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Property profile & analytics
OFF-MARKET
Estimated value
$1,355,000
Drive through restaurants
635 Cass St Monterey, CA 93940-3113
Entity Owned
4-yr Hold
Free & Clear
Property ID
US09-2685672
Property profile
Verified
Property type
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Year built
1960
Construction
TILT-UP CONCRETE
Total area
3,220 SF
Lot
0.11 ac (4,946 SF)
APN
001-681-035-000
UPID
US09-2685672
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
$1.35M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.08M
Blend (final)
Blend
$1.36M
Owner & transaction history
Eureka Group LLC · 4 yrs held
Eureka Group LLC
since 2022
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.8M
+0.5%
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
$1,335,000
ML approach
$1,350,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,745,000
Current use
OFFICE BUILDING
$1,755,000
Change: +0% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,615,000
Change: -7% · Conversion: Easy
Blend value · Realmo final
$1.36M
Range $1.22M – $1.49M · ±10% · vs last sale $1.50M (Mar 15 2022)
Last sale anchor
$1.50M
Mar 15 2022
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
$421 / 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
$8,178
Tax year 2023
Assessed value
$663,000
Assessed 2023
Previous assessed
$663,000
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$357,000
Assessed improvement
$306,000
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
Drive through restaurants
Use group
DRIVE-THRU RESTAURANT, FAST FOOD
Status
Off-Market
Year built
1960
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Units
1
Rooms
7
Bathrooms
2
Total area
3,220 SF
Lot
0.11 ac (4,946 SF)
APN
001-681-035-000
UPID
US09-2685672
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
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT Current
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.8M
COMMERCIAL (GENERAL)
Est. value
$1.6M
RESTAURANT Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1960
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
1
Units
1
Rooms
7
Bathrooms
2
Lot
0.11 ac
Current owner
From public records · entity-resolved
Eureka Group LLC
Entity
Free & Clear · 4 yrs held
Mailing address
PO BOX 2510, MONTEREY, CA 93942-2510
Ownership since
2022
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
Dec 11, 2025
—
Eureka Group LLC
—
Deed
related
$2,500,000 · Monterey County Bank
Sep 28, 2022
—
Eureka Group LLC
—
Deed
related
$2,499,994 · 1st Capital Bank
Mar 15, 2022
—
Eureka Group LLC
Eureka Group LP
Intrafamily Transfer
related
—
Feb 18, 2020
$1,500,000
Eureka Group LP
Rossman Family Trust
Grant Deed
—
Feb 18, 2020
—
Rossman Family Trust
Giovanna C Rossman
Quit Claim Deed
related
—
Sep 13, 2016
—
Rossman Family Trust
Rossman,giovanna C
Quit Claim Deed
related
—
Jun 16, 2016
—
Giovanna M Rossman
Rossman,giovanna M
Quit Claim Deed
related
$650,000 · Keypoint Cu
May 22, 2008
—
Giovanna C Rossman
Cusenza Family Trust
Grant Deed
related
—
Jun 9, 2005
—
Rossman Giovanna C Trust
Rossman Giovanna C Trust
Quit Claim Deed
related
—
Mar 11, 2005
—
Rossman Giovanna C Trust
Cusenza Frank P Trust
Grant Deed
related
—
Oct 7, 2004
—
Cusenza Frank P Trust
Cusenza Frank P Trust
Quit Claim Deed
related
—
Jul 12, 2004
—
Frank P Cusenza
Cusenza,frank P & Violet M
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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