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14 E Lake Ave 4,225 SF Retail Building Watsonville, CA 95076 $699,000 ($165.44/SF) 5.30% Cap Rate
Investment Highlights
- Located in the heart of Watsonville’s Central Business District, offering strong visibility and accessibility.
- Convenient access to nearby public parking lots for customer and employee use.
- Flexible floor plan suitable for a wide variety of uses, including retail, office, or hospitality concepts like a coffeehouse or brewery.
- Positioned along East Lake Avenue with high pedestrian and vehicle traffic counts for maximum exposure.
- Recently improved with an estimated $120,000–$140,000 in tenant improvements, repairs, and capital upgrades.
- Long-term development potential with new density bonus allowing for mixed-use projects, including up to 5 stories of residential above commercial unit
Executive Summary
Great opportunity for either an investor or owner/operator here: A classic building in the heart of Watsonville’s Central Business District with high vehicle and pedestrian traffic counts, plus convenient access to a public parking lot for customers and employees alike. The owner has invested an estimated $120K- $140K worth of TI’s, repairs, and capital improvements into the building. Under a short-range plan, you can repurpose the existing building for a broad range of uses ranging from a coffeehouse to a brewery to retail and offices space. Or go big out of the gates with a long-range plan to capitalize on the new density bonus programs and go vertical for a mixed-use development with commercial use at street level and up to 5 stories of residential units above. Possibilities for the future abound!
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
4,225 SF
Building Class
C
Year Built/Renovated
1900/1980
Price
$699,000
Price Per SF
$165.44
Cap Rate
5.30%
NOI
$37,047
Tenancy
Single
Building Height
1 Story
Building FAR
0.97
Lot Size
0.10 AC
Zoning
CCA - Community Commercial
Frontage
58’ on E Lake Ave
Amenities
- Signage
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
60/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 017-022-47-000 | Improvements Assessment | $172,905 |
| Land Assessment | $284,457 | Total Assessment | $457,362 |
Property Taxes
Parcel Number
017-022-47-000
Land Assessment
$284,457
Improvements Assessment
$172,905
Total Assessment
$457,362
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14 E Lake Ave
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