1214 Soquel Ave Santa Cruz, CA 95062-2108
- Retail space
- 29,192 SF
- 1.42 lot acres
Current Use by Public Records
- Resharp / Sharpening Service
- Santa Cruz Ace Hardware / Hardware Store / Home Improvement Store
- KeyExpress Locksmiths / Key Duplication Service / Locksmith
Property Details for 1214 Soquel Ave
- Year built
- 1954
- Construction
- WOOD
- Lot size
- 1.42 lot acres
- Property size
- 29,192 SF
- Property type
- Retail space
- APN
- 011-012-15
- APU
- 1101215
Description
Seabright Plaza Shopping Center, located at 1214 Soquel Ave, Santa Cruz, CA 95062, presents a unique investment opportunity. This 28,392 square foot retail center boasts a 4.90% cap rate and a strong net operating income (NOI) of $511,954.99. Currently 100% occupied by 13 tenants under NNN leases, the property offers dependable cash flow with significant upside potential. Built in 1954 and situated on a 1.42-acre lot, the center features 60 parking spaces and is zoned for Community Commercial use. Its prime location in Santa Cruz's East Side Business District, at the intersection of Soquel and Seabright Avenues, provides excellent visibility and accessibility. The center is anchored by a well-established Ace Hardware and benefits from its proximity to numerous other national and local businesses, including Whole Foods, Rite Aid, and Safeway. The property's strong tenant mix caters to the daily needs, personal services, and dining preferences of the densely populated Seabright neighborhood. With many long-term tenants and below-market rents, this asset offers substantial value-add opportunities and potential for future redevelopment. The asking price is $10,800,000. The property's APN is 011-012-15. This is a rare opportunity to acquire a well-established, high-performing retail center in a desirable location.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $105,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $90,000
- 6.5%
- $95,000
- 7%
- $90,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $80,000
- Geo Method
- $80,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $105,000
- Retail
- $110,000
- Mixed-Use
- $115,000
- Hospitality
- $85,000
- Educational
- $110,000
- Residential Income
- $110,000
- Energy
- $110,000
- Income-Based Land
- $105,000
- Food Service
- $90,000
Location Insight
- Map
- Local Demand
- City
- Santa Cruz
- County
- Santa Cruz
- State
- California
- Longitude
- -122.01
- Latitude
- 36.9796
- CBSA code
- 42100
- CBSA name
- SANTA CRUZ-WATSONVILLE, CA METROPOLITAN STATISTICAL AREA
