Building Details

Building Size 1,800 SF

Year Built 1986

Listing Agency: Intero Real Estate Services

Listed By: Daniel Gluhaich · License #00963076 Show Phone

Source: Desantisrealty

Added: Oct 7 Changed: Oct 10 Last Checked: Oct 11 at 12:39PM

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Investment Insights

Based on property information with market context.

This medical office property in Watsonville was built in 1986.

Key Highlights

• Built in 1986

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$55,579

Cap Rate

6.18%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,111,580 $1.1M

Cap Rate 7%

$793,986 $794.0K

Cap Rate 9%

$617,544 $617.5K

Market Conditions

NOI Build-Up for 1,800 SF

Gross rent

$97.2K $54.00/SF

− Vacancy

−$4.6K −$2.54/SF

EGI

$92.6K $51.46/SF

− OpEx

−$37.1K −$20.58/SF

NOI

$55.6K $30.88/SF

Area

Santa Cruz County, CA

Vacancy

4.70%

Lease Rate

$54.00 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,111,580

Cap Rate 7%

$793,986

Cap Rate 9%

$617,544

Alternative Uses

Best Use

Healthcare Medical

$794.0K

$694.7K – $926.3K (±1% cap)

NOI $55,579 @ 7.0% cap · market cap 6.18%

Second Best

Office B

$631.8K

$552.8K – $737.1K (±1% cap)

NOI $44,226 @ 7.0% cap · market cap 4.91%

Theoretical Best

Retail

$1.03M

$900.6K – $1.20M (±1% cap)

NOI $72,047 @ 7.0% cap · market cap 8.01%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

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Current Use

Alaa Moustafa, DDS, ... Dental Office Joshua Mitnick, DPM, ... Physician The Foot Doctors of Santa ... Medical Clinic Nicole Surdock, DPM, ... Physician Mark Brenis, DPM Physician

Suggested Use

Top Pick Real Estate Agency Law Firm Building Supply Restaurant Hotel & Motel Spa & Massage Center

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

1,080

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 Office in West region

11% 2019

14.1% 2020

15.5% 2021

17.2% 2022

19.9% 2023

21% 2024

20.8% 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 medical office 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?

Medical Office Space - The property dates to 1986.

Where is this medical office space located?

The property is located at 47 Penny LN Watsonville, CA.

What is the asking price?

The asking price for this property is $899,950.

What are key features of this property?

This property features: Built in 1986