910 Monterey St - Office/Residential FOR SALE


Hollister, CA 95023
$2,188,000 USD
925-858-8862
910 Monterey St, Hollister, CA for Sale
$2,188,000 USD
Office/Residential - FOR SALE
1/18
null | 3.66% Cap Rate

910 Monterey St
Hollister, CA 95023


HIGHLIGHTS

  • • History building -19,850 sq ft, 25 more rooms/suites 30 more bathrooms
  • • Concept design is done and reviewed with City Planning Dept. And City supports density increase plan.
  • • Located in downtown-Walk to walk to Banks, Grocery, Restaurant, Shopping, and City Hall/County
  • • Main Building can convert to 17 condos + new 3 condo
  • • Open for optional joint development and/or seller carry a loan.

OVERVIEW

We are pleased to offer this great opportunity for sale. Imagine you could turn this historical building to a beautiful modern condo in downtown area of the city close to Silicon Valley of California. It is part of an ambitious plan of re-development of the downtown area in almost every city around the San Francisco Bay Area to attract millennium and provide a new living environment of downtown. This sale includes 3 parcels and the total lot size is approx 35,000 sq ft (0 .80 Acres). The main building is a historical building and currently used as commercial and home office. The main building’s gross interior size is 19,850 sq ft, with 25 or more rooms/suites. Some of those rooms and suites have a bathroom and half bathroom. Total of 30 more bathrooms inside the building. The building has 3 levels. The property is located in Hollister’s downtown area. You can walk to Banks, Grocery, Restaurant, Shopping, and City Hall/County. Currently, the building is zoned commercial/home office and mixed-used and is used as a business plaza and leased to several Offices The current occupancy is 75%. The new zoning, city-supported allow converting the main building to 16 condos and another new building can be constructed in the current parking lot while still leave enough parking space for the new community. A concept design drawing is done and submitted to the City. A preliminary meeting with City Planning, engineering and Fire Department was held, the next step toward the development has been directed by the City. You may also create a new plan to convert the main building to affordable apartments with a coffee shop on the corner, or any kind of commercial, residential mixed used. Seller is motivated and is open for optional joint development and/or seller carry a loan.

FOR SALE DETAILS

PRICE

$2,188,000 USD

PRICE/SF

$110 USD /SF

CAP RATE

3.66%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Ready To Development to 20 Units Condo

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Office/Residential

ADD'L SUBTYPES

Medical, Industrial Live/Work Unit

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

C

YEAR BUILT

1907

SPRINKLERS

-

PARKING SPACES

25

LAND DETAILS

LAND ACRES

0.52 AC

LAND SF

22,651 SF

ZONING

Mix used

APN/PARCEL ID

055-050-005-000,055-050-025-000,055-050-026-000

ASK ABOUT THIS PROPERTY

Patricia LiBay Home Investments & LoansMore Info
925-858-8862

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Patricia LiBay Home Investments & LoansMore Info
925-858-8862

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