125 Walnut Ave 17,319 SF 100% Leased Retail Building Santa Cruz, CA 95060 $4,975,000 ($287.26/SF) 5.12% Cap Rate
INVESTMENT HIGHLIGHTS
- Rare Owner-User/ Investment/ Development Opportunity
- Eclectic mix of retail, office, and food and beverage tenants
- Mixed-Use Redevelopment Possibility
- Premier downtown Santa Cruz location, right off Pacific Ave and surrounded by all major city parking lots and garages
- Near 100% occupancy with flexible leases in place
EXECUTIVE SUMMARY
Cushman and Wakefield, as the exclusive advisor, is proud to present the opportunity to acquire the 100% fee simple interest in 125 Walnut Ave. & 130 Pearl Alley (“the Property”.) The two-story 17,319 SF building is located on historic Walnut Ave.- right in the heart of rapidly growing Downtown Santa Cruz, CA.
Downtown Santa Cruz continues to grow as over several large-scale market-rate multifamily and hotel developments have broken ground or are set to break ground within the next two years. Only a few properties trade in Downtown Santa Cruz each year, so each offering is a rare opportunity. The Eulensen Building is no exception, and is a rare chance to become a building owner in Downtown Santa Cruz.
Downtown Santa Cruz continues to grow as over several large-scale market-rate multifamily and hotel developments have broken ground or are set to break ground within the next two years. Only a few properties trade in Downtown Santa Cruz each year, so each offering is a rare opportunity. The Eulensen Building is no exception, and is a rare chance to become a building owner in Downtown Santa Cruz.
DATA ROOM Click Here to Access
- Zoning Ordinance
- Operating and Financials
- Title and Insurance
- City of Santa Cruz Planning
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
17,319 SF
Building Class
C
Year Built
1939
Price
$4,975,000
Price Per SF
$287.26
Cap Rate
5.12%
NOI
$254,720
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.24
Lot Size
0.32 AC
Zoning
CBD - City of Santa Cruz Central Business District (CBD) allows for many different uses. Importantly, there are no minimum parking space requirements.
Frontage
AMENITIES
- Signage
Walk Score®
Walker's Paradise (99)
Bike Score®
Biker's Paradise (99)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $330,481 | |
| Land Assessment | $156,641 | Total Assessment | $487,122 |
