Fully Occupied NNN
For Sale
Contact for pricing
Pending
923 Pacific Ave, Santa Cruz, CA 95060
Downtown Santa Cruz property with two long-term tenants under newly executed NNN lease agreements.
Property SizeContact for details
Days on Market144
Property Features for 923 Pacific Ave
General Information
Standard status
Pending
Property subtype
Retail
Occupancy
100%
Additional Details
Opportunity Zone
Yes
Building Details
Tenancy
Multi
Listing Agency:
Marcus & Millichap - Oakland
(510) 379-1200
Listed By:
Calvin Shih · License #CA 01780474
Source:
Crexi
Added: Apr 11
Changed: Aug 31
Last Checked: Aug 30 at 7:36PM
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 Marcus & Millichap - Oakland
Investment Insights
Based on property information with market context.
This fully occupied NNN property at 923 Pacific Ave in Santa Cruz is leased to two established long-term tenants. Both leases were renewed for 5-year NNN terms this year and include 3% annual increases, with tenants also contributing monthly rent toward NNN expenses.
Both occupants hold full alcoholic beverage licenses, a specific operational feature associated with the existing tenancy. The property is situated in an Opportunity Zone and is surrounded by developments totaling over 1,600 new residential units. Downtown Santa Cruz is also the subject of discussions regarding increased building heights in the downtown corridor, including proposals reaching 12 stories.
Both occupants hold full alcoholic beverage licenses, a specific operational feature associated with the existing tenancy. The property is situated in an Opportunity Zone and is surrounded by developments totaling over 1,600 new residential units. Downtown Santa Cruz is also the subject of discussions regarding increased building heights in the downtown corridor, including proposals reaching 12 stories.
Key Highlights
- 100% occupied by two established long‑term tenants
- Two new 5‑year NNN leases signed this year
- Leases include 3% annual increases and additional monthly rent for NNN expenses
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
3,643
Businesses Nearby
137k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 39%
Shops & Services 29%
Hotels & Casinos 10%
Dining 9%
Trader Joe's
Groceries
53,820 visits/mo
0.4 miles
Chevron
Shops & Services
10,272 visits/mo
0.5 miles
Wells Fargo
Shops & Services
9,361 visits/mo
0.5 miles
7-Eleven
Shops & Services
9,326 visits/mo
0.3 miles
7-Eleven
Shops & Services
8,219 visits/mo
0.4 miles
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 Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Downtown Santa Cruz property with two long-term tenants under newly executed NNN lease agreements.
Where is this nnn property located?
The property is located at 923 Pacific Ave Santa Cruz, CA.
What are key features of this property?
This property features: 100% occupied by two established long‑term tenants; Two new 5‑year NNN leases signed this year; Leases include 3% annual increases and additional monthly rent for NNN expenses
