Highway 17 Office
5523 Scotts Valley Dr Scotts Valley, CA 95066
For Sale
$2,295,000
7,665 sq ft office building near Highway 17.
Property Size7,665 SF
Price / SF$299.41
Days on Market94
Property Features for 5523 Scotts Valley Dr
General Information
Standard status
Active
Size
7,665 SF
Property subtype
Commercial
Building Details
Year Built
1989
Listing Agency:
eXp Realty of California, Inc.
(831) 566-6938
Listed By:
Bjorn Berg · License #70010201
(831) 566-6938
Source:
Elliman
Added: Apr 27
Changed: Jul 10
Last Checked: Jul 28 at 2:56PM
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 eXp Realty of California, Inc.
Investment Insights
Based on property information with market context.
Located just off Highway 17, this 7,665 sq ft office building, constructed in 1989, is situated in the heart of the Scotts Valley business district, offering convenient access to Silicon Valley. The property is currently fully leased with 22 office suites on month-to-month agreements, generating approximately $13,265 per month. The short-term lease structure provides immediate cash flow while allowing a future owner the opportunity to adjust rents, reposition suites, or refine the tenant mix over time. In addition to the office suites, the property includes a ±2,000 sq ft mechanics garage, expanding the range of potential uses and tenant appeal. Twenty-two on-site parking spaces support daily operations, and owned solar helps offset operating expenses. The location has a bike score of 75, indicating it is very bikeable, and a walk score of 64, indicating it is somewhat walkable.
Key Highlights
- Fully leased office building generating approximately $13,265 per month in income
- Prime location in the heart of the Scotts Valley business district with easy access to Silicon Valley
- Month‑to‑month lease agreements offer flexibility to adjust rents, reposition suites, or refine tenant mix
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $321.9k | $42.00 |
| − Vacancy | −$70.8k | −$9.24 |
| EGI | $251.1k | $32.76 |
| − OpEx | −$62.8k | −$8.19 |
| NOI | $188.3k | $24.57 |
7,665 SF · lease $42.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.69M
$2.35M – $3.14M
NOI $188,329 @ 7.0% cap · market cap 8.21%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$4.38M
$3.83M – $5.11M
NOI $306,799 @ 7.0% cap · market cap 13.37%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - 7,665 sq ft office building near Highway 17.
Where is this office building 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: Fully leased office building generating approximately $13,265 per month in income; Prime location in the heart of the Scotts Valley business district with easy access to Silicon Valley; Month‑to‑month lease agreements offer flexibility to adjust rents, reposition suites, or refine tenant mix
