1214 Soquel AveSanta Cruz, CA 95062

Property Details for 1214 Soquel Ave

Year built

1954

Construction

WOOD

Lot size

1.42 AC

Property size (Sq ft)

29,192 SF

Property type

Retail properties

Property subtype

Retail space

APN

011-012-15

APU

1101215

Description

Seabright Plaza Shopping Center, located at 1214 Soquel Ave, Santa Cruz, CA 95062, presents a unique investment opportunity. This 28,392 square foot retail center boasts a 4.90% cap rate and a strong net operating income (NOI) of $511,954.99. Currently 100% occupied by 13 tenants under NNN leases, the property offers dependable cash flow with significant upside potential. Built in 1954 and situated on a 1.42-acre lot, the center features 60 parking spaces and is zoned for Community Commercial use. Its prime location in Santa Cruz's East Side Business District, at the intersection of Soquel and Seabright Avenues, provides excellent visibility and accessibility. The center is anchored by a well-established Ace Hardware and benefits from its proximity to numerous other national and local businesses, including Whole Foods, Rite Aid, and Safeway. The property's strong tenant mix caters to the daily needs, personal services, and dining preferences of the densely populated Seabright neighborhood. With many long-term tenants and below-market rents, this asset offers substantial value-add opportunities and potential for future redevelopment. The asking price is $10,800,000. The property's APN is 011-012-15. This is a rare opportunity to acquire a well-established, high-performing retail center in a desirable location.

• CAP approach

  CAP return

  Valuation

  6%

  $12,850,471

  6.5%

  $11,861,973

  7%

  $11,014,689

• Comparable approach

  Method

  Valuation

  Relative Method

  $20,517,690

  Geo Method

  $20,517,690

• Alternative Use

  Use

  Valuation

  Residential

  $10,006,018

  Hospitality

  $9,165,459

  Educational

  $7,625,554

  Medical

  $7,887,809

  Retail

  $11,861,973

Location Insight

City

Santa Cruz

County

Santa Cruz

State

California

Latitude

36.9796

Longitude

-122.01

CBSA code

42100

CBSA name

SANTA CRUZ-WATSONVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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