Building Details

Year Built 1973

Listing Agency: Sherman & Boone Realtors

Listed By: Nick Torres · License #01719985 Show Phone

Source: Exitrealty

Added: Jun 26, 2025 Changed: Oct 25 Last Checked: Sep 15 at 5:07AM

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Investment Insights

Based on property information with market context.

Located at 6016 Scotts Valley Dr, Scotts Valley, California, this property features an approximately 1,830 sq ft restaurant building on a 16,663 sq ft commercial-zoned lot. Situated along Highway 17, the property, formerly Cafe Carlos, is currently in shell condition. The location offers high visibility from the highway and signage opportunities. Its location near schools, parks, athletic fields, and office buildings provides a consistent flow of potential patrons. This property is suitable for an owner-user or developer.

Key Highlights

• High visibility location on Highway 17.
• Large 16,663 sq ft commercial‑zoned lot.
• Approx. 1,830 sq ft restaurant building.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$70,632

Cap Rate

7.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,412,640 $1.4M

Cap Rate 7%

$1,009,029 $1.0M

Cap Rate 9%

$784,800 $784.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,830 SF

Gross rent

$98.8K $54.00/SF

− Vacancy

−$4.6K −$2.54/SF

EGI

$94.2K $51.46/SF

− OpEx

−$23.5K −$12.87/SF

NOI

$70.6K $38.60/SF

Area

Santa Cruz County, CA

Vacancy

4.70%

Lease Rate

$54.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,412,640

Cap Rate 7%

$1,009,029

Cap Rate 9%

$784,800

Alternative Uses

Best Use

Specialty Retail

$1.01M

$882.9K – $1.18M (±1% cap)

NOI $70,632 @ 7.0% cap · market cap 7.06%

Second Best

—

—

no second resolved use

Theoretical Best

Retail

$1.05M

$915.6K – $1.22M (±1% cap)

NOI $73,248 @ 7.0% cap · market cap 7.32%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Restaurants

Suggested Use

Top Pick Parking Lot & Garage HVAC Service (Bike/Boat/Book/etc) Store Locksmith Barber Shop Grocery & Convenience Store

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

695

Businesses Nearby

50k

Monthly Visits Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 52% Dining 45% Hotels & Casinos 2%

Shell Shops & Services

12,565 visits/mo 0.1 miles

Jack in the Box Dining

9,452 visits/mo 0.1 miles

Starbucks Dining

7,766 visits/mo 0.2 miles

QuikStop Shops & Services

5,749 visits/mo 0.4 miles

Carl's Jr. Dining

5,732 visits/mo 0.1 miles

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 Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Similar Off Market Nearby

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Frequently Asked Questions

What type of property is this?

Restaurant - 1,830 sq ft restaurant on 16,663 sq ft lot.

Where is this restaurant located?

The property is located at 6016 Scotts Valley Drive Scotts Valley, CA.

What is the asking price?

The asking price for this property is $1,000,000.

What are key features of this property?

This property features: High visibility location on Highway 17.; Large 16,663 sq ft commercial‑zoned lot.; Approx. 1,830 sq ft restaurant building.