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Property profile & analytics
OFF-MARKET
Estimated value
$3,100,000
Industrial land
850 Work St Salinas, CA 93901-4378
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US09-3036687
Property profile
Verified
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Lot
4.42 ac (192,535 SF)
APN
003-461-011-000
UPID
US09-3036687
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
-
American Cooling Inc Hardware & Home Improvement HVAC Service
-
Hitchcock Farms, Inc Food Processing Plant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.10M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.10M
Owner & transaction history
Gerald R Blatt · 2 yrs held
Gerald R Blatt
since 2024
Last sale
$3.1M
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
$3,100,000
ML approach
$3,100,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.10M
Range $2.79M – $3.41M · ±10% · vs last sale $3.10M (May 17 2024)
Last sale anchor
$3.10M
May 17 2024
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
—
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
$26,865
Tax year 2023
Assessed value
$2,346,000
Assessed 2023
Previous assessed
$2,346,000
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$2,346,000
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
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Status
Off-Market
Heating
NONE
Lot
4.42 ac (192,535 SF)
APN
003-461-011-000
UPID
US09-3036687
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
Heating
NONE
Lot
4.42 ac
Current owner
From public records · entity-resolved
Gerald R Blatt
Individual
Mailing address
1404 S 7TH ST, SAN JOSE, CA 95112-5927
Ownership since
2024
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
May 17, 2024
$3,100,000
Gerald R Blatt
Sonsray Properties LLC
Grant Deed
$3,121,000 · Sandman INC
Mar 31, 2022
$2,300,000
Sonsray Properties LLC
851 Salinas LLC
Grant Deed
—
Jan 4, 2019
$1,865,000
851 Salinas LLC
1508 Abbott Street LLC
Grant Deed
—
Jan 27, 2017
—
1508 Abbott LLC
—
Deed
related
$960,000 · Pinnacle Bank
Feb 23, 2015
$1,560,000
1508 Abbott LLC
Lamar Brothers Real Estate Holdings
Grant Deed
$780,000 · Pacific Valley Bank
Aug 14, 2008
$2,616,500
Lamar Brothers R/e Holding LLC
R Jay Deserpa Ltd
Grant Deed
$2,042,183 · Pacific Valley Bank
Aug 14, 2008
$737,500
R Jay Deserpa Ltd
Shippers Dev
Grant Deed
—
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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