526-540 Soquel AVE new Save Request In-Person Tour Request Virtual Tour
Santa Cruz,CA 95062
Key Details
Property Type Commercial
Sub Type Commercial Property
Listing Status Active
Purchase Type For Sale
Square Footage 15,185 sqft
Price per Sqft $388
MLS Listing ID ML81992548
Year Built 1938
Lot Size 0.680 Acres
Property Description
The Sullivan Building Complex at 526-540 Soquel Ave & 545 Ocean View Ave is a collection of mid-century Medical, Personal Care 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 multi-story mixed-use development of high-density residential over 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.
Location
State CA
County Santa Cruz
Area East Santa Cruz
Building/Complex Name The Sullivan Building Complex
Zoning CC
Rooms
Other Rooms Atrium,Basement - Finished,Office Area,Storage
Interior
Heating Forced Air,Gas,Wall Furnace
Cooling None
Flooring Carpet,Hardwood,Laminate,Tile,Vinyl / Linoleum
Exterior
Exterior Feature Balcony / Patio,Courtyard,Drought Tolerant Plants,Low Maintenance,Storage Shed / Structure
Parking Features Common Parking Area,Off-Street Parking,On Street,Uncovered Parking
Utilities Available Public Utilities
Roof Type Rolled Composition,Tar and Gravel,Other
Present Use Medical/Dental,Office
Building
Story 1
Foundation Concrete Perimeter and Slab,Foundation Pillars
Sewer Sewer - Public
Water Public
Level or Stories 1
Others
Restrictions None
Tax ID 010-051-12-000
Miscellaneous High Ceiling ,Security Gate,Vaulted Ceiling
Security Features Closed Circuit Monitoring (24-hour),Controlled / Secured Access,Fire Alarm ,Security Alarm ,Security Lights,Varies by Unit,Video / Audio System
Special Listing Condition Notice of Default