Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3811 Portola Dr Santa Cruz, CA 95062

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,800,000

    Commercial space and vacant lot for mixed-use development.

    Lot size:
    0.50 Acres

    Property Features for 3811 Portola Dr

    General Information

    Property type
    Commercial
    Standard status
    Active
    Lot size
    0.50 Acres

    Building Details

    Year built
    1956

    We can help!

    Listing Contact
    Sean Sullivan
    Sean Sullivan
    Source: Elliman

    Listing Agency: Authentic Real Estate Office Listing Agent: Sean Sullivan

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Capitola Opportunity Zone Development Site

    This property presents an opportunity in Capitola's Opportunity Zone. It features a small commercial space with several treatment rooms, currently used for Chiropractic services, situated on Capitola's main thoroughfare. The opportunity involves developing the existing medical space and the included vacant lot, with the potential to develop 40+ units in a mixed-use project. Some design work has already been completed.
    Location Intelligence

    Current Use by Public Records

    Steven D. Stewart, ... Alternative Medicine Practice Walton Chiropractic Center Physician Back In Shape Chiropractic Alternative Medicine Practice Stewart Chiropractic Alternative Medicine Practice Steven Gabay, DC Alternative Medicine Practice

    Suggested Use

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

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

    Similar Places Nearby

    Aptos-Capitola Veterinary Hospital

    Location Insight

    • Map
    • Local Demand
    City
    Santa Cruz
    County
    Santa Cruz
    State
    California
    Longitude
    -121.9667282
    Latitude
    36.9637264

    Nearby Similar for Sale

    • $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
    • $1,998,000
      2,244 SF

      Santa Cruz Multifamily Investment Opportunity

      Five-unit apartment building in upcoming Santa Cruz location.
      313 Raymond St, Santa Cruz, CA 95060
      View Details
    • New
      $1,950,000
      3,526 SF

      Spacious Santa Cruz Duplex

      Contemporary 5-bedroom, 4-bathroom duplex in Santa Cruz.
      1459 High St, Santa Cruz, CA 95060
      View Details
    • $2,250,000
      4,991 SF

      Santa Cruz Fourplex with Expansion Potential

      Well-maintained fourplex with potential to add two units.
      1803 Halterman Ave, Santa Cruz, CA 95062
      View Details
    • $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
    • $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
    • $1,945,000
      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
    • $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
    • $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
    • $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
    • $1,100,000

      Santa Cruz Commercial Building For Sale

      Commercial building in Santa Cruz, three blocks from the ocean.
      300 7Th Ave, Santa Cruz, CA 95062
      View Details
    • $475,000

      Garage Unlimited Unit For Sale

      Rare opportunity: garage/storage unit in Santa Cruz.
      1225 Shaffer Rd, Santa Cruz, CA 95060
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Commercial space and vacant lot for mixed-use development.
    Where is this medical office space located?
    The property is located at 3811 Portola Dr Santa Cruz, CA.
    What is the asking price?
    The asking price for this property is $3,800,000.
    What are key features of this property?
    This property features: - Development Opportunity: Potential for a 40+ unit mixed-use project.; - Included Vacant Lot: Expands development possibilities.; - Prime Location: Situated on Capitola's main thoroughfare.
    (831) 426-0294
    Request Owner's contact information
    3811 Portola Dr Santa Cruz, CA 95062
    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.
    3811 Portola Dr
    Santa Cruz, CA 95062
    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
    3811 Portola Dr Santa Cruz, CA 95062
    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
    Sean Sullivan
    Sean Sullivan
    Real Estate License ID: 01941525
    (831) 426-0294 (831) 227-3986
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!