Versatile Industrial Property with
For Sale
$3,200,000
Pending
125 Dubois Street, Santa Cruz, CA 95060
Industrial property with manufacturing, warehouse space, and undeveloped land.
Property Size13,125 SF
Days on Market407
Property Features for 125 Dubois Street
General Information
Standard status
Pending
Size
13,125 SF
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$42,000
Building Details
Year Built
1977
Listing Agency:
Main Street Realtors
Listed By:
Datta Khalsa · License #01161050
(831) 818-0181
Source:
Exitrealty
Added: Jul 25, 2025
Changed: Sep 4
Last Checked: Jul 23 at 11:08AM
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 Main Street Realtors
Investment Insights
Based on property information with market context.
The property at 121/123/125 Dubois Street is a versatile industrial property featuring over 13,1225 square feet of manufacturing and warehouse space. The property comprises three adjacent suites that can be used separately or as a single, connected complex. Originally constructed in the late 1970s with a 5,000 square foot cinder block structure, the building was expanded in the early 1980s with an additional 8,125 square feet. While currently configured as one contiguous space, the property was originally designed as three separately metered units, providing flexibility for multi-tenant use. The site is well-suited for various industrial applications, including manufacturing, distribution, and general warehousing. It is ideal for an owner-user looking to occupy the entire space or lease a portion for income. The property includes approximately 23,000 square feet of fenced, undeveloped land in the back, suitable for use as a yard for large vehicle and equipment storage or for the development of additional buildings.
Key Highlights
- 13,1225+/- SF of manufacturing and warehouse space.
- 23,000+/- SF of fenced undeveloped land for storage or development.
- Flexible configuration as a single complex or three separate units.
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
$262,671
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
8.21%
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%
$5,253,420
$5.3M
Cap Rate 7%
$3,752,443
$3.8M
Cap Rate 9%
$2,918,567
$2.9M
Market Conditions
NOI Build-Up for 13,125 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
$393.8K $30.00/SF
− Vacancy
−$18.5K −$1.41/SF
EGI
$375.2K $28.59/SF
− OpEx
−$112.6K −$8.58/SF
NOI
$262.7K $20.01/SF
Area
Santa Cruz County, CA
Vacancy
4.70%
Lease Rate
$30.00 /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%
$5,253,420
Cap Rate 7%
$3,752,443
Cap Rate 9%
$2,918,567
Alternative Uses
Best Use
Warehouse
$4.56M
$3.99M – $5.32M
NOI $318,957 @ 7.0% cap · market cap 9.97%
Second Best
Industrial
$3.75M
$3.28M – $4.38M
NOI $262,671 @ 7.0% cap · market cap 8.21%
Theoretical Best
Retail
$7.50M
$6.57M – $8.76M
NOI $525,341 @ 7.0% cap · market cap 16.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
826
Businesses Nearby
Explore this area
Business Placement
Demographics for 95060, CA
47,931
Population
20,181
Households
2.4
Avg Household Size
39
Median Age
55%
College-Educated
94%
High-School Grad
54.5 sq mi
ZIP Area
879
Density / Sq Mi
$106,040
Median Household Income
$46,231
Median Earnings
$2,356
Median Rent
$1,189,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Manufacturing property - Industrial property with manufacturing, warehouse space, and undeveloped land.
Where is this manufacturing property located?
The property is located at 125 Dubois Street Santa Cruz, CA.
What is the asking price?
The asking price for this property is $3,200,000.
What are key features of this property?
This property features: 13,1225+/- SF of manufacturing and warehouse space.; 23,000+/- SF of fenced undeveloped land for storage or development.; Flexible configuration as a single complex or three separate units.
