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Listed by Gina Carling • David Lyng Real Estate
$3,150,000
Est. payment /mo
8,592 SqFt
Active
3025 Porter Street Soquel, CA 95073
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Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 8,592 sqft
Price per Sqft $366
MLS Listing ID ML82001653
HOA Y/N No
Originating Board Datashare MLSListings
Year Built 1935
Lot Size 0.774 Acres
Property Sub-Type Comm Ind For Sale
Property Description
Soquel Village Mall is a three-building commercial property with a high-profile location at the intersection of Soquel Drive and Porter Street in the heart of Soquel, California. The property totals 8,592 square feet of gross leasable area on 0.77 acres and includes a multi-tenant commercial building, single-tenant restaurant building, and single-tenant auto repair building. This is the first time the property has been on the market in 40 years and represents a rare opportunity for an investor to acquire three highly desirable buildings in a single transaction. Most of the tenants in Soquel Village Mall have occupied the property for many years, and contract rents are well below market levels. Additionally, about 40% of the space is vacant or leased on a short-term basis. The net income for the property can be increased significantly by leasing up the vacant space and moving contract rents to market. Each building is situated on a separate parcel. located at the northwest corner of Soquel Drive and Porter Street, two of the major surface streets in Soquel. Soquel Drive carries about 19,000 vehicles per day and Porter Street has traf c counts exceeding 11,000 vehicles per day, providing excellent exposure for tenants at the property. Easy drive to San Jose & Monterey Bay Areas.
Location
State CA
County Santa Cruz
Interior
Heating Forced Air
Fireplace No
Building
Water Public
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