229 Encinal St Santa Cruz, CA 95060
- Industrial properties
- 8,300 SF
Current Use by Public Records
- Industrial properties
Property Details for 229 Encinal St
- Year built
- 2008
- Property size
- 8,300 SF
- Property type
- Industrial properties
Description
This 8,300 square foot industrial building in Santa Cruz, CA, presents a rare owner-user or investment opportunity. Located in the desirable Harvey West area near Costco, this 2008-built property (with 2010 renovations) sits on a 10,585 square foot lot and boasts 28-foot ceilings. The building features five 22' x 48' bays on the ground floor and an additional approximately 3,000 square feet of unpermitted second-floor space. Currently occupied by four tenants, generating a Net Operating Income (NOI) of $117,989.53 and a pro-forma cap rate of 5.90%, this property offers significant potential. The building's design allows for drive-through access between Encinal and Fern Streets, providing multiple access points. Its location offers easy access to Highways 1, 9, and 17. The property is zoned IG - General Industrial District and has an APN of 001-045-28. The asking price is $2,000,000. Santa Cruz's strong demographics, with a population of approximately 61,800 and an average household income of $148,404, further enhance the investment potential. The current owners occupy approximately 3,000 square feet of ground floor space, which could be used by a new owner or leased. This versatile property is well-suited for a variety of uses. While the second floor was approved by the fire marshal and is annually inspected, it was not permitted through the city of Santa Cruz during its 2010 installation.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Santa Cruz
- County
- Santa Cruz
- State
- California
- Longitude
- -122.034
- Latitude
- 36.9864
