Corner Automotive Service
For Sale
$1,350,000
753 E Lake Ave, Watsonville, CA 95076
Freestanding corner property with roll-up doors, office/storage areas, and on-site parking on a CN-zoned flat lot.
Property Size1,117 SF
Lot Size0.39 Acres
Price / SF$1,208
Days on Market86
Property Features for 753 E Lake Ave
General Information
Standard status
Active
Size
1,117 SF
Lot size
0.39 Acres
Property subtype
General Commercial
Zoning
CN
Additional Details
Road Access
Yes
Amenities
3
Metal
10 Parking Spaces.
Building Details
Year Built
1963
Listing Agency:
BCRE
(510) 222-0900
Listed By:
Edder Barcenas-Cortez · License #02152984
(510) 206-6526
Source:
Xome
Added: Jun 11
Changed: Sep 1
Last Checked: Sep 4 at 3:03AM
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 BCRE
Investment Insights
Based on property information with market context.
Freestanding commercial building configured for automotive and tire service, including roll-up doors plus office/storage areas. The site sits on a flat corner lot with abundant on-site parking, providing practical on-grade access for service operations. The property’s existing automotive layout supports related vehicle-focused uses, and buyers are encouraged to verify permitted uses with the City of Watsonville.
The property is positioned on East Lake Avenue with high visibility and frontage, offering strong exposure for neighborhood-serving commercial activity. It is zoned CN – Neighborhood Commercial, which may support a range of retail, restaurant, office, medical, convenience market, and service-oriented businesses.
For investors, owner-users, or redevelopment planners, the combination of an automotive-ready building and a sizable corner parcel on a busy thoroughfare creates a flexible foundation for next steps, subject to applicable approvals.
The property is positioned on East Lake Avenue with high visibility and frontage, offering strong exposure for neighborhood-serving commercial activity. It is zoned CN – Neighborhood Commercial, which may support a range of retail, restaurant, office, medical, convenience market, and service-oriented businesses.
For investors, owner-users, or redevelopment planners, the combination of an automotive-ready building and a sizable corner parcel on a busy thoroughfare creates a flexible foundation for next steps, subject to applicable approvals.
Key Highlights
- Freestanding commercial building on a corner lot with approximately 1,117 SF and approximately 17,163 SF of land
- Zoned CN – Neighborhood Commercial in Watsonville, supporting neighborhood‑serving commercial uses (buyer to verify permitted uses)
- Configured for automotive/tire service use with roll‑up doors, office/storage areas, and abundant on‑site parking
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$44,709
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.31%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$894,180
$894.2K
Cap Rate 7%
$638,700
$638.7K
Cap Rate 9%
$496,767
$496.8K
Market Conditions
NOI Build-Up for 1,117 SF
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.
Gross rent
$67.0K $60.00/SF
− Vacancy
−$3.1K −$2.82/SF
EGI
$63.9K $57.18/SF
− OpEx
−$19.2K −$17.15/SF
NOI
$44.7K $40.03/SF
Area
Santa Cruz County, CA
Vacancy
4.70%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$894,180
Cap Rate 7%
$638,700
Cap Rate 9%
$496,767
Alternative Uses
Best Use
Retail
$638.7K
$558.9K – $745.2K
NOI $44,709 @ 7.0% cap · market cap 3.31%
Second Best
Industrial
$319.4K
$279.4K – $372.6K
NOI $22,355 @ 7.0% cap · market cap 1.66%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
6k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Home Improvements & Furnishings 100%
Ace Hardware of Watsonville
Home Improvements & Furnishings
5,774 visits/mo
0.3 miles
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 Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Easy Tune-Up — 469 Union St, Watsonville, CA 95076
- Autotech Auto Body — 18 E Lake Ave Ste 101, Watsonville, CA 95076
- Beach TowTruck Service — 103 E Beach St, Watsonville, CA 95076
- Speed of Light Towing & Recovery, Inc — 637 Main St, Watsonville, CA 95076
- A Speed of Light Towing Inc — 637 Main St, Watsonville, CA 95076
Frequently Asked Questions
What type of property is this?
Auto shop - Freestanding corner property with roll-up doors, office/storage areas, and on-site parking on a CN-zoned flat lot.
Where is this auto shop located?
The property is located at 753 E Lake Ave Watsonville, CA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Freestanding commercial building on a corner lot with approximately 1,117 SF and approximately 17,163 SF of land; Zoned CN – Neighborhood Commercial in Watsonville, supporting neighborhood‑serving commercial uses (buyer to verify permitted uses); Configured for automotive/tire service use with roll‑up doors, office/storage areas, and abundant on‑site parking
