920 Soquel AveSanta Cruz, CA 95062

Property Details for 920 Soquel Ave

Year built

1949

Construction

TILT-UP CONCRETE

Lot size

0.04 AC

Property size (Sq ft)

1,554 SF

Property type

Retail properties

Property subtype

Retail space

APN

010-071-51

APU

1007151

Description

This exceptional investment opportunity presents a fully leased 1,554 square foot storefront located at 920 Soquel Avenue in Santa Cruz, California (APN: 010-071-51). The property, situated in a prime Midtown location across from Whole Foods Market, boasts excellent visibility and is currently occupied by a high-end salon under a Net Lease (NNN) agreement. The single-tenant building, constructed in 2019 and renovated the same year, sits on a 1,568 square foot lot and is zoned CC. The current lease, with a remaining term of one year, includes annual rent increases and a five-year option to extend, ensuring consistent income. The property offers a strong 5.65% cap rate based on a Net Operating Income (NOI) of $36,730 and an asking price of $650,000 ($418.28 per square foot). The lease commenced on February 1, 2020, and the property maintains 100% occupancy. This is a rare opportunity to acquire a stable, high-performing retail investment in a desirable Santa Cruz location. The property features one story and one building.

• CAP approach

  CAP return

  Valuation

  6%

  $684,079

  6.5%

  $631,458

  7%

  $586,353

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,092,234

  Geo Method

  $1,092,234

• Alternative Use

  Use

  Valuation

  Residential

  $532,658

  Hospitality

  $487,912

  Educational

  $405,937

  Medical

  $419,898

  Retail

  $631,458

Location Insight

City

Santa Cruz

County

Santa Cruz

State

California

Latitude

36.9782

Longitude

-122.013

CBSA code

42100

CBSA name

SANTA CRUZ-WATSONVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].