CA > Santa Cruz
Santa Cruz, CA 95062,526540 Soquel AVE
Santa Cruz, CA 95062,526540 Soquel AVE
Santa Cruz, CA 95062,526540 Soquel AVE
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The Warburton Team Brokered By EXp

The Warburton Team Brokered By EXp

+1(626) 630-2141
$5,500,000
Est. payment /mo
0.68 Acres Lot
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UPDATED:

Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID ML82016697

HOA Y/N No

Year Built 1938

Annual Tax Amount $70,800

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, with over $420,000 in capital improvements added since 2020, including courtyard remodel for the Medical Arts Building, plus new windows, new plumbing, new flooring, new heat and new air for many of the suites in the complex. 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 699 - Not Defined

Zoning CC

Interior

Heating Forced Air, Wall Furnace

Cooling None

Fireplace No

Exterior

Roof Type Other,Tar/Gravel

Total Parking Spaces 24

Building

Story 1

Water Public

Others

Tax ID 01005112000

Security Features Security Lights

Virtual Tour https://vimeo.com/1050109926?share=copy

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CRMLS – RECore
Listed by Datta Khalsa Main Street Realtors

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