1. California
  2. Santa Cruz
  3. 526-540 Soquel Avenue
$5,900,000

526-540 Soquel Avenue, Santa Cruz, CA 95062

  • 15,185 sqft
  • Property Icon Commercial Property
  • Property Year Built Icon Built in 1938
  • Property Lot Size Icon0.68acre lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $389/sqft
  • Property List Date Icon Listed 4 months ago

Property Description

The Sullivan Building Complex at 526-540 Soquel Ave & 545 Ocean View Ave is a collection of mid-century Medical, Personal Care and Professional Suites in 4 buildings spread out across three parcels on a prime corner convenient to The Buttery, Shoppers Corner and the other popular boutique shops and restaurants of Mid-Town. The longtime owners have taken great pride in the property with updates and renovations made to many of the interior and exterior components of the buildings through the years, with over $420,000 in capital improvements added since 2020, including courtyard remodel for the Medical Arts Building, plus new windows, new plumbing, new flooring, new heat and new air for many of the suites in the complex. Located in an Opportunity Zone, with access to public transit, the assemblage is eligible for multi-story mixed-use development of high-density residential over street-level retail podium. This is an excellent opportunity for an investor seeking to maximize cap rate with upside potential in rents on some of the larger suites which are currently leased month-to-month, or for a developer with the benefit of existing carrier income during entitlement.

Listing Status:
Active
Date Added:
February 2, 2025 at 06:00AM
Listing Office:
Main Street Realtors : 831-462-4000
Listing Agent:
Datta Khalsa : 831-818-0181
MLS ID:
ML81992548
  • Flooring: Hardwood
  • Heating: Forced AirNatural GasWall Furnace
  • Disability Feature: Customized Wheelchair Accessible
  • Eco/Green Feature: Low Flow Toilet

This listing courtesy of Datta Khalsa, Main Street Realtors

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

Ready to Start a VA Loan?

Get Started Veterans United Home LoansNMLS #1907  †
Get Prequalified »
Interest rates used in the VA mortgage calculator are shown for illustrative purposes only. Your rate may differ based on a variety of factors, including your credit score and the current market conditions. To get your personalized interest rate, start your quote online.

Location

Schools Nearby

S

Santa Cruz City Elementary Alternative Education-Monarch Community School

840 N Branciforte Ave, Santa Cruz, CA, 95062

Grades KG-6

0.46 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.