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$ 5,500,000
Est. payment | /mo
0.6 Acres Lot
$ 5,500,000
Est. payment | /mo
0.6 Acres Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82054966
HOA Y/N No
Lot Size 0.605 Acres
Property Description
High visibility redevelopment site directly across from the Capitola Mall. This infill site is the perfect location for a new commercial, mixed-use, multi-family or hotel project. The city confirmed that affordable housing developments can be approved through a ministerial process using AB 2011. The property is located in the main retail destination in the county, with approximately 1.2 million square feet of retail space at the intersection of Capitola Road and 41st Avenue. The Capitola Mall is the largest retail development in Santa Cruz County with 584,000 SF of space. The city recently re-zoned the mall to allow up to 1,777 residential units to be built on the site. Major retailers in the area include Target, Whole Foods, New Leaf, CVS, Trader Joe's, Kohl's, Macy's, Michaels, and Ross. The site is a short distance from Pleasure Point, The Hook, and Capitola Beach, as well as Capitola Village. This is the rare opportunity to acquire a corner lot with exceptional development potential in one of the most active locations in Santa Cruz County.
Location
State CA
County Santa Cruz
Area 699 - Not Defined
Zoning Community Commercial
Interior
Fireplace No
Exterior
Fence Chain Link
Utilities Available Electricity Available
Present Use Multi-Family
Building
Water Public
Schools
Elementary Schools Live Oak
Middle Schools Other
High Schools Soquel
School District Other
Others
Tax ID 03418114000
Listed by Joshua Johnson Marcus & Millichap #01930127