1105 Water StSanta Cruz, CA 95062

Property Details for 1105 Water St

Year built

1965

Construction

TILT-UP CONCRETE

Lot size

0.27 AC

Property size (Sq ft)

3,278 SF

Property type

Office buildings

APN

009-243-26

APU

924326

Description

This exceptional investment opportunity presents a fully leased commercial property at 1105 Water St, Santa Cruz, CA 95062. The property consists of two buildings totaling 5,260 square feet on an 11,674 square foot lot, zoned C-4 (Commercial). Built in 1965 with an addition in 1985, the property boasts 12 on-site parking spaces, plus street parking, and a security system. The property enjoys a prime Midtown location near Seabright Avenue and Downtown Santa Cruz, ensuring high visibility and traffic. Currently, four tenants occupy the space: Community Bridges (2,000 sq ft), Habitat for Humanity (1,840 sq ft), State Farm Insurance (800 sq ft), and Surf City Windows & Gutters (650 sq ft). All tenants recently renewed their leases, indicating a stable tenant base with minimal turnover. A roof reserve fund is in place. The property offers a 5.03% cap rate and a net operating income (NOI) of $112,093.20, with an asking price of $2,250,000. The APN is 009-243-26-000. This presents a compelling investment opportunity in Santa Cruz's thriving commercial market.

• CAP approach

  CAP return

  Valuation

  6%

  $981,628

  6.5%

  $906,118

  7%

  $841,395

• Comparable approach

  Method

  Valuation

  Relative Method

  $914,267

  Geo Method

  $914,267

• Alternative Use

  Use

  Valuation

  Residential

  $1,123,586

  Hospitality

  $1,029,199

  Educational

  $856,281

  Medical

  $885,730

  Retail

  $1,331,993

Location Insight

City

Santa Cruz

County

Santa Cruz

State

California

Latitude

36.9816

Longitude

-122.01

CBSA code

42100

CBSA name

SANTA CRUZ-WATSONVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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