Multi-Tenant Office Investment

4736–4740 Scotts Valley Drive, Scotts Valley, California 95066

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For Sale:

$3,210,000

Broker details :

Jonathan G Hanhan

Group Lead & EVP

Lic. No. 01800203

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For Sale:

$3,210,000

Type:

Office

Sub Type:

Office, Medical, Retail

Size:

9,485 SqFt

$/SqFt:

$338.43

Lot Size:

28,227 SqFt

Year Built:

1975

Zoning:

Service Commercial (C-S)

Stories:

Units:

3 Buildings (9 Suites)

Investment Type:

Owner-User or Investor

CAP Rate:

NOI:

$192,593.84

Occupancy:

100% Leased

Parking Stalls:

Prime Retail/Office Opportunity

HCG is pleased to present this fully leased, 9,485 SF multi-tenant office asset spanning three buildings in Scotts Valley, CA. Ideally positioned between Santa Cruz and Los Gatos, the property benefits from a growing market with limited buildable land and approximately 1,200 new housing units planned by 2028.
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With a potential second-floor residential conversion under existing zoning, and a seller leaseback opportunity at market rates, the property offers multiple avenues for future value creation.

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Property Highlights

Stabilized, 100% Leased – Nine suites across three buildings, zero vacancy.
Basement Storage Upside – ±2,213.89 SF unfinished space beneath Bldg. 4736, ready to build out.
Owner-Occupancy Opportunity – Leases have terminations and buyer can occupy space.
Diversified Rent Roll – Dental, medical/wellness, personal services, and light professional/industrial tenants.
Vanishing Competing Supply – Nearby corridor office buildings demolished for housing, tightening the market.
Flexible C-S Zoning – Permits a broad mix of retail, office, medical, and service uses by right.
Population Wave Incoming – 1,200+ new housing units mandated citywide, arriving 2027-2028.
Sale-Leaseback Available – Seller will consider a 2-year leaseback on Suite 4736-C at full market rent.
Recent Capital Program – New roof, HVAC, signage, and suite renovations completed 2022-2024.
Residential Conversion Optionality – Zoning permits 2nd-story residential conversion by conditional use permit.