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    Santa Cruz Mountain Naturist Resort Title is generated by Realmo AI

    20600 Aldercroft Heights Rd, Los Gatos, CA 95033

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    112-acre naturist resort with expansion potential near Silicon Valley.

    Type:Hospitality, Mixed Use, Special Purpose
    Lot size:
    112.00 Acres
    Added:
    Nov 30, 2023
    Days on Market:
    916
    Last Refresh:
    May 12 at 9:49 pm

    Property Features for 20600 Aldercroft Heights Rd

    General Information

    Standard status
    Active
    Lot size
    112.00 Acres
    Property subtype
    Hospitality, Mixed Use, Special Purpose

    We can help!

    Listing Contact
    Joe Pollifrone

    Listing agent Joe Pollifrone License #CA 00889153

    Listing office Christie's International Sereno

    Listing date Nov 30, 2023

    Source Crexi

    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 Christie's International Sereno

    HighLights

    • 112‑acre naturist resort with extensive User Use Permit for expansion including cabins, lodge/conference center, gym, pools, spas, and camping kitchens.
    • Prime location in the Santa Cruz Mountains, near Lexington Reservoir, minutes from Los Gatos/Silicon Valley, and easily accessible from Highway 17.
    • State‑licensed water system with multiple sources (Hendry's creek, spring, 2 wells) and an 85K water tank.
    • Existing infrastructure includes restaurant, office, cabins, yurts, campsites, RV/trailer sites, pool, spa, sports courts, hiking trails, and ample parking (242 spaces).
    • Potential for diverse development opportunities such as conference center, retreat, vineyard/winery, college campus, wellness center, equestrian center, or glamping resort.
    • Unique property with historic roots, nestled among majestic Redwoods and ancient Oaks, offering natural beauty and serenity.

    Overview

    This 112-acre naturist resort, with historical roots, is located in the Santa Cruz Mountains, 1.4 miles off Highway 17 near Lexington Reservoir and minutes from downtown Los Gatos and Silicon Valley. The property features majestic redwoods and ancient oaks, along with a state-licensed water system sourced from Hendry's Creek, a spring, and two wells, stored in an 85,000-gallon water tank. Existing improvements include a restaurant, office, 19 cabins, 16 yurts, 12 to 18 campsites, and 35 RV/trailer sites. Recreational amenities include a pool with a viewing deck, spa, tennis, pickleball, and volleyball courts, and miles of hiking trails. The property also has an orchard, outdoor stages, two fire hydrants, and a maintenance shop. Parking is available in 242 spaces. The User Use Permit allows for the addition of eight cabins, an 18-room lodge/conference center, a gym or multi-purpose building, three bathroom facilities, another pool and two spas, and two camping kitchens. Potential future uses include a conference center, retreat, vineyard with winery and lodge, satellite college/tech campus, wellness center, horse/equestrian center, glamping-eco adventure resort, or weddings and events.
    Location Intelligence

    Current Use by Public Records

    Resorts

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Hotel & Motel Kitchen & Bath Showroom Food Market Accounting Firm HVAC Service Bar & Pub

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

    Location Insight

    • Map
    • Local Demand
    City
    Los Gatos
    County
    Santa Cruz
    State
    California
    Longitude
    -121.981
    Latitude
    37.2167

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    FAQs

    What type of property is this?
    Resort - 112-acre naturist resort with expansion potential near Silicon Valley.
    Where is this resort located?
    The property is located at 20600 Aldercroft Heights Rd Los Gatos, CA.
    What is the asking price?
    The asking price for this property is $29,200,000.
    What are key features of this property?
    This property features: 112‑acre naturist resort with extensive User Use Permit for expansion including cabins, lodge/conference center, gym, pools, spas, and camping kitchens.; Prime location in the Santa Cruz Mountains, near Lexington Reservoir, minutes from Los Gatos/Silicon Valley, and easily accessible from Highway 17.; State‑licensed water system with multiple sources (Hendry's creek, spring, 2 wells) and an 85K water tank.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Joe Pollifrone
    Real Estate License ID: CA 00889153
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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.

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