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Property profile & analytics
OFF-MARKET
Estimated value
$4,130,000
Showrooms
925 Playa Ave Sand City, CA 93955-3197
Trust Owned
28-yr Hold
~
Est. High Equity
Property ID
US09-4688384
Property profile
Verified
Property type
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Year built
1996
Construction
TILT-UP CONCRETE
Total area
12,970 SF
Lot
0.95 ac (41,382 SF)
APN
011-011-049-000
UPID
US09-4688384
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
by Request
CAP Approach
CAP
$2.76M
Comparable Approach
Comparable
$4.34M
Blend (final)
Blend
$4.13M
Owner & transaction history
Chiappe Trust · 28 yrs held
Chiappe Trust
since 1998
2 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 Sand City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Sand City 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%
$2,985,000
6.5%
$2,755,000
7%
$2,555,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,765,000
Current use
OFFICE BUILDING
$5,365,000
Change: -7% · Conversion: Easy
INDUSTRIAL (GENERAL)
$5,330,000
Change: -8% · Conversion: Moderate
AUTO REPAIR, GARAGE
$5,175,000
Change: -10% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$5,130,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$4.13M
Range $3.72M – $4.54M · ±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
$318 / 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
$63,873
Tax year 2023
Assessed value
$5,902,481
Assessed 2023
Previous assessed
$5,902,481
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$1,905,296
Assessed improvement
$3,997,185
Applied tax rate
11.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Showrooms
Use group
SHOW ROOM, WAREHOUSE
Status
Off-Market
Year built
1996
Construction
TILT-UP CONCRETE
Heating
NONE
Units
1
Total area
12,970 SF
Lot
0.95 ac (41,382 SF)
APN
011-011-049-000
UPID
US09-4688384
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
COMMERCIAL (GENERAL) Current
Est. value
$5.8M
OFFICE BUILDING
Est. value
$5.4M
INDUSTRIAL (GENERAL)
Est. value
$5.3M
AUTO REPAIR, GARAGE
Est. value
$5.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$5.1M
COMMERCIAL (GENERAL) Current
OFFICE BUILDING
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1996
Construction
TILT-UP CONCRETE
Heating
NONE
Units
1
Lot
0.95 ac
Current owner
From public records · entity-resolved
Chiappe Trust
Trust
Mailing address
PO BOX 7288, CARMEL, CA 93921-7288
Ownership since
1998
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 31, 1998
—
Chiappe Trust
D B O Development
Deed Of Trust
related
$2,700,000 · Wells Fargo Bank
—
—
Chiappe Family Trust
—
Deed Of Trust
related
$2,367,569 · Wells Fargo 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.
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