Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Historic Santa Cruz Restaurant Space Title is generated by Realmo AI

    555 Soquel Ave, Santa Cruz, CA 95062

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    Versatile restaurant space with patio in historic Santa Cruz location.

    Type:Restaurant
    Property size:
    4,000 SF
    Added:
    Mar 14, 2024
    Days on Market:
    811
    Last Refresh:
    May 12 at 9:47 pm

    Property Features for 555 Soquel Ave

    General Information

    Standard status
    Active
    Size
    4,000 SF
    Property subtype
    Restaurant

    Spaces For Lease

    at 555 Soquel Ave Contact us

    $2.00/Mo

    Size
    4,085 SF
    Type
    Restaurant
    Contact us

    We can help!

    Listing Contact
    Nick Pavlina

    Listing agent Nick Pavlina License #02226853

    Listing office Russell E. Gross Real Estate, Inc.

    Listing date Mar 14, 2024

    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 Russell E. Gross Real Estate, Inc.

    HighLights

    • Over 4,000 square feet of versatile commercial space.
    • Spacious outdoor patio.
    • Ample parking available.
    • Historic location, formerly Ristorante Italiano.
    • Second bar with a glass ceiling.
    • Large windows providing natural light.

    Overview

    This commercial lease opportunity is located in a historic Santa Cruz location. The space, formerly Ristorante Italiano, offers over 4,000 square feet of space. The property includes separate men's and women's restrooms. A spacious outdoor patio and a second bar with a glass ceiling are featured. Large windows provide natural light. Ample parking is available. This space previously housed the iconic Ristorante Italiano, offering a unique canvas for a restaurant business.
    Property Profile Location Intelligence

    Current Use by Public Records

    Meris Walton Alternative Medicine Practice Lively Teresa PHD Physician Genevieve Friedberg, MFT ... Counselor Kristin Baron, MFT Marriage Or Relationship Counselor Rasa Tavangar, LMFT ... Counselor

    Suggested Use

    Real Estate Agency Law Firm Restaurant Dental Office Spa & Massage Center Hair Salon Nail Salon Building Supply Daycare Center Gym & Fitness 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
    -122.0175969
    Latitude
    36.9764955

    Nearby Similar for Lease

    • $42 SF/Yr
      1,022 SF

      Downtown Santa Cruz Retail Space

      Retail spaces in a new apartment complex, available now.
      525 Cedar St, Santa Cruz, CA 95060
      View Details
    • $4,500/Mo

      High Visibility Retail Location

      Retail space with high visibility and traffic in Santa Cruz.
      805 Ocean St 815, Santa Cruz, CA 95060
      View Details
    • $2,668/Mo
      2,668 SF

      Santa Cruz Office Space Available

      Office space available for rent in Santa Cruz, CA.
      133 Mission St, Suite 210, Santa Cruz, CA 95060
      View Details
    • $3,700/Mo
      2,640 SF

      Live Oak Warehouse Space Available

      2640 SF warehouse in Live Oak for lease.
      1555 Mansfield St, Santa Cruz, CA 95062
      View Details
    • $15 SF/Yr
      3,500 SF

      Downtown Retail Space Available

      Retail space in a vibrant downtown location on Pacific Avenue.
      1115-1117 Pacific Ave, Santa Cruz, CA
      View Details
    • $1.25 SF/Yr
      965 SF

      Retail Space in New Complex

      Retail storefronts in a high-traffic, walkable Santa Cruz location.
      350 Ocean St, Santa Cruz, CA
      View Details
    • $1,852/Mo
      805 SF

      Santa Cruz Office Space Available

      Office space for rent in a desirable Santa Cruz location.
      700-704 Soquel Ave, Santa Cruz, CA
      View Details
    • $1.40 SF/Yr
      1,976 SF

      Santa Cruz Office Space Available

      Office space for rent in a desirable Santa Cruz location.
      207 McPherson St, Santa Cruz, CA
      View Details
    • $1.50 SF/Yr
      2,100 SF

      Live Oak Commercial Office Space

      2,100 SF office space in residential Live Oak.
      2215 7th Ave, Santa Cruz, CA
      View Details
    • $1.70 SF/Yr
      4,430 SF

      Ground Floor Commercial Space Available

      Commercial space for lease, formerly a bank, with ample parking.
      3001 Thurber Ln, Santa Cruz, CA
      View Details
    • $33 SF/Yr
      1,266 SF

      Retail Space on Pacific Avenue

      Retail space available on busy corner with excellent visibility.
      1010 Pacific Ave, Santa Cruz, CA
      View Details
    • $29 SF/Yr
      1,350 SF

      Retail Space on Soquel Avenue

      Retail space with high visibility on a busy corner.
      1822 Soquel Ave, Santa Cruz, CA
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - Versatile restaurant space with patio in historic Santa Cruz location.
    Where is this conventional restaurant located?
    The property is located at 555 Soquel Ave Santa Cruz, CA.
    What is the lease rate?
    The lease rate is $24 SF/Yr.
    What are key features of this property?
    This property features: Over 4,000 square feet of versatile commercial space.; Spacious outdoor patio.; Ample parking available.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Nick Pavlina
    Real Estate License ID: 02226853
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    555 Soquel Ave, Santa Cruz, CA 95062
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!