Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    111 Errett Lot 8 Cir Scotts Valley, CA 95066
    Back to Search
    Property profile & analytics

    111 Errett Lot 8 Cir, Scotts Valley, CA 95066

    View on Map
    • Land
    • 0.12 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 111 Errett Lot 8 Cir

    Lot size
    0.12 lot acres
    Property type
    Land

    Description

    This exceptional 0.115-acre commercial lot, located at 111 Errett Circle (Lot 8) in Scotts Valley, CA 95066, presents a unique development opportunity within the innovative Circle of Friends co-housing community. Priced at $1,400,000 ($280/sq ft), this R1-zoned property offers two parking spaces and is ready for immediate construction. Extensive pre-development work has already been completed, including a finalized civil plan, geotechnical report, historical evaluation, CEQA exemption, traffic plan, site plan, arborist report, landscape plan, and peer review. The previous structure has been demolished, and temporary power is available on-site. All disclosures are publicly accessible through the City of Santa Cruz Planning website. This lot is part of a ten-lot development featuring shared community spaces and an 8,000 sq ft open area. The community emphasizes sustainability and connection, offering a unique lifestyle opportunity just three blocks from Westcliff and the beach. Financing options include cash or conventional loans, with possession terms negotiable. This is an exceptional chance to build a custom home within a thriving, environmentally conscious community. The approximate lot size is 5,000 square feet.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Scotts Valley
    County
    Santa Cruz
    State
    California
    Longitude
    -122.016
    Latitude
    37.0703

    Comparable in this City

    • Value Estimation by Request
      3.12 Acres

      Harmon Gulch

      Land
      0 Harmon Gulch, Scotts Valley, CA 95066
      View Details
    • Value Estimation
      $1,375,000
      4,587 SF

      4955 Scotts Vly Dr

      SHOW ROOM, WAREHOUSE
      4955 Scotts Vly Dr, Scotts Valley, CA 95066
      View Details
    • Value Estimation
      $1,245,000
      0.49 Acres

      69 Mt Hermon Rd

      COMMERCIAL (GENERAL)
      69 Mt Hermon Rd, Scotts Valley, CA 95066-4738
      View Details
    • Value Estimation
      $12,665,000
      8.73 Acres

      440 Kings Vlg Rd

      COMMERCIAL (GENERAL)
      440 Kings Vlg Rd, Scotts Valley, CA 95066-4027
      View Details
    • Value Estimation
      $680,000
      1,394 SF

      917 Disc Dr Spc, Unit 108

      COMMERCIAL (GENERAL)
      917 Disc Dr Spc, Scotts Valley, CA 95066-4571
      View Details
    • Value Estimation by Request
      8.49 Acres

      Scotts Valley, CA 95066

      COMMERCIAL (GENERAL)
      Scotts Valley, CA 95066
      View Details

    Similar Nearby for Sale

    • $1,450,000
      6.17 Acres

      Land with Ocean Views

      6+ acre parcel near Scotts Valley with approved permits.
      Chelsey Pl, Scotts Valley, CA 95066
      View Details
    • $690,000
      0.76 Acres

      Residential Development Opportunity in Scotts Valley

      Residential land for development near schools in Scotts Valley.
      Vine Hill School Rd, Scotts Valley, CA 95066
      View Details
    • $599,000
      2.13 Acres

      Land in Apple Valley Area

      Two-acre land parcel in Scotts Valley with utilities in place.
      Address Not Disclosed, Scotts Valley, CA 95066
      View Details
    • New
      $1,850,000
      3,264 SF

      Fully Leased Fourplex Opportunity

      Well-maintained, fully leased fourplex with updated two-bedroom units, onsite laundry, covered parking, and private outdoor space.
      192 Bean Creek Rd, Scotts Valley, CA 95066
      View Details
    • Contact for pricing
      2,392 SF

      Mixed-Use Property on Scotts Valley Drive

      Commercial and residential property with retail and daycare tenants.
      5272 Scotts Valley Dr, Scotts Valley, CA 95066
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      400 SF

      Professional Office Space Available

      Well-maintained office building with separately metered suites for rent.
      5321 Scotts Valley Dr, Scotts Valley, CA 95066
      View Details
    • Contact for pricing
      11,999 SF

      Class A+ Office Space Available

      High-quality office space with amenities in Scotts Valley, CA.
      100 Enterprise Way, Scotts Valley, CA 95066
      View Details
    • Contact for pricing
      55,320 SF

      Class A Office Building Available

      Two-story Class A office building with ample parking.
      7 Victor Sq, Scotts Valley, CA 95066
      View Details
    • Contact for pricing
      2,990 SF

      Retail Space in Scotts Valley

      Retail space available for lease in Scotts Valley, CA.
      260-266 Mount Hermon Rd, Scotts Valley, CA 95066
      View Details
    • $15 SF/Yr
      14,900 SF

      High-Bay Flex Space, Santa Cruz

      Rare R&D/Warehouse/Flex Space, Mt Hermon Rd
      103 Whispering Pne Dr, Scotts Valley, CA 95066
      View Details
    • Contact for pricing
      4,517 SF

      Office Space in Scotts Valley

      Ground floor office space with extensive glass line and free parking.
      5615-5619 Scotts Valley Dr, Scotts Valley, CA 95066
      View Details
    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.
    111 Errett Lot 8 Cir
    Scotts Valley, CA 95066
    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
    111 Errett Lot 8 Cir, Scotts Valley, CA, 95066
    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!