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    125 Pearl Aly Santa Cruz, CA 95060

    Sponsored
    For Sale
    $4,975,000

    Prime Downtown Santa Cruz storefront, high NOI.

    Property size:
    17,319 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    The Eulensen Building, located at 125 Walnut Ave & 130 Pearl Alley in Santa Cruz, CA 95060, presents a compelling investment opportunity. This two-story, 17,319 square foot retail storefront building boasts 13 tenants and is currently 97% leased, generating a strong net operating income (NOI) of $255,000, representing a 5.13% cap rate and a pro-forma cap rate of 5.49%. Built in 1939 and renovated in 2006, the property sits on a 13,983 square foot lot and is zoned for Central Business District (CBD) use. The asking price is $4,975,000, translating to a price per square foot of $287.26. The property benefits from its location within a dense retail area, adjacent to significant mixed-use redevelopment projects, and close to ample downtown parking. The building offers immediate stable cash flow with significant value-add potential, particularly given the ongoing growth of Downtown Santa Cruz. Several large-scale multifamily and hotel developments are underway or planned, further enhancing the area's appeal. The planned development of a Santa Cruz Warriors arena in the nearby South of Laurel District will also contribute to the area's vibrancy. The property's location in Downtown Santa Cruz, where few properties trade annually, makes this a rare and attractive investment opportunity. The property's APN is 005-075-07 & 08. The lease type is NNN (Triple Net).

    Property Features for 125 Pearl Aly

    General Information

    Property type
    Individual retail properties
    Square Feet
    17,319 SF

    Building Details

    Year Built/Renovated
    1939/2006
    Buildings
    1
    Stories
    2
    Units
    13

    HighLights

    • Prime Santa Cruz retail investment opportunity: 17,319 SF, two‑story building at 125 Walnut Ave & 130 Pearl Alley.
    • 97% leased with 13 tenants, generating $255,000 NOI, 5.13% cap rate (5.49% pro‑forma).
    • $4,975,000 asking price ($287.26/SF) on a 13,983 SF lot in the Central Business District (CBD).
    • NNN leases, built in 1939, renovated in 2006, APN 005‑075‑07 & 08.
    • Strong value‑add potential in a rapidly growing downtown area with nearby mixed‑use development and planned arena.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

    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
    -122.0273979
    Latitude
    36.9734414

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    FAQs

    What type of property is this?
    Individual retail property - Prime Downtown Santa Cruz storefront, high NOI.
    Where is this individual retail property located?
    The property is located at 125 Pearl Aly Santa Cruz, CA.
    What is the asking price?
    The asking price for this property is $4,975,000.
    What are key features of this property?
    This property features: Prime Santa Cruz retail investment opportunity: 17,319 SF, two-story building at 125 Walnut Ave & 130 Pearl Alley.; 97% leased with 13 tenants, generating $255,000 NOI, 5.13% cap rate (5.49% pro-forma).; $4,975,000 asking price ($287.26/SF) on a 13,983 SF lot in the Central Business District (CBD).
    Request Owner's contact information
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    Santa Cruz, CA 95060
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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
    125 Pearl Aly Santa Cruz, CA 95060
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