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    325 Westridge Dr Watsonville, CA 95076

    Sponsored
    For Sale
    $10,130,000

    Prime Office Building, 36,635 SF, High NOI

    Property size:
    36,635 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional investment opportunity presents a fully improved, single-story, Class A office building totaling 36,635 square feet. Located in Watsonville, CA's prestigious Westridge Business Park, this property boasts a prime location with easy access to Highways 1, 129, and 152. The building, constructed with an attractive tan-colored exposed aggregate finish and significant glass lines, is situated within a beautifully landscaped setting. Currently 100% leased to Driscoll's Inc. as their corporate headquarters since 1994, the lease has 5.5 years remaining (expiring 05/30/2030) with annual 3% rent bumps. The property offers a strong Net Operating Income (NOI) of $695,977, resulting in a compelling 6.90% capitalization rate. The asking price is $10,130,000, translating to $276 per square foot. This is a rare chance to acquire a highly sought-after asset in a thriving Santa Cruz County office market, presenting significant upside potential. The property features a triple net (NNN) lease structure. The building is one story and comprises one unit. Nearby businesses include DHL, Sierra Thermal Systems, Inc., California Strawberry Commission, California Giant, Gold's Gym, and the County of Santa Cruz. This is a truly remarkable investment opportunity.

    Property Features for 325 Westridge Dr

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    36,635 SF
    Class
    A

    Building Details

    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • ± 36,635 SF single‑story Class A office building.
    • Fully improved, high‑quality office building in Watsonville, CA.
    • Prime location in Westridge Business Park with easy highway access.
    • 100% leased to Driscoll's Inc. (corporate HQ since 1994) with 5.5 years remaining on the lease, including 3% annual rent increases.
    • $10,130,000 asking price, $276/SF, with a 6.90% cap rate and $695,977 annual NOI.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Watsonville
    County
    Santa Cruz
    State
    California
    Longitude
    -121.782867
    Latitude
    36.9121272

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Office Building, 36,635 SF, High NOI
    Where is this office property / space located?
    The property is located at 325 Westridge Dr Watsonville, CA.
    What is the asking price?
    The asking price for this property is $10,130,000.
    What are key features of this property?
    This property features: ± 36,635 SF single-story Class A office building.; Fully improved, high-quality office building in Watsonville, CA.; Prime location in Westridge Business Park with easy highway access.
    (831) 464-5039
    Request Owner's contact information
    325 Westridge Dr Watsonville, CA 95076
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    Watsonville, CA 95076
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    Realmo Value Estimation

    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.

    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
    325 Westridge Dr Watsonville, CA 95076
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