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110 Cooper St
Santa Cruz, CA 95060
Office Property For Sale
Investment Highlights
- Trophy Jewel Box Office Acquisition Opportunity.
- Strong Cash Flow With Nearly 70% Investment Grade Tenancy.
Executive Summary
Newmark, as exclusive advisor, is pleased to present the opportunity to acquire the 100% fee-simple interest in Cooper House (the "Building" or "Property"), a 96,579 sq. ft., trophy jewel box office building located in the heart of Downtown Santa Cruz. The 87% leased boutique Property is anchored by a strong roster of investment grade tenants, including Amazon, Verizon Wireless, and Kaiser Permanente, which collectively occupy 68% of the net rentable area. Nearly 25% of the Property is heavily improved medical office for Kaiser Permanente, further strengthening its long-term cash flow durability. Additionally, the Property features 19,606 sq. ft. of ground floor retail (20%), and recently modernized creative office suites, appealing to today’s active tenant base. Over $2.1MM ($22 PSF) of capital has been invested by current ownership, including HVAC upgrades, water proofing, and lobby upgrades.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
96,579 SF
Building Class
B
Year Built/Renovated
1999/2023
Price
$25,802,001 CAD
Price Per SF
$267.16 CAD
Cap Rate
10%
NOI
$2,580,200 CAD
Percent Leased
92%
Tenancy
Multiple
Building Height
5 Stories
Typical Floor Size
19,315 SF
Building FAR
5.00
Lot Size
0.44 AC
Zoning
C - Commercial
Property Taxes
| Parcel Number | 00508155000 | Improvements Assessment | $35,420,146 CAD |
| Land Assessment | $1,254,086 CAD | Total Assessment | $36,674,232 CAD |
Property Taxes
Parcel Number
00508155000
Land Assessment
$1,254,086 CAD
Improvements Assessment
$35,420,146 CAD
Total Assessment
$36,674,232 CAD
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