Listing Agency: J.R. Parrish Commercial Real Estate Show Phone

Listed By: Rachael Shelton Show Phone

Source: Moodyscre

Added: Jul 9 Changed: Oct 11 Last Checked: Oct 10 at 1:27PM

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Investment Insights

Based on property information with market context.

This for-sale industrial property includes 13,536 SF of shop and office space, along with a 3,573 SF canopy parking shop space. The offering also notes that personal property is included. The property is zoned Industrial Park.

The address is 227 Kearney Ext, Watsonville, CA 95076.

The building is configured to support shop operations with dedicated office space, supplemented by covered canopy parking for additional shop use.

Key Highlights

• Zoned Industrial Park facility with 13,536 SF shop and office space
• Includes 3,573 SF canopy‑covered parking shop space
• Personal property included with the sale

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$270,896

Cap Rate

8.47%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$5,417,920 $5.4M

Cap Rate 7%

$3,869,943 $3.9M

Cap Rate 9%

$3,009,956 $3.0M

Market Conditions

NOI Build-Up for 13,536 SF

Gross rent

$406.1K $30.00/SF

− Vacancy

−$19.1K −$1.41/SF

EGI

$387.0K $28.59/SF

− OpEx

−$116.1K −$8.58/SF

NOI

$270.9K $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 Rate 5%

$5,417,920

Cap Rate 7%

$3,869,943

Cap Rate 9%

$3,009,956

Alternative Uses

Best Use

Industrial

$3.87M

$3.39M – $4.51M (±1% cap)

NOI $270,896 @ 7.0% cap · market cap 8.47%

Second Best

Flex RnD

$2.16M

$1.89M – $2.52M (±1% cap)

NOI $150,928 @ 7.0% cap · market cap 4.72%

Theoretical Best

Retail

$7.74M

$6.77M – $9.03M (±1% cap)

NOI $541,792 @ 7.0% cap · market cap 16.93%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Flex space

Suggested Use

Top Pick Real Estate Agency Law Firm HVAC Service Pharmacy Grocery & Convenience Store Parking Lot & Garage

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,553

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 95076, CA

84,433

Population

26,488

Households

3.2

Avg Household Size

35

Median Age

19%

College-Educated

72%

High-School Grad

135.1 sq mi

ZIP Area

625

Density / Sq Mi

$86,685

Median Household Income

$36,077

Median Earnings

$1,851

Median Rent

$767,200

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this flex space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - Industrial Park-zoned facility with shop and office space plus canopy-covered parking shop area and included personal property.

Where is this flex space located?

The property is located at 227 Kearney Ext Watsonville, 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: Zoned Industrial Park facility with 13,536 SF shop and office space; Includes 3,573 SF canopy‑covered parking shop space; Personal property included with the sale