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923-931 Pacific Ave
Santa Cruz, CA 95060
Retail Property For Sale
Investment Highlights
- Core Downtown Santa Cruz | Located in an Opportunity Zone (potential tax benefits)
- 100% occupied by well-established, long-term tenants on new 5-year NNN leases
- High barriers to entry: each tenant has a full liquor license, which are extremely difficult to obtain
- Over 1,600 residential units being built within 6 blocks of the subject property
- Inflation hedge: each lease has 3% annual rent increases
- Potential Future Redevelopment: city is considering a plan to increase Downtown building height limits to 12 stores
Property Facts
Property Type
Retail
Property Subtype
Building Size
10,400 SF
Building Class
B
Year Built/Renovated
1932/2008
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.99
Lot Size
0.12 AC
Zoning
N/A
Frontage
55’ on Pacific Ave
Property Taxes
| Parcel Number | 005-143-02-000 | Improvements Assessment | $1,828,620 |
| Land Assessment | $643,880 | Total Assessment | $2,472,500 |
Property Taxes
Parcel Number
005-143-02-000
Land Assessment
$643,880
Improvements Assessment
$1,828,620
Total Assessment
$2,472,500
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