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Description
This incredibly RARE opportunity hasn't been on the market for 35 years. Long term TURNKEY cash generating asset offered at a VERY competitive 4.75% Cap Rate. 100% occupied single story medical office & retail building in the HEART of downtown Los Gatos' walkable shopping district. Comprising the ENTIRE southwest corner of North Santa Cruz and Bachman Avenues this LARGE property is surrounded by IMMENSELY popular destination shops and restaurants drawing people from ALL OVER the Silicon Valley. Grandfathered in GROUND FLOOR OFFICE SPACE (86% of building) with North Santa Cruz FRONTAGE and an UNHEARD OF 15 ON SITE parking spaces plus 7 MORE PURCHASED Los Gatos Public Parking District spaces. 4.5+ years remaining on the ABSOLUTE NNN lease of the office space. SIGNIFICANT future potential redevelopment play for these 2 adjacent parcels totaling 8,853 SF allowing over 5,300 SF total C-2 zoned building space. New owner has YEARS to BANK increasing cash flow during planning and entitlement.
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Listing Agent: David Propach Courtesy of: But Simple, Inc. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the MLSListings™ MLS system. Real estate listings held by brokerage firms other than MLSListings Inc are marked with the Internet Data Exchange icon (a stylized house inside a circle) and detailed information about them includes the names of the listing brokers and listing agents. The broker providing this data believes the data to be correct, but advises interested parties to confirm all information before relying on it for a purchase decision. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. © 2022 MLSListings Inc. All rights reserved. http://www.mlslistings.com/ Updated: 12th August, 2022 2:16 PM (UTC)
