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    311 Ocean St Santa Cruz, CA 95060
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    Property profile & analytics

    311 Ocean St Santa Cruz, CA 95060

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    • Commercial real estate
    • 778 SF
    Off-Market
    Property ID
    US10-3305127
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Commercial real estate

    Property Details for 311 Ocean St

    Property size
    778 SF
    Property type
    Commercial real estate
    APN
    007-403-23;007-40-324;007-403-19-000;007-40-318

    Description

    This exceptional investment opportunity presents a fully leased apartment building located at 427 Barson St, Santa Cruz, CA 95060. The property boasts a strong 8.87% cap rate and a Net Operating Income (NOI) of $135,000, making it an attractive addition to any portfolio. The asking price is $4,850,000. The building comprises a mix of unit sizes, ranging from 778 to 1,542 square feet. Built between 1900 and 1974, the property sits on a 3,484 square foot lot and includes 10 parking spaces. The land value, based on price per square foot, ranges from $871 to $1,478. Multiple tax parcel numbers are associated with the property: 007-403-23

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Santa Cruz
    County
    Santa Cruz
    State
    California
    Longitude
    -122.0175808
    Latitude
    36.9713297

    Comparable in this City

    • New
      $1,895,000
      5,858 SF

      Permitted Student Housing Development Opportunity

      Permit-ready land for student housing project with approved plans.
      247 High St, Santa Cruz, CA 95060
      View Details
    • $3,200,000
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      Santa Cruz Multifamily Investment Opportunity

      Well-maintained 8-unit property near the beach in Santa Cruz.
      140 Bay St, Santa Cruz, CA 95060
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    • $1,895,000
      2,244 SF

      Santa Cruz Multifamily Investment Opportunity

      Five-unit apartment building near beach, wharf, and downtown.
      313 Raymond St, Santa Cruz, CA 95060
      View Details
    • $3,975,000

      UCSC Rental Investment Opportunity

      Four 4-bed/2-bath units near UCSC with strong income.
      817 California St, Santa Cruz, CA 95060
      View Details

    Similar Nearby for Sale

    • New
      $1,895,000
      5,858 SF

      Permitted Student Housing Development Opportunity

      Permit-ready land for student housing project with approved plans.
      247 High St, Santa Cruz, CA 95060
      View Details
    • $3,200,000
      5,309 SF

      Santa Cruz Multifamily Investment Opportunity

      Well-maintained 8-unit property near the beach in Santa Cruz.
      140 Bay St, Santa Cruz, CA 95060
      View Details
    • $1,895,000
      2,244 SF

      Santa Cruz Multifamily Investment Opportunity

      Five-unit apartment building near beach, wharf, and downtown.
      313 Raymond St, Santa Cruz, CA 95060
      View Details
    • $3,975,000

      UCSC Rental Investment Opportunity

      Four 4-bed/2-bath units near UCSC with strong income.
      817 California St, Santa Cruz, CA 95060
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,682 SF

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      Retail space available in mixed-use property with residential units.
      150 Chestnut St, Santa Cruz, CA 95060
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    • Contact for pricing
      1,920 SF

      Santa Cruz Retail Spaces Available

      Retail spaces available in premier Santa Cruz shopping center.
      849 Almar Ave, Santa Cruz, CA 95060
      View Details
    • $1.25 SF/Yr
      965 SF

      Retail Space in New Complex

      Retail storefronts in a high-traffic, walkable Santa Cruz location.
      350 Ocean St, Santa Cruz, CA 95060
      View Details
    • Contact for pricing
      11,077 SF

      Prime Retail Space in Santa Cruz

      Historic building with ample parking in a central location.
      1132-1134 Pacific Ave, Santa Cruz, CA 95060
      View Details
    • Contact for pricing
      1,266 SF

      Retail Space on Pacific Avenue

      Retail space available on busy corner with excellent visibility.
      1010 Pacific Ave, Santa Cruz, CA 95060
      View Details
    • Contact for pricing

      Santa Cruz Mixed-Use Leasing Opportunity

      Dynamic mixed-use campus with industrial, office, retail, and live/work spaces.
      303 Potrero St, Santa Cruz, CA 95060
      View Details
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    311 Ocean St
    Santa Cruz, CA 95060
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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.

    More about this property
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