Seabright Shopping Center Retail FOR SALE


Santa Cruz, CA - Seabright
$10,800,000 USD
831-818-9184
, Santa Cruz, CA for Sale
$10,800,000 USD
Retail - FOR SALE
1/11
null | 5.47% Cap Rate

Seabright Shopping Center
Santa Cruz, CA
Seabright


HIGHLIGHTS

  • Established east Santa Cruz neighborhood center with good mix of daily needs, personal services, and dining, serving the needs of local community.
  • Anchored by busy Ace Hardware store. Multi-unit operator. No immediate big box competition.
  • Many long-term tenants with little turnover, and below market rents.
  • Located within the desirable and densely populated Seabright neighborhood, with 57,000 residents within 2-miles.
  • Located at prominent intersection that is the hub of the community and vibrant “Midtown” business district.
  • The asset provides dependable cash flow with mostly NNN leases. The property has tremendous value-add and future redevelopment potential.

OVERVIEW

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.

ASK ABOUT THIS PROPERTY

Tom NelsonColliersMore Info
831-818-9184

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Tom NelsonColliersMore Info
831-818-9184

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.