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$1,100,000
Est. payment /mo
780 SqFt
UPDATED:
02/04/2025 04:47 PM
Key Details
Property Type Commercial
Sub Type Restaurant
Listing Status Active
Purchase Type For Sale
Square Footage 780 sqft
Price per Sqft $1,410
MLS Listing ID ML81992593
Year Built 1947
Lot Size 1,873 Sqft
Property Description
The former Chill Out Cafe is a standalone legacy building in a prime 'Restaurant Row' location on Lower 41st Ave, Walking distance to the world-class surf of The Hook and Pleasure Point. Immediate neighbors include Verve, Penny Ice Creamery, East Side Eatery, and Zameen, with Mad Yolks coming soon next door. Includes shovel-ready plans, engineering, and entitlements to convert the current facility to a modern takeout cafe, adding 80 SF of refrigerated expansion into the rear patio area. Current owners have recently put over $82K into the property, including $18K Plans, $9K Permits, $14K Engineering, $20K Sewer Lateral, plus $21K Structural and Renovation. Possibilities abound to either build out the proposed expansion using the current plans and permits, or keep it simple and re-open the existing facility with basic upgrades and retrofits. Or go big and pursue a multi-story development with mixed-use second level, subject to finalizing proposed terms of a reciprocal parking agreement with one of the neighboring property owners. Stated rents are based on a pro forma rate of $4.50 per SF/NNN on the existing footprint. This is an incredible opportunity for the forward-minded operator seeking to control their own destiny on a piece of some of the most prime real estate in the County.
Location
State CA
County Santa Cruz
Area Live Oak
Zoning C-2
Interior
Heating Gas
Cooling None
Exterior
Parking Features On Street
Utilities Available Garbage Collection, Natural Gas, Public Utilities
Roof Type Rolled Composition
Present Use Commercial
Building
Story 1
Foundation Concrete Slab
Sewer Sewer - Public
Water Public
Level or Stories 1
Others
Restrictions None
Tax ID 033-141-23-000
Miscellaneous Floor Drain,High Ceiling
Security Features Controlled / Secured Access,Fire Alarm
Special Listing Condition Not Applicable
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Listed by Datta Khalsa • Main Street Realtors