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Property profile & analytics
OFF-MARKET
Estimated value
$2,855,000
Office buildings
73 Hangar Way Watsonville, CA 95076-2403
Entity Owned
13-yr Hold
~
Est. High Equity
Property ID
US10-2952935
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1980
Construction
WOOD
Total area
13,562 SF
Lot
0.73 ac (31,581 SF)
APN
015-111-25
UPID
US10-2952935
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
-
Disc Golf Association | DGA Industrial Manufacturer Production Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.85M
Blend (final)
Blend
$2.86M
Owner & transaction history
73 Hangar Way LLC · 13 yrs held
73 Hangar Way LLC
since 2012
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 Watsonville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Watsonville 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$4,715,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$2.86M
Range $2.57M – $3.14M · ±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
$211 / 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
$22,860
Tax year 2024
Assessed value
$1,931,654
Assessed 2024
Previous assessed
$1,931,654
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$664,006
Assessed improvement
$1,267,648
Applied tax rate
2.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1980
Construction
WOOD
Heating
NONE
Stories
1
Units
1
Total area
13,562 SF
Lot
0.73 ac (31,581 SF)
APN
015-111-25
UPID
US10-2952935
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
WAREHOUSE, STORAGE
Est. value
$4.7M
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
1980
Construction
WOOD
Heating
NONE
Stories
1
Units
1
Lot
0.73 ac
Current owner
From public records · entity-resolved
73 Hangar Way LLC
Entity
Mailing address
73 HANGAR WAY, WATSONVILLE, CA 95076-2403
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 12, 2012
$1,600,000
73 Hangar Way LLC
Anding Holdings LLC
Grant Deed
$1,479,100 · Wells Fargo Bank NA
Aug 31, 2007
—
Anding Holdings LLC
Opheim,joar A
Grant Deed
—
Jan 24, 2007
—
Joar A Opheim
Opheim,michele K
Quit Claim Deed
related
—
May 14, 2004
$865,000
Joar A Opheim
Walker Street Association LLC
Grant Deed
$382,000 · Wells Fargo Bank
Sep 10, 2002
$680,000
Walker Street Association LLC
Smith,steve E & Kathleen M
Grant Deed
$476,000 · Coast Commercial Bank
Aug 30, 2000
$625,000
Steve E Smith
Geggatt Trust
Grant Deed
$410,000 · Coast Commercial Bank
—
—
William A Geggatt
—
Deed Of Trust
related
$200,000 · San Jose National Bank
—
—
Joar A Opheim
—
Deed Of Trust
related
$317,000 · California Statewide Certified
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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