325 Westridge Dr Watsonville, CA 95076

Property Details for 325 Westridge Dr

Lot size

1.15 lot acres

Property type

Commercial real estate

APN

018-431-04

APU

1843104

Description

This exceptional investment opportunity presents a fully improved, single-story, Class A office building totaling 36,635 square feet. Located in Watsonville, CA's prestigious Westridge Business Park, this property boasts a prime location with easy access to Highways 1, 129, and 152. The building, constructed with an attractive tan-colored exposed aggregate finish and significant glass lines, is situated within a beautifully landscaped setting. Currently 100% leased to Driscoll's Inc. as their corporate headquarters since 1994, the lease has 5.5 years remaining (expiring 05/30/2030) with annual 3% rent bumps. The property offers a strong Net Operating Income (NOI) of $695,977, resulting in a compelling 6.90% capitalization rate. The asking price is $10,130,000, translating to $276 per square foot. This is a rare chance to acquire a highly sought-after asset in a thriving Santa Cruz County office market, presenting significant upside potential. The property features a triple net (NNN) lease structure. The building is one story and comprises one unit. Nearby businesses include DHL, Sierra Thermal Systems, Inc., California Strawberry Commission, California Giant, Gold's Gym, and the County of Santa Cruz. This is a truly remarkable investment opportunity.