Recently Renovated Office
550 Water St Santa Cruz, CA 95060
For Sale
Contact for pricing
Recently renovated office building offers abundant natural light and high ceilings across 800 square feet.
Property Size800 SF
Price / SF$873.75
Days on Market21
Property Features for 550 Water St
General Information
Standard status
Active
Size
800 SF
Property subtype
OFFICE
Listing Agency:
J.R. Parrish Commercial Real Estate
(831) 247-1510
Listed By:
Matt Shelton
Source:
Moodyscre
Added: Jul 9
Changed: Jul 28
Last Checked: Jul 29 at 2:57PM
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 J.R. Parrish Commercial Real Estate
Investment Insights
Based on property information with market context.
This recently renovated office building is configured to serve professional office needs, with abundant natural light and high ceilings throughout. The offering totals 800 square feet.
The property is described as being within walking distance to the courthouse, providing convenient proximity for office users.
Ideal for tenants or buyers seeking a smaller footprint office space, the building’s recent renovations help support a modern, move-ready environment.
The property is described as being within walking distance to the courthouse, providing convenient proximity for office users.
Ideal for tenants or buyers seeking a smaller footprint office space, the building’s recent renovations help support a modern, move-ready environment.
Key Highlights
- Recently renovated office building
- 800 sq ft office space
- Abundant natural light
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.6k | $42.00 |
| − Vacancy | −$7.4k | −$9.24 |
| EGI | $26.2k | $32.76 |
| − OpEx | −$6.6k | −$8.19 |
| NOI | $19.7k | $24.57 |
800 SF · lease $42.00/SF/yr · vacancy 22.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$280.8K
$245.7K – $327.6K
NOI $19,656 @ 7.0% cap · market cap 2.81%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$457.4K
$400.3K – $533.7K
NOI $32,021 @ 7.0% cap · market cap 4.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Recently renovated office building offers abundant natural light and high ceilings across 800 square feet.
Where is this office building located?
The property is located at 550 Water St Santa Cruz, CA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Recently renovated office building; 800 sq ft office space; Abundant natural light
