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$1,395,000

Est. payment - /mo

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2,952 SqFt

Active

4768 Soquel DR Soquel, CA 95073

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Graeham Watts

graehamwatts@gmail.com +1(650) 308-4727

UPDATED:

10/11/2024 05:55 AM

Key Details

Property Type Commercial

Sub Type Commercial Property

Listing Status Active

Purchase Type For Sale

Square Footage 2,952 sqft

Price per Sqft $472

MLS Listing ID ML81960519

Year Built 1958

Lot Size 0.320 Acres

Property Description

Mid county investment opportunity on two premium lots in Soquel Village. This facility has 9 parking spaces on-site, with 2 handicapped spots, an ADA access ramp, rear loading dock, dual pane windows, 3-phase power, brick exterior, and received $50,000+/- in major plumbing updates in March 2022. Long term stable tenant. Although the cap rate may seem misaligned with current trends due to recent interest rate hikes, the property's long-term value is exceptional. Its sought-after location attracts business buyers and developers who prize its premium zoning. A nearly identical building next door at 4746 Soquel Dr sold for a similar price per square foot two years ago. Now a central office for a real estate company, it was chosen for its proximity to popular shops, restaurants, the county park, and the River Walk. This area's appeal is set to grow, with adjacent properties like 4768 Soquel expected to capitalize on open parking and park views. Current tenant has two 5-year lease extensions available and the current owners of 4768 Soquel enjoy a low tax base and solid income, making them unlikely to sell unless their asking price is met. It is because of these reasons that this investment is positioned as a premium opportunity relative to its current Capitalization Rate

Location

State CA

County Santa Cruz

Area Soquel

Zoning PF-GH

Rooms

Other Rooms Storage

Interior

Heating Gas, Space Heater

Cooling None

Flooring Concrete, Vinyl / Linoleum

Exterior

Parking Features Common Parking Area, Guest / Visitor Parking, Off-Street Parking, Room for Oversized Vehicle, Uncovered Parking

Utilities Available Public Utilities

Roof Type Composition,Other

Present Use Office

Building

Story 1

Foundation Concrete Perimeter

Sewer Sewer - Public

Water Public

Level or Stories 1

Others

Restrictions None

Tax ID 030-153-26-000

Miscellaneous High Ceiling

Security Features Security Lights

Special Listing Condition Not Applicable

Listed by Datta Khalsa • Main Street Realtors

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Graeham Watts

Realtor | License ID: 01466876

+1(650) 308-4727

4768 Soquel DR Soquel, CA 95073

Graeham Watts

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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4768 Soquel DR