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    501 Mission St Santa Cruz, CA 95060

    Sponsored
    For Lease
    $18 SF/Yr ($17,739 /Mo)

    Prime Santa Cruz Office, 742 sq ft.

    Lot size:
    11,826 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 742-square-foot office space is ideally situated on the second floor of 501 Mission Street in the vibrant city of Santa Cruz, California. Located in Santa Cruz County, this single-tenant property offers a traditional office layout perfect for a variety of businesses. The building itself boasts a total of 11,826 square feet, providing ample space and a professional atmosphere. The unit becomes available for occupancy on October 1st. This is a fantastic opportunity to establish a presence in a desirable Santa Cruz location. The address is 501 Mission Street, Santa Cruz, CA 95060. The property's convenient location offers easy access to local amenities, transportation routes, and a thriving business community. This traditional office space provides a comfortable and productive work environment, making it an ideal choice for companies seeking a well-maintained and conveniently located office in Santa Cruz. The property is ready for immediate occupancy, allowing for a seamless transition for your business. Don't miss this chance to secure this exceptional office space in a prime Santa Cruz location.

    Property Features for 501 Mission St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    11,826 SF
    Total Rate
    17739

    Unit(s) available at that property

    Space
    Size
    742 SF
    Rate per SF
    $18

    HighLights

    • 742 SF office space available October 1st.
    • Located on the second floor of a 11,826 SF building at 501 Mission Street, Santa Cruz, CA.
    • Single‑tenant occupancy.
    • Traditional office layout.
    • Prime Santa Cruz location with easy access to amenities and transportation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Santa Cruz Wellness ... Wellness Center David Schulkin MFT, ... Marriage Or Relationship Counselor Hannah Renee Tunkel, ... Counselor Carolyn Vitale, LMFT Marriage Or Relationship Counselor The Law Office of Ashley ... Personal Injury Attorney

    Suggested Use

    Realty agency Law Firm Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Building Supply Clothing Store Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Santa Cruz
    County
    Santa Cruz
    State
    California
    Longitude
    -122.03335921213
    Latitude
    36.97538568474

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Santa Cruz Office, 742 sq ft.
    Where is this office property / space located?
    The property is located at 501 Mission St Santa Cruz, CA.
    What is the lease rate?
    The lease rate is $18 SF/Yr.
    What are key features of this property?
    This property features: 742 SF office space available October 1st.; Located on the second floor of a 11,826 SF building at 501 Mission Street, Santa Cruz, CA.; Single-tenant occupancy.
    Request Owner's contact information
    501 Mission St Santa Cruz, CA 95060
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    Santa Cruz, CA 95060
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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.

    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
    501 Mission St Santa Cruz, CA 95060
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