Mixed-Use Building with Retail
For Sale
$2,000,000
Pending
120 Stockton Avenue, Capitola, CA 95010
Three retail suites complement an upstairs apartment and storage/office area.
Property Size3,345 SF
Days on Market394
Property Features for 120 Stockton Avenue
General Information
Standard status
Pending
Size
3,345 SF
Property subtype
5+ Units / Five or More Units
Taxes and HOA fees
Annual Taxes
$6,616
Amenities
On Street
Building Details
Year Built
1947
Buildings
1
Tenancy
Multi
Listing Agency:
MBI Real Estate
(831) 688-2258
Listed By:
Dennis P. Bol · License #01000723
(831) 688-2258
Source:
Compass
Added: Aug 2, 2025
Changed: Aug 29
Last Checked: Aug 29 at 3:44PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MBI Real Estate
Investment Insights
Based on property information with market context.
This mixed-use building combines three retail units on the lower level with an apartment and a separate storage/office area upstairs. The property was built in 1947 and has served the same family for more than 50 years.
Located at 120 Stockton Avenue in Historic Capitola Village, the building offers a combination of commercial and residential components within an established village setting.
Located at 120 Stockton Avenue in Historic Capitola Village, the building offers a combination of commercial and residential components within an established village setting.
Key Highlights
- Three retail units within the building
- Upstairs apartment unit
- Separate upstairs storage/office area
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
$133,887
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
6.69%
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%
$2,677,740
$2.7M
Cap Rate 7%
$1,912,671
$1.9M
Cap Rate 9%
$1,487,633
$1.5M
Market Conditions
NOI Build-Up for 3,345 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
$200.7K $60.00/SF
− Vacancy
−$9.4K −$2.82/SF
EGI
$191.3K $57.18/SF
− OpEx
−$57.4K −$17.15/SF
NOI
$133.9K $40.03/SF
Area
Santa Cruz County, CA
Vacancy
4.70%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
30.00%
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%
$2,677,740
Cap Rate 7%
$1,912,671
Cap Rate 9%
$1,487,633
Alternative Uses
Best Use
Retail
$1.91M
$1.67M – $2.23M
NOI $133,887 @ 7.0% cap · market cap 6.69%
Second Best
Mixed Use
$1.71M
$1.49M – $1.99M
NOI $119,542 @ 7.0% cap · market cap 5.98%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,167
Businesses Nearby
10k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 86%
Shops & Services 14%
El Toro
Dining
6,026 visits/mo
0.1 miles
Pizza My Heart
Dining
2,535 visits/mo
0.1 miles
U.S. Bank
Shops & Services
1,450 visits/mo
0.5 miles
Demographics for 95010, CA
9,080
Population
4,741
Households
1.9
Avg Household Size
47
Median Age
46%
College-Educated
91%
High-School Grad
1.4 sq mi
ZIP Area
6,486
Density / Sq Mi
$96,701
Median Household Income
$53,704
Median Earnings
$2,370
Median Rent
$781,900
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Three retail suites complement an upstairs apartment and storage/office area.
Where is this mixed-use property located?
The property is located at 120 Stockton Avenue Capitola, CA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Three retail units within the building; Upstairs apartment unit; Separate upstairs storage/office area
