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    Office Building with Mechanics Garage Title is generated by Realmo AI

    5523 Scotts Valley DR, Scotts Valley, CA 95066

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    For Sale
    $2,295,000

    COMMERCIAL - SCOTTS VALLEY, CA

    Property size:
    7,665 SF
    Lot size:
    0.39 Acres
    Price / SF:
    $299/SF
    Added:
    May 20, 2026
    Days on Market:
    16
    Last Refresh:
    Jun 4 at 1:06 am

    Property Features for 5523 Scotts Valley DR

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    R
    Parking
    22
    Parking features
    Off Street, Garage
    Security features
    Security Alarm
    Standard status
    Active
    Lot size
    0.39 Acres

    Utilities

    Heating system
    Natural Gas, Central, Forced Air
    Cooling system
    Central Air
    Water source
    Public

    Building Details

    Year built
    1989
    Roof type
    Tile, Flat

    We can help!

    Listing Contact
    Strock Team

    Listing agent Strock Team License #70010201

    Listing office eXp Realty of California Inc 2603 Camino Ramon Suite 200, San Ramon, CA

    Listing date May 20, 2026

    MLS# ML82034824

    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.

    HighLights

    • 7,665 sq ft office building built in 1989 in the Scotts Valley business district, just off Highway 17
    • Currently fully leased with 22 office suites on month‑to‑month agreements for approx. $13,265/month in income
    • Includes a mechanics garage (+/- 2,000 sq ft) in addition to office suites
    • Central forced‑air heating and central air conditioning; natural gas service
    • Owned solar helps offset operating expenses
    • On‑site parking for 22 vehicles; garage plus off‑street parking; public water; tile and flat roof

    Overview

    Built in 1989 and maintained, this 7,665-square-foot office building is configured with 22 office suites. The property is currently fully leased under month-to-month agreements, generating approximately $13,265 per month in income. In addition to the office component, the building includes a +/-2,000-square-foot mechanics garage, expanding its operational flexibility for certain tenant needs. Twenty-two on-site parking spaces support daily access, and owned solar helps offset operating expenses.

    The property is positioned just off Highway 17 and located in the Scotts Valley business district, providing convenient commuting access for local and regional tenants. The site sits on a 0.385-acre lot.

    For investors or owner-operators seeking an income-producing office asset, the current month-to-month suite structure provides flexibility for future adjustments to the tenancy. For automotive-adjacent or mixed-use office tenants, the presence of a dedicated mechanics garage and on-site parking supports a broader range of business requirements than a standard office-only building. Zoning is listed as R.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Law Firm Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Scotts Valley
    County
    Santa Cruz
    State
    California
    Longitude
    -122.0090963
    Latitude
    37.0606522

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    FAQs

    What type of property is this?
    Office units - 1989-built office building with 22 suites and an attached mechanics garage, supported by on-site parking and solar.
    Where is this office units located?
    The property is located at 5523 Scotts Valley DR Scotts Valley, CA.
    What is the asking price?
    The asking price for this property is $2,295,000.
    What are key features of this property?
    This property features: 7,665 sq ft office building built in 1989 in the Scotts Valley business district, just off Highway 17; Currently fully leased with 22 office suites on month‑to‑month agreements for approx. $13,265/month in income; Includes a mechanics garage (+/- 2,000 sq ft) in addition to office suites
    (831) 688-9800
    We can help!
    Listing Contact
    Strock Team
    Real Estate License ID: 70010201
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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