Santa Cruz County Mix-Use Redevelopment - 2904 Freedom Blvd - Watsonville - CA - 95076 - MarketPier

Santa Cruz County Mix-Use Redevelopment

2904 Freedom Blvd - Watsonville, CA 95076
$4,000,000
Listing Description

Redevelopment Opportunity in Santa Cruz County! Website: www.2904FreedomBlvd.com Santa Cruz County has little, if any, available land for new developments or redevelopment, resulting in scarcity for new retail, commercial or multi-family residential developments. The parcel is zoned C-1 which allows for a Mixed-Use Commercial/Residential neighborhood development. One of the allowed uses under the C-1 Zoning is for a Multi-family Residential as a mixed use up to 50% of the floor area. Currently there is 8900 ± square foot of lease space with multiple existing tenants. There is ample parking and signage space. The site has approximately 1 acre of the 1.93 acres undeveloped. The parcel is located on a throughway on the corner of Freedom Blvd. and Corralitos Road with 400+ feet of frontage. It is a busy corridor that provides great access to Aptos, Corralitos and Watsonville. Located just 5 minutes from Highway 1. The is area is under-served in both commercial retail/services and residential housing. The demographics support the need for this growth and the and the ability to sustain the growth. This is a pristine corner lot with 4 freestanding buildings with multiple tenants on just under 2 acres. Currently, there is 8,995 square foot of lease space.The C1 Zoning allows for plenty of expansion. It also currently has ample parking for customers and visible signage. There are prior approved plans for a 15,000 square foot commercial development available. The property has a transit stop with over 84,000 square feet of land for redevelopment.The highest and best use would most likely be for a mixed use of Commercial/Residential (i.e: Apartment units over the commercial businesses).

Listing Information
MLS Number
ML81726791
APN/Parcel ID
108-191-28
Type
Retail
Building Size
8,900 sqft
Lot Size
2 sqft
Price / SQFT
$449
No Units
4
Price / Unit
$1,000,000
Cap Rate
4.50%
Listing Date
10/22/2018
Days Active
47
Last Updated
10/22/2018
Unit Mix
Bldg 1
1
3,553
Bldg 2
5
1,738
Bldg 3
1
1,500
Bldg 4
1
2,100
File Attachments
Listing Provided By
Candi Wood
David Lyng Real Estate

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Candi Wood
Listing Agent
candi@luxurypropertyca.com
MarketPier
Buyer Agent
dhaas@haasdevelopment.com
858-215-4245