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Multi-Tenant Commercial Building 5900 Butler Lane

Scotts Valley, CA 95066

Price: $4,000,000 In Place Cap Rate: 7.43% Proforma Cap Rate: 8.78%

This Offering Memorandum has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a pre-liminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Ow Properties/Ow Commercial has not made any investigation, and makes no warranty or representation. The information contained in this Offering Memorandum has been obtained from sources we believe to be reliable; however, Ow Properties/Ow Commercial has not verified, and will not verify, any of the information contained herein, nor has Ow Properties/Ow Commercial conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.

For More Information Please Contact: William Ow | (831) 247-5550 | [email protected] Benjamin Ow | (831) 247-1175 | [email protected]

AVAILABLE FOR SALE

Ow Properties/Ow Commercial is pleased to present an exclusively listed multi tenant R&D building in Scotts Valley, CA. The property has a diverse mix of seasoned tenants with varying lease terms; the asset offers investors the rare opportunity to acquire a quality, stabilized asset in Santa Cruz County with an attractive existing cap rate and even greater upside potential through the lease-up of the one semi-occupied suite in the building.

INVESTMENT HIGHLIGHTS

Santa Cruz County Investment Opportunity - Rare opportunity for investors to acquire an attractive, multi-tenant investment property in Santa Cruz County with an attractive in-place return.

New Roof - New Metacrylics roof (9/2017) with a 20 year NDL material and labor warranty.

Upside Potential – The investment provides investors with significant upside potential through the lease-up of the one vacant space in the building.

Remaining Lease Term - The leases in place offer investors a stable, seasoned, in-place Income stream.

Rent Increases - Most leases are structured with annual rent increases that offer an excellent hedge against inflation.

Attractive Cap Rate – The property is listed at a 7.43% cap rate with the ability to increase the cap rate to nearly 9% by leasing the one vacant space in the building.

Priced Well Below Replacement Cost - At only $113/sf

Convenient Access – The property is easily accessible to Highway 17 and within close prox-imity to Scotts Valley Drive.

Amenities - The property is within walking distance from numerous retail amenities along Scotts Valley Drive and nearby shopping centers.

Demographics – Scotts Valley is an affluent community that boasts an estimated median household income of $101,837 and an estimated population of 11,858.


INVESTMENT SUMMARY


PROPERTY SUMMARY

Purchase Price: $4,000,000

In Place Cap Rate:

Proforma Cap Rate:

7.43%

8.78%

Building Square Footage 35,321

Year Built: 1988

Lot Size: 2.33 Acres

Parking: 80 spaces

APN: 022-042-30

Type of Ownership: Fee Simple

Price Per Square Foot: $113


IN PLACE AND PROFORMA INCOME AND EXPENSE SUMMARY

In Place Rent Roll and Estimated Expenses Based on Historical Operating History

Proforma Rent Roll Assuming Lease-up of Former Satellite Space at $1.30/sf/mo


PRIMARY TENANT INFORMATION

SMP Technology Inc., a privately held corporation, designs and manufac-tures interconnection devices, power supplies and cable assemblies through partnership agreements with other OEMs. SMP also offers fre-quency control, and thermal management products. Headquartered in Scotts Valley, CA, SMP has been providing cost-effective solutions to standard and custom requirements to the computer, military and telecom-munications markets since 1992. SMP’s mission is to enhance its custom-ers competitive position and time to market by providing solutions to their electronic packaging needs easily, quickly and economically. Founded in 2000, Areias delivers complete end-to-end design/engineering, manufacturing and prototyping solutions to technology companies around the world. Areias Systems is a contract manufacturer with a mission of providing its customers with unsurpassed service and quality. Areias’ main talent is to design and build complex control panels while also offering pro-graming of automation and controls. Areias is certified as a UL508a Panel shop, organized as an ISO 9001 company, part of the Control Systems In-tegrators Association (CSiA), and a listed System Integrator for Phoenix Contacts. Exceedio is a full service IT provider that has been helping businesses bridge the technology gap by cost-efficiently taking on IT services and sup-port for the past 14 years. Exceedio is a leader in IT infrastructure and re-mote application services. Exceedio offers its clients the highest level of IT asset management and support. Exceedio’s core partners, Cisco, Dell, Mi-crosoft, and Citrix, have enabled Exceedio to offer the latest cloud based technologies which increase productivity and reduce the total cost of IT management.

For More Information Please Contact:

William Ow | (831) 247-5550 | [email protected]

Benjamin Ow | (831) 247-1175 | [email protected]

Property Photos




Floor Plans

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Site Map




Aerial Photo

5900 Butler Lane is well located within walking distance from numerous amenities and within very close proximity to Highway 17.




Map

5900 Butler Lane enjoys an excellent location in Scotts Valley, California. Scotts Valley is a mere 25 miles away from San Jose and it benefits from positive economic growth within Santa Cruz County as well as the explosive growth of the Silicon Valley.




Area Profile

Scotts Valley is a thriving community that enjoys a booming high tech industry, excellent schools, and lovely residential neighborhoods. Scotts Valley offers residents a family friendly environment that is a great place to live and work. Scotts Valley is unrivaled in its ability to balance industry and community, education and experience, and improvement and beauty; it provides an optimal environment for residents to thrive in their work and in their lives. Scotts Valley is situated in northern Santa Cruz County, just a short distance from Monterey Bay and nestled in the redwoods of the upland slope of the Santa Cruz Mountains. It is approximately six miles north of Santa Cruz, 25 miles southwest of San Jose, and 68 miles south of San Fran-cisco.

Scotts Valley had an estimated population of 11,858 in 2014 and boasted an estimated median household income of $101,837.

Santa Cruz County is known for its natural outdoor beauty, well educated and diverse population, vibrant arts and sports scene, academic institutions, and interconnected network of tourism, edu-cation, agriculture, research, and technology. Scotts Valley, Capitola, Santa Cruz, Watsonville, and unincorporated land make up Santa Cruz County. Santa Cruz County benefits from a tem-perate coastal climate and easy access to multiple major airports: San Jose International (30 miles), San Francisco International (62 miles), Oakland International (60 miles), Monterey Penin-sula Airport (43 miles), and Watsonville Municipal Airport (14 miles).

Santa Cruz County had an estimated population of 271,804 in 2014 and its median household in-come was estimated to be $66,519.

available for sale - loopnet€¦ · santa cruz county investment opportunity - rare opportunity...

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