Remarks

Retail Visibility, Stability, Flexibility, and Cash Flow - Over 6.00% Current Cap Rate: This commercial investment offers prime frontage and two established retail suites serving the neighborhood with additional income from rear storage units, benefitting from stable leases and diversified cash flow. With 100% occupancy, long-standing tenants, and stable in-place income, and month-to-month lease terms this asset appeals to local or regional investors seeking immediate cash flow, as well as long-term upside through either lease optimization or residential redevelopment. Garage doors are approximately 10 ft tall and the interior height of the garages are approximately 14 ft. New roof on rear building 2020. Front Building consists of 2,590 SF of retail space divided into two (2) primary retail suites, each with their own bathroom: 771 and 771-A. Utilities include two separate electric meters with shared gas, water, sewer, and garbage. Rear Building includes 1,900 SF of industrial self-storage divided into three (3) units: 771-B, C, and D each with six (6) high-lift garage doors. Unit B incorporates an additional front office and private bathroom. Utilities include one electric and one water meter servicing all three commercial storage Units B, C, and D. Shared sewer and garbage.

Details

MLS#: ML82021450
Price: $1,075,000

Style: Commercial Property
Sq Ft: 4490
Year Built: 1937

County: Santa Cruz