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    Freedom Blvd. & Airport Blvd Freedom, CA 95019

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    Freedom Blvd. & Airport Blvd Freedom, CA 95019

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    • Retail properties & Spaces
    • 151,365 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

    Property Details for 0 Freedom Blvd. & Airport Blvd

    Property size
    151,365 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Retail space

    Description

    Freedom Centre, a prominent Santa Cruz County retail property, offers exceptional opportunities for businesses seeking high-visibility locations. Situated at the intersection of Freedom Boulevard and Airport Boulevard in Watsonville, this center benefits from significant traffic flow due to its proximity to Highway 101, Watsonville Airport, and Watsonville Community Medical Center. The 151,365 square foot center boasts 622 parking spaces, ensuring ample convenience for customers. Currently, there are four suites available, ranging from a minimum of 1,000 square feet to a maximum contiguous space of 34,169 square feet. A total of 37,629 square feet is currently vacant, presenting a unique chance for expansion or new tenancy. The center is anchored by a Safeway, further enhancing its appeal and drawing significant foot traffic. Its location is approximately 1.5 miles from historic downtown Watsonville, providing access to a diverse customer base. This prime retail space offers an unparalleled opportunity to establish or expand a business within a thriving community. The property is categorized as Retail Inline and Commercial, suitable for a variety of retail uses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Freedom
    County
    Santa Cruz
    State
    California
    Longitude
    -121.775
    Latitude
    36.9388

    Comparable in this City

    • Value Estimation
      $1,165,000
      2,849 SF

      1803 Freedom Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,849 SF
      1803 Freedom Blvd, Freedom, CA 95019-3019
      View Details
    • Value Estimation
      $3,265,000
      11,970 SF

      1626 Freedom Blvd

      RETAIL STORES (PERSONAL SERVICES) • 11,970 SF
      1626 Freedom Blvd, Freedom, CA 95019-3007
      View Details
    • Value Estimation by Request
      0.43 Acres

      1823 Freedom Blvd

      RETAIL STORES (PERSONAL SERVICES) • 0.43 Acres
      1823 Freedom Blvd, Freedom, CA 95019-3019
      View Details
    • Value Estimation by Request
      952 SF

      2003 Freedom Blvd

      RETAIL STORES (PERSONAL SERVICES) • 952 SF
      2003 Freedom Blvd, Freedom, CA 95019-2811
      View Details
    • Value Estimation
      $6,540,000
      27,702 SF

      1810 Freedom Blvd

      RETAIL STORES (PERSONAL SERVICES) • 27,702 SF
      1810 Freedom Blvd, Freedom, CA 95019-3000
      View Details
    • Value Estimation by Request
      2,650 SF

      1811 Freedom Blvd

      RETAIL STORES (PERSONAL SERVICES) • 2,650 SF
      1811 Freedom Blvd, Freedom, CA 95019-3019
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      8,697 SF

      Retail Storefront Building For Sale

      Two-unit retail building with 8,697 square feet of space.
      1715 Freedom Blvd, Freedom, CA 95019
      View Details
    • Contact for pricing
      0.02 Acres

      Freedom Blvd Hair Salon Business

      Profitable Hair Salon, Established Clientele
      1968 Freedom Blvd, Freedom, CA 95019
      View Details
    • Contact for pricing
      800 SF

      Freedom Blvd Hair Salon Opportunity

      Profitable Hair Salon, High Traffic Location
      Freedom Blvd, Freedom, CA 95019
      View Details
    • $795,000
      1,276 SF

      Duplex in Peaceful Freedom Setting

      Unique duplex in Freedom with gardening potential.
      9 Memorial Ave, Freedom, CA 95019
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,000 SF

      Retail Space in Freedom Centre

      Retail space for lease in a high-traffic shopping center.
      2022 Freedom Blvd, Freedom, CA 95019
      View Details
    • Contact for pricing
      1,200 SF

      Retail Space in Freedom Centre

      Retail space available in a high-traffic Watsonville shopping center.
      1998-2010 Freedom Blvd, Freedom, CA 95019
      View Details
    • Contact for pricing
      34,169 SF

      Retail Space in Freedom Centre

      Retail space available in high-traffic Watsonville shopping center.
      1980-1986 Freedom Blvd, Freedom, CA 95019
      View Details
    • $0.35 SF/Yr
      2,400 SF

      Warehouse Space Near Shopping Center

      Multi-use commercial space with warehouse, office, and residential options.
      80 Airport Blvd, Freedom, CA 95019
      View Details
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    Freedom, CA 95019
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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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