Property profile

40 Penny Ln 8 Watsonville, CA 95076

OFF-MARKET
Office buildings
Property ID
US09-0872767
2,338 SF 1.52 ac lot Built 1986
Individually Owned 21-yr Hold Absentee Owner Free & Clear
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Property summary

AI-generated overview

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.

Property profile

Verified
Property type Office buildings
Use group OFFICE BUILDING
Year built 1986
Construction WOOD
Total area 2,338 SF
Lot 1.52 ac (66,211 SF)
APN 015-171-01
UPID US09-0872767

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Employment Agency
  • Medical Clinic
  • Dental Office
  • Alternative Medicine Practice
  • Dental Office

Location

40 Penny Ln, Unit 8 Watsonville, CA 95076-6008
Watsonville metro Census 110601 SANTA CRUZ-WATSONVILLE, CA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$945k
Comparable Approach Comparable
$603k
Blend (final) Blend
$900k

Owner & transaction history

since 2005
7 recorded transactions
2024
Price N/A
2005
Price N/A
2003
Price N/A
2002
Price N/A
2000
Price N/A
2000
Price N/A
1999
Price N/A

Zoning & alternative use

Top alternative use upside
Commercial (general) $1.5M +47.8%
Retail stores $1.3M +26.4%
Medical building $1.2M +22.5%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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