540 Soquel Ave - Office FOR SALE


Santa Cruz, CA 95062
$5,900,000 USD
831-818-0181
540 Soquel Ave, Santa Cruz, CA for Sale
$5,900,000 USD
Office - FOR SALE
1/13
null | 4.29% Cap Rate

540 Soquel Ave
Santa Cruz, CA 95062


OVERVIEW

The Sullivan Building Complex at 526-540 Soquel Ave & 545 Ocean View Ave is a collection of mid-century Medical, Personal Car,e and Professional Suites in 4 buildings spread out across three parcels on a prime corner convenient to The Buttery, Shoppers Corner, and the other popular boutique shops and restaurants of Mid-Town. The longtime owners have taken great pride in the property with updates and renovations made to many of the interior and exterior components of the buildings through the years. Located in an Opportunity Zone, with access to public transit, the assemblage is eligible for a multi-story mixed-use development of high-density residential over a street-level retail podium. This is an excellent opportunity for an investor seeking to maximize cap rate with upside potential in rents on some of the larger suites which are currently leased month-to-month, or for a developer with the benefit of existing carrier income during entitlement.

FOR SALE DETAILS

PRICE

$5,900,000 USD

PRICE/SF

$2,007 USD /SF

CAP RATE

4.29%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Sullivan Building Complex

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1938

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,494 SF

ZONING

CC

APN/PARCEL ID

010-051-12-000

ASK ABOUT THIS PROPERTY

Datta KhalsaMain Street RealtorsMore Info
831-818-0181

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Datta KhalsaMain Street RealtorsMore Info
831-818-0181

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