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    448 Granite Way Aptos, CA 95003
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    Property profile & analytics

    448 Granite Way, Aptos, CA 95003

    View on Map
    • Industrial land
    • 1,320 SF
    • 1.09 lot acres
    Off-Market
    Property ID
    US09-0086035
    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

    • Aptos Village / Shopping Center & Mall

    Property Details for 448 Granite Way

    Year built
    1926
    Lot size
    1.09 lot acres
    Zone code
    RM-2
    Property type
    Industrial land
    APN
    041-011-03
    APU
    4101103

    Description

    This exceptional retail opportunity presents 13,931 square feet of space within the highly anticipated Aptos Village development in Aptos, California. Located at 448 Granite Way, 95003, this strip center sits on an expansive 11.5-acre lot and offers multiple tenancy options. Currently, there are three available spaces ranging from 1,784 to 4,714 contiguous square feet, ideal for a variety of retail businesses. The development features eight buildings in total, providing ample space for a thriving retail community. The Aptos Village is strategically positioned on Soquel Drive, offering excellent visibility and accessibility. This revitalized center will serve as a vibrant community hub, anchored by a significant New Leaf Market and complemented by upscale residential units and executive office suites, creating a high-traffic environment. The development's design incorporates a central Village Green, enhancing the overall appeal and creating a welcoming atmosphere for shoppers and residents alike. This is a unique chance to establish a presence in a thriving coastal community with strong growth potential. The property is located in Santa Clara County, California, offering easy access to major transportation routes and a desirable demographic. Don't miss this opportunity to be part of the Aptos Village's exciting future.

    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
    Aptos
    County
    Santa Cruz
    State
    California
    Longitude
    -121.9
    Latitude
    36.9788
    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
    2015
    $27,820
    $2,508,243
    $0.00
    $2,508,243
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      $515,000
      23.93 Acres

      5035 Freedom Blvd

      QUARRIES (SAND, GRAVEL, ROCK)
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    • Value Estimation by Request
      0.06 Acres

      Aptos, CA 95003

      VACANT COMMERCIAL LAND
      Aptos, CA 95003
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    • Value Estimation by Request
      0.06 Acres

      9535 Soquel Dr

      VACANT COMMERCIAL LAND
      9535 Soquel Dr, Aptos, CA 95003-4134
      View Details
    • Value Estimation by Request
      0.28 Acres

      Aptos, CA 95003

      VACANT COMMERCIAL LAND
      Aptos, CA 95003
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    • Value Estimation
      $2,900,000
      0.03 Acres

      131 Esplanade

      VACANT COMMERCIAL LAND
      131 Esplanade, Aptos, CA 95003-4501
      View Details

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    Similar Nearby for Lease

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      1,100 SF

      Aptos Office Space Available

      Office space featuring a reception area, kitchenette, and conference room.
      7010 Soquel Dr, Aptos, CA 95003
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    • $995,000

      Aptos Office Investment Opportunity

      Office building in thriving Aptos, California, near Highway 1.
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      Aptos Office Investment Opportunity

      Office space in a desirable coastal community, Aptos, California.
      9509 Soquel Dr, Aptos, CA 95003
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      3,500 SF

      Aptos Former Bank Space

      Approximately 3,500 SF space with mezzanine office for rent.
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      1,040 SF

      Aptos Office Space Available

      Well-maintained Aptos office space available for rent April 1, 2026.
      9055 Soquel Dr, Aptos, CA 95003
      View Details
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    448 Granite Way
    Aptos, CA 95003
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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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