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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    407 Main St Watsonville, CA 95076-4603

    • Investment properties
    • 75,348 SF
    • 0.90 lot acres
    OFF-MARKET
    Value Estimations
    $17,615,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3634100
    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.

    Current Use by Public Records

    • Carlos Garcia Photography and Video / Wedding Photographer / Video Production Service
    • navigator watsonville / School
    • Watsonville Prep School / Charter School

    Property Details for 407 Main St

    Year built
    1992
    Construction
    WOOD
    Lot size
    0.90 lot acres
    Property size
    75,348 SF
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    017-641-14
    APU
    1764114

    Description

    Hansen Towne Center, located at 407 Main St, Watsonville, CA 95076, presents a unique opportunity for retail businesses seeking space in Santa Cruz County. This established commercial property offers a total of 39,618 square feet of retail space, currently featuring three available suites. The flexible layout allows for various configurations, with a minimum divisible space of 812 square feet and a maximum contiguous space of 37,750 square feet, catering to businesses of all sizes. Currently, 39,627 square feet are vacant, providing ample opportunity for expansion or multiple tenants. The property boasts 300 parking spaces, ensuring convenient access for customers and employees. Its prime location on Main Street in Watsonville offers excellent visibility and accessibility, making it an ideal location for businesses seeking high foot traffic and strong community engagement. The property is classified as a multi-tenant retail space and is ready for immediate occupancy. This is an exceptional opportunity to establish or expand your retail presence in a thriving California market. Inquire today to learn more about leasing options and explore the potential of this exceptional retail space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $22,188,000
      Market price range: $22.2M - $67.6M

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

    Location Insight

    • Map
    • Local Demand
    City
    Watsonville
    County
    Santa Cruz
    State
    California
    Longitude
    -121.758
    Latitude
    36.9103
    CBSA code
    42100
    CBSA name
    SANTA CRUZ-WATSONVILLE, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $89,862
    $1,659,720
    $5,599,899
    $7,259,619
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.57 Acres

      11 Alexander St Ste B

      STORE/OFFICE (MIXED USE) • 0.57 Acres
      11 Alexander St Ste B, Watsonville, CA 95076-4626
      View Details
    • Value Estimation by Request
      0.40 Acres

      319 Main St

      STORE/OFFICE (MIXED USE) • 0.40 Acres
      319 Main St, Watsonville, CA 95076-4601
      View Details
    • Value Estimation by Request
      0.34 Acres

      28 2nd St, Unit 206

      STORE/OFFICE (MIXED USE) • 0.34 Acres
      28 2nd St, Watsonville, CA 95076-4965
      View Details
    • Value Estimation by Request
      600 SF

      1201 Lincoln St Sta, Unit A

      STORE/OFFICE (MIXED USE) • 600 SF
      1201 Lincoln St Sta, Watsonville, CA 95076-3207
      View Details
    • Value Estimation
      $1,195,000
      4,777 SF

      21 Brennan St Ste, Unit 14

      STORE/OFFICE (MIXED USE) • 4,777 SF
      21 Brennan St Ste, Watsonville, CA 95076-4337
      View Details
    • Value Estimation
      $3,540,000
      7,608 SF

      999 Main St, Unit B

      STORE/OFFICE (MIXED USE) • 7,608 SF
      999 Main St, Watsonville, CA 95076-3851
      View Details

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    Similar Nearby for Lease

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      Retail Space in Desirable Location

      Retail space with ample parking and close to amenities.
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    • Contact for pricing
      37,750 SF

      Retail Space in Downtown Watsonville

      Retail space available in downtown Watsonville with ample parking.
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      Retail Spaces Available in Watsonville

      Four second-generation retail spaces available in Watsonville Square.
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      View Details
    • $12 SF/Yr

      Watsonville Warehouse Space Available

      Warehouse/distribution space available for lease in Watsonville, California.
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      View Details
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    407 Main St
    Watsonville, CA 95076-4603
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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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