526-540 Soquel AVE, Santa Cruz, CA 95062 – ML81992548

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Sean Beattie

sean@brivio.com +1(415) 716-7190

Listed by Datta Khalsa • Main Street Realtors

$5,900,000

Est. payment - /mo

15,185 SqFt

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UPDATED:

Key Details

Property Type Commercial

Sub Type Commercial Property

Listing Status Active

Purchase Type For Sale

Square Footage 15,185 sqft

Price per Sqft $388

MLS Listing ID ML81992548

Year Built 1938

Lot Size 0.680 Acres

Property Sub-Type Commercial Property

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.

Location

State CA

County Santa Cruz

Area East Santa Cruz

Building/Complex Name The Sullivan Building Complex

Zoning CC

Rooms

Other Rooms Atrium, Basement - Finished, Office Area, Storage

Interior

Heating Forced Air, Gas, Wall Furnace

Cooling None

Flooring Carpet, Hardwood, Laminate, Tile, Vinyl / Linoleum

Exterior

Exterior Feature Balcony / Patio, Courtyard, Drought Tolerant Plants, Low Maintenance, Storage Shed / Structure

Parking Features Common Parking Area, Off-Street Parking, On Street, Uncovered Parking

Utilities Available Public Utilities

Roof Type Rolled Composition,Tar and Gravel,Other

Present Use Medical/Dental,Office

Building

Story 1

Foundation Concrete Perimeter and Slab, Foundation Pillars

Sewer Sewer - Public

Water Public

Level or Stories 1

Others

Restrictions None

Tax ID 010-051-12-000

Miscellaneous High Ceiling ,Security Gate,Vaulted Ceiling

Security Features Closed Circuit Monitoring (24-hour),Controlled / Secured Access,Fire Alarm ,Security Alarm ,Security Lights,Varies by Unit,Video / Audio System

Special Listing Condition Notice of Default

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Sean Beattie

+1(415) 716-7190

Broker Associate | CA DRE# 01304100

Broker Associate CA DRE# 01304100

526-540 Soquel AVE Santa Cruz, CA 95062

Sean Beattie

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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