806 Ocean St 6,200 SF Office Building Santa Cruz, CA 95060 $3,275,000 ($528.23/SF) 2.56% Cap Rate

Positioned at the epicenter of the rapidly evolving Ocean Street corridor, 806 Ocean Street represents a premier redevelopment opportunity in Santa Cruz’s most aggressive growth zone. Spanning just under half an acre and boasting the highly coveted MU-VH (Mixed-Use Visitor-Serving High-Density) zoning, this property is a versatile blank canvas perfectly situated to benefit from the massive infrastructure and residential investments currently transforming the city’s gateway. Developers can leverage State Density Bonus Laws and the Ocean Street Area Plan to exceed traditional caps, creating a high-yield, flagship project that mirrors the successful five- and six-story developments rising on neighboring blocks. This rare zoning designation allows for a strategic blend of high-density residential units and lucrative visitor-serving commercial uses, capturing both the local housing demand and the heavy tourist traffic entering from Highway 1 and Highway 17.
Beyond its significant development potential, 806 Ocean Street offers a de-risked transition for investors, with a current lease in place that provides immediate income to offset holding and carry costs during the planning and entitlement phases. The site’s location is unrivaled for connectivity, offering direct access to Highway 1 and Highway 17 while remaining within comfortable walking distance of the San Lorenzo Riverwalk, the vibrant Downtown core, and the Santa Cruz Beach Boardwalk. As the city shifts toward a high-density, transit-oriented future, this site stands as the next logical domino to fall in a high-yield corridor. This is a unique invitation to join a neighborhood being reborn and to secure a keystone property that will ultimately shape the skyline of the new Santa Cruz.