40 Penny LnWatsonville, CA 95076

Property Details for 40 Penny Ln

Year built

1986

Construction

WOOD

Lot size

1.52 AC

Property size (Sq ft)

2,338 SF

Property type

Office properties

Property subtype

Office buildings

APN

015-171-01

APU

1517101

Description

This exceptional executive office space at 40 Penny Lane in Watsonville, CA, offers a unique opportunity for businesses seeking a prestigious and convenient location. The property, a two-story Class B building totaling 22,800 square feet, underwent complete renovations in 2024, boasting a fresh and modern interior and exterior. Situated on a 1.43-acre lot at the highly visible corner of Green Valley Road and Loma Prieta Avenue, the building benefits from excellent visibility and accessibility. The building features one suite, currently offering multiple tenancies, and includes a passenger elevator for ADA accessibility. With 75 total parking spaces, ample parking is readily available for tenants and their clients. The property's convenient location offers easy access to a variety of amenities, including restaurants, shops, a gym, and public transportation, all within walking distance. The building provides 24-hour access, HVAC systems, and prominent monument and directory signage. The property is zoned for commercial office use and has an APN of 015-171-01-000. Built in 1986, this renovated property offers a blend of classic charm and modern functionality, making it an ideal location for a variety of businesses. Currently, the building houses a diverse mix of tenants, including restaurant, dental, medical, and professional office spaces. This is a rare opportunity to secure office space in a highly desirable and well-maintained building in the heart of Watsonville. The zip code is 95076.

• CAP approach

  CAP return

  Valuation

  6%

  $700,136

  6.5%

  $646,279

  7%

  $600,116

• Comparable approach

  Method

  Valuation

  Relative Method

  $652,092

  Geo Method

  $652,092

• Alternative Use

  Use

  Valuation

  Residential

  $801,386

  Hospitality

  $734,066

  Educational

  $610,734

  Medical

  $631,738

  Retail

  $950,031

Location Insight

City

Watsonville

County

Santa Cruz

State

California

Latitude

36.9301

Longitude

-121.778

CBSA code

42100

CBSA name

SANTA CRUZ-WATSONVILLE, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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