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Seabright Shopping Center 3 Retail Properties Offered at $10,800,000 in Santa Cruz, CA
INVESTMENT HIGHLIGHTS
- Established east Santa Cruz neighborhood center with good mix of daily needs, personal services, and dining, serving the needs of local community.
- Many long-term tenants with little turnover, and below market rents.
- Located at prominent intersection that is the hub of the community and vibrant “Midtown” business district.
- Anchored by busy Ace Hardware store. Multi-unit operator. No immediate big box competition.
- Located within the desirable and densely populated Seabright neighborhood, with 57,000 residents within 2-miles.
- The asset provides dependable cash flow with mostly NNN leases. The property has tremendous value-add and future redevelopment potential.
EXECUTIVE SUMMARY
Seabright Plaza Shopping Center and 110 Gault Street are now being sold together.
Seabright Plaza is an iconic neighborhood shopping center located in one of the best neighborhoods in Santa Cruz County. It is 100% leased with many longtime local tenants. It is zoned Community Commercial and General Plan allows it to be developed as high-density (potentially 250-300 units) residential mixed-use project with ground floor retail (approximately 15,000 SF).
110 Gault Street, an approximately 5,706 SF parcel of land. It located directly south across the street for Seabright Plaza and used as overflow/ additional parking for Seabright Plaza (approximately 28 spaces). Zoned for medium density housing.
Seabright Plaza could be potentially developed within 4-5 years while collecting rent to help cover the holding costs. Please contact me for details.
Seabright Plaza is an iconic neighborhood shopping center located in one of the best neighborhoods in Santa Cruz County. It is 100% leased with many longtime local tenants. It is zoned Community Commercial and General Plan allows it to be developed as high-density (potentially 250-300 units) residential mixed-use project with ground floor retail (approximately 15,000 SF).
110 Gault Street, an approximately 5,706 SF parcel of land. It located directly south across the street for Seabright Plaza and used as overflow/ additional parking for Seabright Plaza (approximately 28 spaces). Zoned for medium density housing.
Seabright Plaza could be potentially developed within 4-5 years while collecting rent to help cover the holding costs. Please contact me for details.
PROPERTY FACTS
| Price | $10,800,000 | Number of Properties | 3 |
| Price / SF | $380.30 / SF | Individually For Sale | 0 |
| Cap Rate | 5.47% | Total Building Size | 28,399 SF |
| Sale Type | Investment | Total Land Area | 4.32 AC |
| Status | Active |
| Price | $10,800,000 |
| Price / SF | $380.30 / SF |
| Cap Rate | 5.47% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 28,399 SF |
| Total Land Area | 4.32 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 1214-1224 Soquel Ave, Santa Cruz, CA 95062 | Retail | 12,059 SF | 1954 | - |
|
Seabright Shopping Center
1622-1626 Seabright Ave, Santa Cruz, CA 95062 |
Retail | 9,389 SF | 1980 | - |
| 1620 Seabright Ave, Santa Cruz, CA 95062 | Retail | 6,951 SF | 1980 | - |
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Seabright Shopping Center
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