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    2 Santa Cruz Ave Los Gatos, CA 95030-5900

    • Retail space
    • 6,452 SF
    • 0.08 lot acres
    OFF-MARKET
    Last Sale
    Feb 06, 2023
    $14,000,000
    Value Estimations
    $13,425,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-2701588
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • The Park Vista / Real Estate Agency
    • Sherer Group LLC / Financial Planner / Financial Consultant
    • RMJR Tax and Accounting / Tax Preparation Service / Certified Public Accountant
    • Boehm Thomas M / Attorney
    • Millen Mark / Attorney

    Property Details for 2 Santa Cruz Ave

    Year built
    1932
    Construction
    TILT-UP CONCRETE
    Lot size
    0.08 lot acres
    Property size
    6,452 SF
    Zone code
    C2
    Property type
    Retail space
    APN
    529-03-046
    APU
    52903046

    Description

    This exceptional executive office space at 2 N Santa Cruz Ave in Monte Sereno, CA 95030 offers a unique opportunity for businesses seeking a prestigious location. Situated on an expansive 8-acre lot, this 7,900 square foot building boasts a rich history, having been constructed in 1923. Currently, there are multiple tenancies available, with individual suites ranging from a minimum of 821 square feet to a maximum contiguous space of 1,015 square feet. A total of 1,836 square feet is currently vacant and ready for immediate occupancy. The property's location in Santa Clara County provides easy access to major transportation routes and a vibrant business community. Ideal for businesses seeking a blend of historic charm and modern functionality, this property presents a rare opportunity to establish a presence in a highly desirable area. The building's classic architecture complements the sophisticated needs of executive office tenants. The ample lot size offers potential for future expansion or outdoor amenities. Don't miss this chance to secure your business's future in this exceptional Los Gatos location. Inquire today to learn more about available spaces and lease terms.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $13,425,000
      ML approach
      $9,245,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Los Gatos
    County
    Santa Clara
    State
    California
    Longitude
    -121.984
    Latitude
    37.2227
    CBSA code
    41940
    CBSA name
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2022
    $0.00
    $6,762,600
    $4,161,600
    $10,924,200
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $410,000
      5,481 SF

      652 Santa Cruz Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,481 SF
      652 Santa Cruz Ave, Los Gatos, CA 95030-4359
      View Details
    • Value Estimation
      $425,000
      5,329 SF

      100 Santa Cruz Ave

      RETAIL STORES (PERSONAL SERVICES) • 5,329 SF
      100 Santa Cruz Ave, Los Gatos, CA 95030-5957
      View Details
    • Value Estimation
      $305,000
      2,774 SF

      27 Santa Cruz Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,774 SF
      27 Santa Cruz Ave, Los Gatos, CA 95030-5916
      View Details
    • Value Estimation
      $300,000
      2,145 SF

      246 Main St

      RETAIL STORES (PERSONAL SERVICES) • 2,145 SF
      246 Main St, Los Gatos, CA 95030-6817
      View Details
    • Value Estimation
      $315,000
      2,268 SF

      160 Los Gatos Saratoga Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,268 SF
      160 Los Gatos Saratoga Rd, Los Gatos, CA 95030-5307
      View Details
    • Value Estimation
      $435,000
      1,536 SF

      225 Los Gatos Saratoga Rd

      RETAIL STORES (PERSONAL SERVICES) • 1,536 SF
      225 Los Gatos Saratoga Rd, Los Gatos, CA 95030-5308
      View Details

    Similar Nearby for Sale

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      Trophy investment property with retail, office, and residential potential.
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      Los Gatos Office Space

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    Similar Nearby for Lease

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      Los Gatos Retail/Office Space

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      Remodeled Shopping Center in Los Gatos

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    • $3 SF/Yr
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      Los Gatos Office Space Available

      Office space available for rent in Los Gatos, CA.
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      View Details
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    2 Santa Cruz Ave
    Los Gatos, CA 95030-5900
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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