4768 Soquel Drive Soquel, CA 95073

General Commercial Residence

Beds

Baths

2,952 Sq. Ft.

0.32 Acre Lot

Property Activity

Time on Site

days

Days on Market

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Saves

Last updated on 11/15/2024 7:43 PM

Listing Details

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. Lon...g 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 Continue reading

MLS#

ML81960519

Property Type

General Commercial

Status

Year Built

1958

Square Feet

2,952 sq. ft

Lot Size

0.32