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Property profile & analytics
OFF-MARKET
Estimated value
$4,500,000
Hospitals
637 Romie Ln Salinas, CA 93901-4205
Entity Owned
20-yr Hold
~
Est. High Equity
Property ID
US09-0022368
Property profile
Verified
Property type
Hospitals
Use group
HOSPITAL - PRIVATE
Year built
1962
Construction
WOOD
Total area
23,600 SF
Lot
1.44 ac (62,767 SF)
APN
002-731-010-000
UPID
US09-0022368
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
-
Susan Cinkay, PTA Physician
-
Salinas Valley Post Acute Nursing Home
-
Shomir Banerjee MD Pediatrician Physician
-
Windsor Gardens Rehabilitation Center of Salinas Nursing Home
-
Jordan Jiang Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.12M
Comparable Approach
Comparable
$2.81M
Blend (final)
Blend
$4.50M
Owner & transaction history
637 E Romie Lane LLC · 20 yrs held
637 E Romie Lane LLC
since 2005
7 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 Salinas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Salinas 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
by Request
CAP Approach
CAP Return
Estimation
6%
$6,625,000
6.5%
$6,115,000
7%
$5,680,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$7,310,000
Current use
OFFICE BUILDING
$6,985,000
Change: -4% · Conversion: Easy
RETAIL STORES
$6,880,000
Change: -6% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,865,000
Change: -6% · Conversion: Easy
Blend value · Realmo final
$4.50M
Range $4.05M – $4.95M · ±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
$191 / 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
$85,959
Tax year 2023
Assessed value
$7,497,826
Assessed 2023
Previous assessed
$7,497,826
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$1,952,953
Assessed improvement
$5,544,873
Applied tax rate
5.0000
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
Hospitals
Use group
HOSPITAL - PRIVATE
Status
Off-Market
Year built
1962
Construction
WOOD
Heating
NONE
Stories
1
Units
1
Rooms
51
Bathrooms
21
Total area
23,600 SF
Lot
1.44 ac (62,767 SF)
APN
002-731-010-000
UPID
US09-0022368
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
MEDICAL BUILDING Current
Est. value
$7.3M
OFFICE BUILDING
Est. value
$7.0M
RETAIL STORES
Est. value
$6.9M
COMMERCIAL (GENERAL)
Est. value
$6.9M
MEDICAL BUILDING Current
OFFICE BUILDING
RETAIL STORES
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
1962
Construction
WOOD
Heating
NONE
Stories
1
Units
1
Rooms
51
Bathrooms
21
Lot
1.44 ac
Current owner
From public records · entity-resolved
637 E Romie Lane LLC
Entity
Mailing address
9200 W SUNSET BLVD STE #1100, WEST HOLLYWOOD, CA 90069-3506
Ownership since
2005
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 1, 2005
—
637 E Romie Lane LLC
Salinas Care Center INC
Grant Deed
$36,375 · Farmers Insurance Group FCU
Apr 2, 2004
—
Meritcare INC
—
Deed Of Trust
related
$28,500,000 · Farmers Insurance Group FCU
Dec 20, 1996
—
Salinas Care Center INC
Merit-cal INC
Grant Deed
$3,050,000 · Nationsbanc Mortgage Capital
—
—
637 East Romie Lane LLC
—
Deed Of Trust
related
$10,650,000 · Greystone Servicing Corp
—
—
637 East Romie Lane LLC
—
Deed Of Trust
related
$52,000,000 · Greystone Com'l Mtg Ln Fndg
—
—
637 East Romie Lane LLC
—
Deed Of Trust
related
$9,197,000 · Greystone Servicing Corp
—
—
Merit-cal INC
—
Deed Of Trust
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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