For Sale
$10,130,000

325 Westridge DrWatsonville, CA 95076

Prime Office Building, 36,635 SF, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
118
This exceptional investment opportunity presents a fully improved, single-story, Class A office building totaling 36,635 square feet. Located in Watsonville, CA's prestigious Westridge Business Park, this property boasts a prime location with easy access to Highways 1, 129, and 152. The building, constructed with an attractive tan-colored exposed aggregate finish and significant glass lines, is situated within a beautifully landscaped setting. Currently 100% leased to Driscoll's Inc. as their corporate headquarters since 1994, the lease has 5.5 years remaining (expiring 05/30/2030) with annual 3% rent bumps. The property offers a strong Net Operating Income (NOI) of $695,977, resulting in a compelling 6.90% capitalization rate. The asking price is $10,130,000, translating to $276 per square foot. This is a rare chance to acquire a highly sought-after asset in a thriving Santa Cruz County office market, presenting significant upside potential. The property features a triple net (NNN) lease structure. The building is one story and comprises one unit. Nearby businesses include DHL, Sierra Thermal Systems, Inc., California Strawberry Commission, California Giant, Gold's Gym, and the County of Santa Cruz. This is a truly remarkable investment opportunity.

Highlights

  • ± 36,635 SF single-story Class A office building.
  • Fully improved, high-quality office building in Watsonville, CA.
  • Prime location in Westridge Business Park with easy highway access.
  • 100% leased to Driscoll's Inc. (corporate HQ since 1994) with 5.5 years remaining on the lease, including 3% annual rent increases.
  • $10,130,000 asking price, $276/SF, with a 6.90% cap rate and $695,977 annual NOI.

Property Details for 325 Westridge Dr

Property type
Office properties
Square Feet
36,635 SF
Class
A
Buildings
1
Stories
1
Units
1

Location Insight

City
Watsonville
County
Santa Cruz
State
California
Latitude
36.9121272
Longitude
-121.782867
325 Westridge Dr, Watsonville, California

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325 Westridge Dr
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