4768 Soquel DR Active Save Request In-Person Tour Request Virtual Tour
Soquel,CA 95073
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