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Property profile & analytics
OFF-MARKET
Estimated value
$3,505,000
Hospitals
966 Carmelo St, Monterey, CA 93940-4504
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US09-2728886
Property profile
Verified
Property type
Hospitals
Use group
HOSPITAL - PRIVATE
Year built
1992
Construction
WOOD
Total area
11,469 SF
Lot
0.59 ac (25,509 SF)
APN
001-601-010-000
UPID
US09-2728886
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
-
Carmelo Park Geriatric Care Provider Nursing Home
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.49M
CAP Approach
CAP
$2.99M
Comparable Approach
Comparable
$3.74M
Blend (final)
Blend
$3.51M
Owner & transaction history
Songbird Property Holdings Monterey · 5 yrs held
Songbird Property Holdings Monterey
since 2021
Last sale
$3.8M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.8M
+62.1%
Industrial (general)
$5.6M
+58.9%
Auto repair, garage
$4.6M
+28.8%
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 Monterey submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monterey 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
$3,235,000
ML approach
$3,490,000
CAP Approach
CAP Return
Estimation
6%
$3,235,000
6.5%
$2,985,000
7%
$2,770,000
Alternative Use
Use
Estimation
MEDICAL BUILDING
$3,550,000
Current use
COMMERCIAL (GENERAL)
$5,755,000
Change: +62% · Conversion: Easy
INDUSTRIAL (GENERAL)
$5,645,000
Change: +59% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,575,000
Change: +29% · Conversion: Difficult
RETAIL STORES
$3,345,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$3.51M
Range $3.15M – $3.86M · ±10% · vs last sale $3.79M (May 18 2021)
Last sale anchor
$3.79M
May 18 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
$306 / 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
$47,894
Tax year 2023
Assessed value
$4,316,919
Assessed 2023
Previous assessed
$4,316,919
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$1,137,827
Assessed improvement
$3,179,092
Applied tax rate
3.0000
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
1992
Construction
WOOD
Heating
NONE
Stories
3
Units
38
Rooms
54
Bathrooms
27
Total area
11,469 SF
Lot
0.59 ac (25,509 SF)
APN
001-601-010-000
UPID
US09-2728886
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
$3.6M
COMMERCIAL (GENERAL)
Est. value
$5.8M
INDUSTRIAL (GENERAL)
Est. value
$5.6M
AUTO REPAIR, GARAGE
Est. value
$4.6M
RETAIL STORES
Est. value
$3.3M
MEDICAL BUILDING Current
COMMERCIAL (GENERAL)
INDUSTRIAL (GENERAL)
AUTO REPAIR, GARAGE
RETAIL STORES
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
1992
Construction
WOOD
Heating
NONE
Stories
3
Units
38
Rooms
54
Bathrooms
27
Lot
0.59 ac
Current owner
From public records · entity-resolved
Songbird Property Holdings Monterey
Entity
Mailing address
966 CARMELO ST, MONTEREY, CA 93940-4504
Mailing matches property
Yes
Owner-occupied
Yes
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 18, 2021
—
Songbird Property Holdings Monterey
Songbird Property Holdings LLC
Intrafamily Transfer
related
$4,600,000 · Pacific Valley Bank
Mar 23, 2016
$3,794,000
Songbird Property Holdings LLC
Alan Samuels
Grant Deed
$3,500,000 · Wells Fargo Bank NA
Mar 23, 2016
—
Samuels Living Trust
Carmelo Land & Dev Co
Grant Deed
related
—
Dec 4, 2013
—
Samuels Living Trust
Carmelo Land & Dev Co
Grant Deed
—
Jun 7, 2007
—
Carmelo Land & Dev Co
Carmelo Senior Mgmt Svcs INC
Quit Claim Deed
—
Aug 1, 1997
—
Carmelo Senior Mgmt Svc
Parker,steve & Jolanta
Grant Deed
related
—
Dec 12, 1996
—
Widrow Trust
Widrow,sidney H
Quit Claim Deed
related
—
Oct 30, 1992
$500,000
David Thorngate
Mayetani,beatric
Grant Deed
$400,000 · Seller
Aug 29, 1990
—
Fascilla Jack
—
Grant Deed
related
$1,300,000 · Pacific Western National Bank
—
—
Jack Fascilla
—
Deed Of Trust
related
$300,000 · Sierra Continent
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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