessed value
Assessed land
$31,836,240
Assessed improvement
$9,450,505
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
Hotels
Use group
HOTEL
Status
Off-Market
Year built
1970
Construction
TILT-UP CONCRETE
Heating
NONE
Rooms
17
Total area
76,552 SF
Lot
3.34 ac (145,490 SF)
APN
005-891-02
UPID
US09-1844286
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
COMMERCIAL (GENERAL)
Est. value
$29.2M
MEDICAL BUILDING
Est. value
$22.7M
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
1970
Construction
TILT-UP CONCRETE
Heating
NONE
Rooms
17
Lot
3.34 ac
Current owner
From public records · entity-resolved
Bhov Santa Cruz LLC
Entity
Mailing address
2151 MICHELSON DR STE #282, IRVINE, CA 92612-1374
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
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 29, 2021
—
Bhov Santa Cruz LLC
—
Deed
related
$27,900,000 · Wells Fargo Bank NA
Jun 30, 2021
$38,905,418
Bhov Santa Cruz LLC
Bpr Properties Ucsc LLC
Grant Deed
—
Jun 28, 2019
—
Bpr Properties Ucsc LLC
—
Grant Deed
related
$11,197,012 · Bank Of America
Oct 31, 2011
$9,090
Bpr Props Ucsc LLC
Cfri Of Seagate Ocean St LLC
Deed Of Trust
related
$14,000,000 · Bank Of America
Jun 17, 2011
—
Cfri Of Seagate Ocean Street LLC
—
Deed Of Trust
related
$13,296,199 · Bank Of America
Sep 13, 2010
—
Cfri Of Seagate Ocean Street LLC
—
Grant Deed
related
$14,000,000 · Bank Of America
Jun 30, 2005
—
Cfri Of Seagate Ocean Street LLC
Ramco Illinois INC
Grant Deed
$14,000,000 · Bank Of America
Apr 8, 1999
—
Illinois Ramco INC
—
Deed Of Trust
related
$7,000,000 · Coast Commerce Bank
Feb 20, 1997
—
Illinois Ramco INC
—
Deed Of Trust
related
$2,000,000 · Wells Fargo Bank
Oct 18, 1996
$4,100,000
Illinois Ramco INC
Santa Cruz Seaside Co
Grant Deed
$600,000 · Santa Cruz Seaside Co
Feb 11, 1993
—
Santa Cruz Seaside Co
—
Deed Of Trust
related
—
Nov 14, 1989
$7,913,000
Seasi Santa Cruz
John,hancock Mut
Grant Deed
—
—
—
Santa Cruz Seaside Co
—
Deed Of Trust
related
$15,000,000 · Wells Fargo Bank
—
—
Illinois Ramco INC
—
Deed Of Trust
related
$9,500,000 · First Union 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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