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Property profile & analytics
FOR LEASE
Office buildings
9029 Soquel Ave Santa Cruz, CA 95062
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2196544
For Lease
1 / 2
$2,090,000
9029 Soquel Ave, Santa Cruz, CA 95062
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1985
Construction
WOOD
Total area
6,032 SF
Lot
0.73 ac (31,755 SF)
Zoning code
PA
APN
031-021-76
UPID
US09-2196544
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
-
BirchBark Foundation Charitable Organization Social Service Agency
-
Joshua Mitnick, DPM, FACFAS Physician
-
Joe Albright, DPM Physician
-
The Foot Doctors of Santa Cruz County Medical Clinic
-
Alvie Hurray, DPM Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.29M
CAP Approach
CAP
$2.43M
Comparable Approach
Comparable
$2.70M
Blend (final)
Blend
$2.09M
Owner & transaction history
Oak Legacy LLC · 5 yrs held
Oak Legacy LLC
since 2021
Last sale
$2.0M
6 recorded transactions
Zoning & alternative use
PA · Santa Cruz, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$3.1M
+52.3%
Retail stores
$3.0M
+47.1%
Auto repair, garage
$2.4M
+17.3%
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
$2,135,000
ML approach
$2,285,000
CAP Approach
CAP Return
Estimation
6%
$2,635,000
6.5%
$2,430,000
7%
$2,260,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,055,000
Current use
MEDICAL BUILDING
$3,130,000
Change: +52% · Conversion: Easy
RETAIL STORES
$3,025,000
Change: +47% · Conversion: Moderate
AUTO REPAIR, GARAGE
$2,415,000
Change: +17% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,100,000
Change: +2% · Conversion: Difficult
Blend value · Realmo final
$2.09M
Range $1.88M – $2.30M · ±10% · vs last sale $1.95M (Jan 8 2021)
Last sale anchor
$1.95M
Jan 8 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
$346 / 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
$28,225
Tax year 2024
Assessed value
$2,069,355
Assessed 2024
Previous assessed
$2,069,355
+0.0% YoY
Effective rate
1.36%
On assessed value
Assessed land
$1,114,268
Assessed improvement
$955,087
Applied tax rate
96.0000
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
For Lease
Year built
1985
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Units
8
Bathrooms
10
Total area
6,032 SF
Lot
0.73 ac (31,755 SF)
Zoning code
PA
APN
031-021-76
UPID
US09-2196544
Jurisdiction
SANTA CRUZ
Zoning & alternative use
PA · Santa Cruz, CA
Zoning PA · permitted uses
PA · Santa Cruz, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Santa Cruz. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.1M
MEDICAL BUILDING
Est. value
$3.1M
RETAIL STORES
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.4M
WAREHOUSE, STORAGE
Est. value
$2.1M
OFFICE BUILDING Current
MEDICAL BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
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
1985
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
8
Bathrooms
10
Lot
0.73 ac
Current owner
From public records · entity-resolved
Oak Legacy LLC
Entity
Mailing address
5841 FALON WAY, SAN JOSE, CA 95123-3517
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 14, 2021
—
Oak Legacy LLC
—
Deed
related
$804,000 · Business Finance Capital
Jan 8, 2021
$1,950,000
Oak Legacy LLC
Alvie S Hurray
Grant Deed
$975,000 · Santa Cruz County Bank
Jul 31, 2006
$1,500,000
Alvie S Hurray
Third Phase Investments LLC
Grant Deed
$600,000 · Santa Cruz County Bank
May 1, 2001
$1,100,000
Third Phase Investments LLC
Santacroce Trust
Grant Deed
$825,000 · Wells Fargo Bank
Dec 27, 1990
$400,000
Santacroce,nello
Burroughs,j C
Trustees Deed
related
$89,369 · Seller
—
—
Nello E Santacroce
—
Deed Of Trust
related
$490,000 · San Jose 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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