Listing Agency: Compass Show Phone

Listed By: Keith Kanady · License #00953975 Show Phone

Added: Jul 11 Changed: Sep 21 Last Checked: Oct 11 at 6:06PM

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MLS# ML81989156

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Investment Insights

Based on property information with market context.

This nearly 20-acre homesite is positioned at the end of a private road in Boulder Creek. The original home was lost in the CZU fire, but plans are included for a contemporary 3,550 sf Lindl Cedar home. Utilities are already in place, including septic, water, and electricity.

A 3,600 sf all-metal industrial-quality barn/workshop supports a wide range of uses, with a 5-inch concrete floor, roll-up doors, and available 220 power. Infrastructure for a radiant heat system is also in place, and the property includes a producing well.

Zoned SU, the property offers a secluded setting with capacity for both living and work uses, including the option to incorporate the existing shop and facilities into a live/work setup. The property is approximately 45 minutes from the heart of Silicon Valley and about 30 minutes to Santa Cruz beaches.

Key Highlights

• 20 private acres with stunning views and a serene, secluded setting.
• Existing utilities (septic, water, and electricity) and producing well in place, saving significant time and cost.
• Includes plans for a contemporary 3550 sq ft Lindl Cedar home.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,140

Cap Rate

5.35%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$802,800 $802.8K

Cap Rate 7%

$573,429 $573.4K

Cap Rate 9%

$446,000 $446.0K

Market Conditions

NOI Build-Up for 3,600 SF

Gross rent

$64.8K $18.00/SF

− Vacancy

−$3.0K −$0.85/SF

EGI

$61.8K $17.15/SF

− OpEx

−$21.6K −$6.00/SF

NOI

$40.1K $11.15/SF

Area

Santa Cruz County, CA

Vacancy

4.70%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$802,800

Cap Rate 7%

$573,429

Cap Rate 9%

$446,000

Alternative Uses

Best Use

Industrial

$1.03M

$900.6K – $1.20M (±1% cap)

NOI $72,047 @ 7.0% cap · market cap 9.61%

Second Best

Flex RnD

$573.4K

$501.8K – $669.0K (±1% cap)

NOI $40,140 @ 7.0% cap · market cap 5.35%

Theoretical Best

Retail

$2.06M

$1.80M – $2.40M (±1% cap)

NOI $144,094 @ 7.0% cap · market cap 19.21%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Residential land & home ...

Suggested Use

Top Pick Real Estate Agency Hair Salon Nail Salon Spa & Massage Center Skin Care Clinic Computer & Electronic Repair

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

Lease Details

Yes

Utilities to site

Location Intelligence

Trade Area within ½ mile

21

Businesses Nearby

Explore this area Business Placement

Demographics for 95006, CA

9,454

Population

3,855

Households

2.5

Avg Household Size

47

Median Age

39%

College-Educated

94%

High-School Grad

55.2 sq mi

ZIP Area

171

Density / Sq Mi

$128,483

Median Household Income

$58,859

Median Earnings

$1,985

Median Rent

$779,300

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

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What type of property is this? Where is this residential land & home lots 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?

Residential land & home lot - Nearly 20-acre homesite at the end of a private road with utility services in place and an all-metal barn/workshop.

Where is this residential land & home lot located?

The property is located at 360 Wildberry DR Boulder Creek, CA.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: 20 private acres with **stunning views** and a serene, secluded setting.; Existing utilities (septic, water, and electricity) and **producing well** in place, saving significant time and cost.; Includes plans for a contemporary 3550 sq ft Lindl Cedar home.