1023 Chestnut St - R&D FOR SALE


Redwood City, CA 94063
$6,750,000 USD
650-847-3800
1023 Chestnut St, Redwood City, CA for Sale
$6,750,000 USD
R&D - FOR SALE
1/29
null | Request Cap Rate

1023 Chestnut St
Redwood City, CA 94063


OVERVIEW

• Prime Development Opportunity at the Gateway to Redwood City (according to RWC Municipal Code). Across from nearly-completed Broadway Plaza, in the strategic Mixed-Use Corridor (MU-C) zoned area of Redwood City's most recent Strategic General Plan. • Parcel is 0.58 acres. MU-C allows for 80du/ac = 46 potential units + ground floor commercial (buyer to verify). • Complete MU-C Zoning Code: https://library.municode.com/ca/redwood_city/codes/zoning_code?nodeId=ART53MIECOZODI • The property is currently fully leased 10,765 square foot Office/Flex property with upgraded interiors, producing significant cash flow for long term hold or through the planning/permitting process for redevelopment. • Building is within 1 mile of three major mixed-use developments that will bring over 1,500 apartment units and 1,000,000 SF of commercial space: 1. Broadway Plaza (1401 Broadway Ave) -518 Residential Units (For Rent) -420,000 sq. ft. Office -26,000 sq. ft. Retail 2. Elco Yards (1601 El Camino) -540 Residential Units (For Rent) -420,653 sq. ft. Research and Development -109,347 sq. ft. Office -28,841 sq. ft. Retail 3. 1205 Veterans Boulevard -409 Residential Units (For Rent) -5,600 sq. ft. Retail

FOR SALE DETAILS

PRICE

$6,750,000 USD

PRICE/SF

$627 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Flex

PROPERTY SUBTYPE

R&D

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1948

UTILITIES

-

CLEAR CEILING HT

15 Ft

DOCKS

-

DRIVE INS

1

PARKING SPACES

37

LAND DETAILS

LAND ACRES

0.58

LAND SF

25,265

ZONING

MU-C

APN/PARCEL ID

053-212-190

ASK ABOUT THIS PROPERTY

Tyrus CobbWilbur PropertiesMore Info
650-847-3800

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Tyrus CobbWilbur PropertiesMore Info
650-847-3800

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.