Residential Land with Industrial
For Sale
$750,000
360 Wildberry DR, Boulder Creek, CA 95006
Residential Lots & Land, BOULDER CREEK, CA
Property Size3,600 SF
Lot Size19.99 Acres
Price / SF$208.33
Days on Market45
Property Features for 360 Wildberry DR
General Information
Property type
Land
Property subtype
Other
Zoning
SU
Lot features
Farm Animals ( Permitted), Grade - Varies, Views
View
Forest, Valley
Subdivision
Boulder Creek
Standard status
Active
Lot size
19.99 Acres
Utilities
Water source
Well
Listing Agency:
Compass
(408) 358-1111
Listed By:
Keith Kanady · License #00953975
(408) 316-1666
Added: Jul 11
Changed: Aug 21
Last Checked: Aug 24 at 1:06AM
MLS# ML81989156
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This nearly 20-acre homesite is positioned at the end of a private road in Boulder Creek. The original home was lost in the CZU fire, but plans are included for a contemporary 3,550 sf Lindl Cedar home. Utilities are already in place, including septic, water, and electricity.
A 3,600 sf all-metal industrial-quality barn/workshop supports a wide range of uses, with a 5-inch concrete floor, roll-up doors, and available 220 power. Infrastructure for a radiant heat system is also in place, and the property includes a producing well.
Zoned SU, the property offers a secluded setting with capacity for both living and work uses, including the option to incorporate the existing shop and facilities into a live/work setup. The property is approximately 45 minutes from the heart of Silicon Valley and about 30 minutes to Santa Cruz beaches.
A 3,600 sf all-metal industrial-quality barn/workshop supports a wide range of uses, with a 5-inch concrete floor, roll-up doors, and available 220 power. Infrastructure for a radiant heat system is also in place, and the property includes a producing well.
Zoned SU, the property offers a secluded setting with capacity for both living and work uses, including the option to incorporate the existing shop and facilities into a live/work setup. The property is approximately 45 minutes from the heart of Silicon Valley and about 30 minutes to Santa Cruz beaches.
Key Highlights
- 20 private acres with stunning views and a serene, secluded setting.
- Existing utilities (septic, water, and electricity) and producing well in place, saving significant time and cost.
- Includes plans for a contemporary 3550 sq ft Lindl Cedar home.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,140
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.35%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$802,800
$802.8K
Cap Rate 7%
$573,429
$573.4K
Cap Rate 9%
$446,000
$446.0K
Market Conditions
NOI Build-Up for 3,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$64.8K $18.00/SF
− Vacancy
−$3.0K −$0.85/SF
EGI
$61.8K $17.15/SF
− OpEx
−$21.6K −$6.00/SF
NOI
$40.1K $11.15/SF
Area
Santa Cruz County, CA
Vacancy
4.70%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$802,800
Cap Rate 7%
$573,429
Cap Rate 9%
$446,000
Alternative Uses
Best Use
Industrial
$1.03M
$900.6K – $1.20M
NOI $72,047 @ 7.0% cap · market cap 9.61%
Second Best
Flex RnD
$573.4K
$501.8K – $669.0K
NOI $40,140 @ 7.0% cap · market cap 5.35%
Theoretical Best
Retail
$2.06M
$1.80M – $2.40M
NOI $144,094 @ 7.0% cap · market cap 19.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
21
Businesses Nearby
Explore this area
Business Placement
Demographics for 95006, CA
9,454
Population
3,855
Households
2.5
Avg Household Size
47
Median Age
39%
College-Educated
94%
High-School Grad
55.2 sq mi
ZIP Area
171
Density / Sq Mi
$128,483
Median Household Income
$58,859
Median Earnings
$1,985
Median Rent
$779,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Residential land & home lot - Nearly 20-acre homesite at the end of a private road with utility services in place and an all-metal barn/workshop.
Where is this residential land & home lot located?
The property is located at 360 Wildberry DR Boulder Creek, CA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 20 private acres with **stunning views** and a serene, secluded setting.; Existing utilities (septic, water, and electricity) and **producing well** in place, saving significant time and cost.; Includes plans for a contemporary 3550 sq ft Lindl Cedar home.
