4768 Soquel Drive , Soquel, CA 95073
Soquel, CA 95073
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
Details
| MLS# | ML81960519 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1958 |
| Days On Site | 289 |
| Listing Provided By | Main Street Realtors 831-462-4000 | Datta Khalsa |
Features
| SQ Feet | 2,952 |
|---|---|
| Story(s) | 1 |
| Building(s) | 1 |
| Zoning | PF-GH |
| Acreage | 0.32 |
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Learn More About This Property
| State | CA |
|---|---|
| County | Santa Cruz |
| City | Soquel |
| Zip Code | 95073 |
| Area | 699 Not Defined |
| Listing VS Median (in 95073) | |
Price: $1,395,000 low | high Med: $1,395,000 SqFt: 2,952 low | high Med: 2,952 $ / SqFt: $473 low | high Med: $473 On Site: 289 low | high Med: 289.000000 | |