Victorian Mixed-Use
New
For Sale
$2,535,000
603 Mission St, Santa Cruz, CA 95060
The office layout includes six private offices, meeting rooms, and break areas, with a separate legal residential unit above office space.
Property Size5,923 SF
Price / SF$427.99
Days on Market2
Property Features for 603 Mission St
General Information
Standard status
Active
Size
5,923 SF
Property subtype
Multi Family Home
Zoning
Commercial
Site & Location
Neighborhood
Downtown
Road Access
Yes
Additional Details
Property Use
Office
Building Details
Building Size
5,923 SF
Year Built
1889
Buildings
2
Construction
Victorian
Listing Agency:
Anderson Christie, Inc.
Listed By:
Marvin Christie · License #01894395
(831) 406-1031
Source:
Firesiderealty
Added: Oct 23
Last Checked: Oct 23 at 5:21PM
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 Anderson Christie, Inc.
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Investment Insights
Based on property information with market context.
Built in 1889, the Victorian property is currently configured for professional office use, with six private offices, meeting rooms, and break areas. A second structure contains office space and a legal residential unit on its upper floor.
The property comprises three parcels at 603 Mission St in Santa Cruz, on a corner along a heavily traveled road and within walking distance of downtown shops and restaurants. Commercial zoning allows multi-residential use, and the City permits conversion to multifamily housing. The property has a history of therapy and professional office occupancy.
The property comprises three parcels at 603 Mission St in Santa Cruz, on a corner along a heavily traveled road and within walking distance of downtown shops and restaurants. Commercial zoning allows multi-residential use, and the City permits conversion to multifamily housing. The property has a history of therapy and professional office occupancy.
Key Highlights
- 1889 Victorian building currently used for offices
- Six private offices, plus meeting rooms and break areas
- Separate structure includes office space and a legal residential unit on the second floor
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$211,673
Cap Rate
8.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,233,460
$4.2M
Cap Rate 7%
$3,023,900
$3.0M
Cap Rate 9%
$2,351,922
$2.4M
Market Conditions
NOI Build-Up for 5,923 SF
Gross rent
$355.4K $60.00/SF
− Vacancy
−$16.7K −$2.82/SF
EGI
$338.7K $57.18/SF
− OpEx
−$127.0K −$21.44/SF
NOI
$211.7K $35.74/SF
Area
Santa Cruz County, CA
Vacancy
4.70%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,233,460
Cap Rate 7%
$3,023,900
Cap Rate 9%
$2,351,922
Alternative Uses
Best Use
Mixed Use
$3.02M
$2.65M – $3.53M
NOI $211,673 @ 7.0% cap · market cap 8.35%
Second Best
Office B
$2.08M
$1.82M – $2.43M
NOI $145,528 @ 7.0% cap · market cap 5.74%
Theoretical Best
Retail
$3.39M
$2.96M – $3.95M
NOI $237,074 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
3,288
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?
Mixed-use property - The office layout includes six private offices, meeting rooms, and break areas, with a separate legal residential unit above office space.
Where is this mixed-use property located?
The property is located at 603 Mission St Santa Cruz, CA.
What is the asking price?
The asking price for this property is $2,535,000.
What are key features of this property?
This property features: 1889 Victorian building currently used for offices; Six private offices, plus meeting rooms and break areas; Separate structure includes office space and a legal residential unit on the second floor
