233 N Santa Cruz AVE

LOS GATOS, CA, 95030

$3,925,000

$3,925,000
Pending
Pending
 - For Sale
property_type
Commercial
calendar
Built 1954
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.
MLS® ID:
ML81901729
Updated:
9/25/22
Sotheby's International Realty
Dustin Owen

Interior Features

Total Bedrooms
0
Total Bathrooms
0
Floor Description
Carpet, Stone, Vinyl / Linoleum
Cooling
Central AC
Heating
Central Forced Air

Exterior/Building Features

Lot Size
8,851 ft² lot
Roof
Flat / Low Pitch, Mansard, Wood Shakes / Shingles, Other
Sewer
Sewer - Public

Other Property Details

Area Name
16
Garage
Yes
Parking
Assigned Spaces, Common Parking Area, Guest / Visitor Parking, Off-Street Parking, Parking Area, Uncovered Parking, Varies by Unit
Parking Total
15.0
View
Y
County
Santa Clara
Utilities
Public Utilities
Water Source
Public
Pool
No
Total Stories
1
Zoning
C2

Property History

Date
Event
Price
Value
8/26/22
Pending
-
-
7/29/22
Under Contract
-
-

 

Courtesy of David Propach, But Simple, Inc.

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Data last updated 4:43 AM UTC, 9/25/22

 

Sotheby's International Realty
Dustin Owen
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