Remarks

Soquel Village Mall is a three-building commercial property with a high-profile location at the intersection of Soquel Drive and Porter Street in the heart of Soquel, California. The property totals 8,592 square feet of gross leasable area on 0.77 acres and includes a multi-tenant commercial building, single-tenant restaurant building, and single-tenant auto repair building. This is the first time the property has been on the market in 40 years and represents a rare opportunity for an investor to acquire three highly desirable buildings in a single transaction. Most of the tenants in Soquel Village Mall have occupied the property for many years, and contract rents are well below market levels. Additionally, about 40% of the space is vacant or leased on a short-term basis. The net income for the property can be increased significantly by leasing up the vacant space and moving contract rents to market. Each building is situated on a separate parcel. located at the northwest corner of Soquel Drive and Porter Street, two of the major surface streets in Soquel. Soquel Drive carries about 19,000 vehicles per day and Porter Street has traf c counts exceeding 11,000 vehicles per day, providing excellent exposure for tenants at the property. Easy drive to San Jose & Monterey Bay Areas.

Details

MLS#: ML82001653
Price: $3,150,000

Style: Commercial Property
Sq Ft: 8592
Year Built: 1935

County: Santa Cruz