Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    603 Mission St Santa Cruz, CA 95060

    Sponsored
    For Sale
    $2,700,000

    Multiple Dwellings / Structures - SANTA CRUZ, CA

    Property size:
    5,923 SF
    Lot size:
    0.42 Acres
    Days on Market:
    28
    Last Refresh:
    Feb 2 at 5:06 pm

    Property Features for 603 Mission St

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Security features
    Security Alarm
    Zoning
    Commercial
    Parking
    17
    Interior features
    Other, Security Alarm
    Size
    5,923 SF
    Lot size
    0.42 Acres

    Utilities

    Heating system
    Other (Heating)
    Cooling system
    Other (Cooling)

    Building Details

    Year built
    1889
    Flooring type
    Carpet, Hardwood
    Roof type
    Composition, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Marvin Christie

    Anderson Christie, Inc. (831) 515-8421

    Listing agent Marvin Christie (831) 515-8421 License #01894395

    Listing date Jan 6, 2026

    MLS# ML81988389 Listing URL

    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.

    Learn more

    Overview

    Santa Cruz Mixed-Use Opportunity

    Located on a highly visible corner in Santa Cruz, this property offers a rare opportunity with new zoning allowing for multi-residential use. The spacious Victorian house, currently used as an office, measures 4,623 square feet with an additional 200 square feet of storage space. It features 6 private offices, several meeting rooms, and breakrooms. The city permits conversion into multi-family use. A separate structure includes a legal residential unit on the second floor above private office space, suitable for live/work arrangements or rental income. The property has an established history with therapy and professional office users, with possible uses including live/work, group home, transitional housing, or a recovery facility. The property consists of three parcels totaling over 18,000 square feet, with the potential to merge lots for future development. Buyers should verify residential and developmental possibilities with the City of Santa Cruz. The location is on one of Santa Cruz's most well-traveled roads, within walking distance of downtown restaurants and shops.
    Location Intelligence

    Current Use by Public Records

    Dr. Elizabeth Esalen Physician

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Santa Cruz
    County
    Santa Cruz
    State
    California
    Longitude
    -122.033737
    Latitude
    36.974492

    Nearby Similar for Sale

    • $2,390,000
      5,051 SF

      Unique Estate with Multiple Residences

      Versatile 2.5-acre estate with multiple structures and residences.
      7919 Empire Grade, Santa Cruz, CA 95060
      View Details
    • $7,895,000
      19.65 Acres

      Loma Alta Ranch Opportunity

      Rare 19.65-acre ranch with barn, caretaker's home, and pastures.
      3485 Stable Ln, Santa Cruz, CA 95065
      View Details
    • $2,890,000
      2,632 SF

      Pleasure Point Fourplex with Ocean Views

      Classic fourplex near the beach with strong income potential.
      360 36Th Ave, Santa Cruz, CA 95062
      View Details
    • $2,495,000
      4,612 SF

      Santa Cruz Fourplex Near Beach

      Four-unit property in desirable coastal location, walk/bike to beach.
      2030 Kinsley St, Santa Cruz, CA 95062
      View Details
    • $1,975,000
      1,630 SF

      Rare Multifamily Development Opportunity

      Three fixer-upper homes on a high-density multifamily development site.
      1430 Merrill St, Santa Cruz, CA 95062
      View Details
    • New
      $1,259,000
      1,312 SF

      Historic Victorian Gem in Downtown

      Mixed-use property in the heart of Santa Cruz, CA.
      120 Maple St, Santa Cruz, CA 95060
      View Details
    • New
      $1,998,000
      2,244 SF

      Santa Cruz Multifamily Investment Opportunity

      Five-unit apartment building in Santa Cruz, fully occupied.
      313 Raymond St, Santa Cruz, CA 95060
      View Details
    • $975,000
      2,060 SF

      Downtown Santa Cruz Office Building

      Freestanding commercial office building in the heart of Santa Cruz.
      129 Water St, Santa Cruz, CA 95060
      View Details
    • New
      $2,295,000
      4,368 SF

      Santa Cruz Multifamily Investment Opportunity

      Five oversized units near the beach and downtown Santa Cruz.
      238 San Lorenzo Blvd, Santa Cruz, CA 95060
      View Details
    • New
      $1,995,000
      2,250 SF

      Santa Cruz Triplex Investment Opportunity

      Well-maintained triplex near downtown Santa Cruz with upside potential.
      136 Market St, Santa Cruz, CA 95062
      View Details
    • $8,500,000
      4,754 SF

      Seabright Oceanfront Fourplex Opportunity

      Oceanfront four-unit property in Santa Cruz's desirable Seabright neighborhood.
      1703 East Cliff Dr, Santa Cruz, CA 95062
      View Details
    • New
      $1,699,000
      2,792 SF

      Westside Santa Cruz Commercial Space

      Versatile warehouse and business functionality near beach and trails.
      200 Panetta Ave, Santa Cruz, CA 95060
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Victorian office building with residential unit, development potential.
    Where is this mixed-use property located?
    The property is located at 603 Mission St Santa Cruz, CA.
    What is the asking price?
    The asking price for this property is $2,700,000.
    What are key features of this property?
    This property features: - New zoning allows multi-residential conversion of the spacious Victorian house (4,623 Sq. Ft.); - Separate structure with legal residential unit above private office space offers live/work opportunity or rental income.; - Located on a highly visible corner lot on a well-traveled road, yet walking distance to downtown.
    (831) 406-1031
    Request Owner's contact information
    603 Mission St Santa Cruz, CA 95060
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    603 Mission St
    Santa Cruz, CA 95060
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    603 Mission St Santa Cruz, CA 95060
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Marvin Christie
    Real Estate License ID: 01894395
    (831) 406-1031
    Learn more
    Google sign-in failed. Please try again or use another login method.