229 Encinal StSanta Cruz, CA 95060

Property Details for 229 Encinal St

Year built

2008

Property size (Sq ft)

8,300 SF

Property type

Industrial properties

Property subtype

Other industrial properties

Description

This 8,300 square foot industrial building in Santa Cruz, CA, presents a rare owner-user or investment opportunity. Located in the desirable Harvey West area near Costco, this 2008-built property (with 2010 renovations) sits on a 10,585 square foot lot and boasts 28-foot ceilings. The building features five 22' x 48' bays on the ground floor and an additional approximately 3,000 square feet of unpermitted second-floor space. Currently occupied by four tenants, generating a Net Operating Income (NOI) of $117,989.53 and a pro-forma cap rate of 5.90%, this property offers significant potential. The building's design allows for drive-through access between Encinal and Fern Streets, providing multiple access points. Its location offers easy access to Highways 1, 9, and 17. The property is zoned IG - General Industrial District and has an APN of 001-045-28. The asking price is $2,000,000. Santa Cruz's strong demographics, with a population of approximately 61,800 and an average household income of $148,404, further enhance the investment potential. The current owners occupy approximately 3,000 square feet of ground floor space, which could be used by a new owner or leased. This versatile property is well-suited for a variety of uses. While the second floor was approved by the fire marshal and is annually inspected, it was not permitted through the city of Santa Cruz during its 2010 installation.

Location Insight

City

Santa Cruz

County

Santa Cruz

State

California

Latitude

36.9864

Longitude

-122.034

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