233 N Santa Cruz AVE, Los Gatos, CA 95030
- $3,975,000
- Sold Price
- $3,975,000
- List Price
- $3,925,000
- Closing Date
- Jan 06, 2023
- MLS#
- ML81901729
- Status
- SOLD
- Property Type
- com
- Lot Size
- 8,853
- Listing Area
- Los Gatos/Monte Sereno
- Year Built
- 1954
Property Description
This incredibly RARE opportunity hasn't been on the market for 35 years. Long term TURNKEY cash generating asset offered at a VERY competitive 4.75% Cap Rate. 100% occupied single story medical office & retail building in the HEART of downtown Los Gatos' walkable shopping district. Comprising the ENTIRE southwest corner of North Santa Cruz and Bachman Avenues this LARGE property is surrounded by IMMENSELY popular destination shops and restaurants drawing people from ALL OVER the Silicon Valley. Grandfathered in GROUND FLOOR OFFICE SPACE (86% of building) with North Santa Cruz FRONTAGE and an UNHEARD OF 15 ON SITE parking spaces plus 7 MORE PURCHASED Los Gatos Public Parking District spaces. 4.5+ years remaining on the ABSOLUTE NNN lease of the office space. SIGNIFICANT future potential redevelopment play for these 2 adjacent parcels totaling 8,853 SF allowing over 5,300 SF total C-2 zoned building space. New owner has YEARS to BANK increasing cash flow during planning and entitlement.
Additional Information
- Acres
- 0.20
- Age
- 68
- Cooling System
- Central AC
- Floor Covering
- Carpet, Stone, Vinyl / Linoleum
- Foundation
- Concrete Slab
- Garage Parking
- Assigned Spaces, Common Parking Area, Guest / Visitor Parking, Off-Street Parking, Parking Area, Uncovered Parking, Varies by Unit
- Heating System
- Central Forced Air
- Lot Size
- 8,853
- Neighborhood
- Los Gatos/Monte Sereno
- Other Rooms
- Office Area, Storage
- Other Utilities
- Public Utilities
- Present Use
- Office, Retail
- Roof
- Flat / Low Pitch, Mansard, Wood Shakes / Shingles, Other
- Sewer
- Sewer - Public
- Special Features
- Bathroom Features, Grab Bars
- Zoning
- C2
Mortgage Calculator
Listing courtesy of David Propach from But Simple, Inc.. 408-202-7125
Selling Office: RCIP.
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