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74-82 Porter Dr 11,867 SF 100% Leased Industrial Building Watsonville, CA 95076 $3,900,000 ($328.64/SF) 3.40% Cap Rate
INVESTMENT HIGHLIGHTS
- 100% occupancy
- Auto repair business friendly use
- Solid tenants and rental income history
- Mixed use development opportunity
EXECUTIVE SUMMARY
Large Commercial Property known as 70 Porter Dr & 80A Porter Dr. APN # 117-332-015, APN 117-332-014. There are currently 10 rental income units & 12 tenants, 5 residential tenants. Residential tenants on 2nd floor above Stereo Electronics store. One Studio unit and 2 individual room rentals. The square footage stated are either from the tax assessor records or property manager and are not guaranteed exact. All the commercial tenants have been long term and are on month to month agreements. New 30 year roof in June 2022 with 10 year warranty. All new electrical in 2015, plumbing new in residential units in 2020. There are 3 water meters (1 not being used). 7 electrical meters on the property. The property received very little to no damage from the levy incident in March 2023. Research (Proforma in financials) shows good upside in rent potential, based on current market rental rates. Rent Roll & 2024 P&L available with signed NDA. Seller will consider seller financing.
APN 117-332-014 building 2, 371 sq ft - Parcel 5,500 sq ft - source county tax assessor web site - buyer to verify
APN 117-332-015 building 11,867 sq ft - Parcel 24,437 sq ft - source county tax assessor web site - buyer to verify
Combined buildings 14,238 - Combined Parcels 29,937 sq ft - source county tax assessor web site - buyer to verify
APN 117-332-014 building 2, 371 sq ft - Parcel 5,500 sq ft - source county tax assessor web site - buyer to verify
APN 117-332-015 building 11,867 sq ft - Parcel 24,437 sq ft - source county tax assessor web site - buyer to verify
Combined buildings 14,238 - Combined Parcels 29,937 sq ft - source county tax assessor web site - buyer to verify
FINANCIAL SUMMARY (PRO FORMA - 2026) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$307,200
|
$31.02
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$307,200
|
$31.02
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$61,498
|
$6.21
|
| Net Operating Income |
$245,702
|
$24.81
|
FINANCIAL SUMMARY (PRO FORMA - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $307,200 |
| Annual Per SF | $31.02 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $307,200 |
| Annual Per SF | $31.02 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $61,498 |
| Annual Per SF | $6.21 |
| Net Operating Income | |
|---|---|
| Annual | $245,702 |
| Annual Per SF | $24.81 |
PROPERTY FACTS
AMENITIES
- Bus Line
- Signage
UTILITIES
- Lighting
- Gas
- Water
- Sewer
- Heating
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE END
- Battery Sales
- Retailer
- -
- -
- -
- Electronics & Stereo
- Services
- -
- -
- -
- Extreme Hair
- Services
- -
- -
- -
- Jimenez Auto Body Repair
- Services
- -
- -
- -
- La Tiendita Market
- Retailer
- -
- -
- -
- Restaurant Colima
- Retailer
- -
- -
- -
- West Coast Auto Repair
- Services
- -
- -
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE END | ||
| Battery Sales | Retailer | - | - | - | ||
| Electronics & Stereo | Services | - | - | - | ||
| Extreme Hair | Services | - | - | - | ||
| Jimenez Auto Body Repair | Services | - | - | - | ||
| La Tiendita Market | Retailer | - | - | - | ||
| Restaurant Colima | Retailer | - | - | - | ||
| West Coast Auto Repair | Services | - | - | - |
1 1
Walk Score®
Very Walkable (71)
PROPERTY TAXES
| Parcel Number | 117-332-015-000 | Improvements Assessment | $57,406 (2025) |
| Land Assessment | $114,829 (2025) | Total Assessment | $172,235 (2025) |
PROPERTY TAXES
Parcel Number
117-332-015-000
Land Assessment
$114,829 (2025)
Improvements Assessment
$57,406 (2025)
Total Assessment
$172,235 (2025)
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74-82 Porter Dr
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