Recently Renovated Office
For Sale
Contact for pricing
550 Water St, Santa Cruz, CA 95060
Recently renovated office building offers abundant natural light and high ceilings across 800 square feet.
Property Size800 SF
Price / SF$873.75
Days on Market113
Property Features for 550 Water St
General Information
Standard status
Active
Size
800 SF
Property subtype
OFFICE
Site & Location
Neighborhood
Ocean Street
Additional Details
Business Included
No
Listing Agency:
J.R. Parrish Commercial Real Estate
(831) 476-2222
Listed By:
Matt Shelton
(831) 247-1510
Source:
Moodyscre
Added: Jul 9
Changed: Oct 25
Last Checked: Oct 28 at 12:19PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$19,656
Cap Rate
2.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$393,120
$393.1K
Cap Rate 7%
$280,800
$280.8K
Cap Rate 9%
$218,400
$218.4K
Market Conditions
NOI Build-Up for 800 SF
Gross rent
$33.6K $42.00/SF
− Vacancy
−$7.4K −$9.24/SF
EGI
$26.2K $32.76/SF
− OpEx
−$6.6K −$8.19/SF
NOI
$19.7K $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 Rate 5%
$393,120
Cap Rate 7%
$280,800
Cap Rate 9%
$218,400
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.
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Current Use
Location Intelligence
Trade Area within ½ mile
3,471
Businesses Nearby
Explore this area
Business Placement
Demographics for 95060, CA
47,931
Population
20,181
Households
2.4
Avg Household Size
39
Median Age
55%
College-Educated
94%
High-School Grad
54.5 sq mi
ZIP Area
879
Density / Sq Mi
$106,040
Median Household Income
$46,231
Median Earnings
$2,356
Median Rent
$1,189,300
Median Home Value
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Market
Vacancy Rate% for Office in West region
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
