Stand-Alone Office
For Sale
$975,000
4665 Scotts Valley Drive, Scotts Valley, CA 95066
Stand-alone office building with a central shared workspace, four private offices, and large conference room, plus deck access from each office.
Property Size1,816 SF
Price / SF$536.89
Days on Market174
Property Features for 4665 Scotts Valley Drive
General Information
Standard status
Active
Size
1,816 SF
Property subtype
Commercial/Industrial
Additional Details
Office Units
4
Building Details
Year Built
1980
Listing Agency:
Kathleen Morgan-Martinez, Broker
Listed By:
Kathleen Morgan-Martinez · License #01807811
(831) 840-4636
Source:
Exitrealty
Added: Mar 17
Changed: Sep 5
Last Checked: Sep 5 at 6:34AM
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 Kathleen Morgan-Martinez, Broker
Investment Insights
Based on property information with market context.
This stand-alone office building is configured around a large central shared space suitable for administrative staff or a co-work setup, with four adjacent private offices and a large conference room. Each office has deck access, and the main entrance includes a seated waiting/reception area. The interior also features two private bathrooms (one with a shower) and a kitchen. The property includes a new HVAC system, and the owner will consider the sale of office furniture with the building.
The building is located on Scotts Valley Drive and is served by a private driveway and parking with ADA accessibility.
The building is located on Scotts Valley Drive and is served by a private driveway and parking with ADA accessibility.
Key Highlights
- Professional stand‑alone office building on Scotts Valley Drive built in 1980
- Central shared workspace with four adjacent private offices and a large conference room
- Deck access from each office
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
$44,619
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
4.58%
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%
$892,380
$892.4K
Cap Rate 7%
$637,414
$637.4K
Cap Rate 9%
$495,767
$495.8K
Market Conditions
NOI Build-Up for 1,816 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
$76.3K $42.00/SF
− Vacancy
−$16.8K −$9.24/SF
EGI
$59.5K $32.76/SF
− OpEx
−$14.9K −$8.19/SF
NOI
$44.6K $24.57/SF
Area
Santa Cruz County, CA
Vacancy
22.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
25.00%
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%
$892,380
Cap Rate 7%
$637,414
Cap Rate 9%
$495,767
Alternative Uses
Best Use
Office B
$637.4K
$557.7K – $743.7K
NOI $44,619 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$1.04M
$908.6K – $1.21M
NOI $72,687 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Office units
Location Intelligence
Trade Area within ½ mile
694
Businesses Nearby
Explore this area
Business Placement
Demographics for 95066, CA
15,483
Population
6,733
Households
2.3
Avg Household Size
45
Median Age
55%
College-Educated
96%
High-School Grad
18.7 sq mi
ZIP Area
828
Density / Sq Mi
$146,941
Median Household Income
$73,323
Median Earnings
$2,384
Median Rent
$1,113,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Coworking space - Stand-alone office building with a central shared workspace, four private offices, and large conference room, plus deck access from each office.
Where is this coworking space located?
The property is located at 4665 Scotts Valley Drive Scotts Valley, CA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Professional stand‑alone office building on Scotts Valley Drive built in 1980; Central shared workspace with four adjacent private offices and a large conference room; Deck access from each office
