540 Soquel Avenue, Santa Cruz, CA, USA
$5,900,000
Active
The Sullivan Building Complex
A Mid-Town Multi-Tenant
Assemblage on Three Parcels
Opportunity Zone & Existing Cash Flow
The Sullivan Building Complex is a collection of mid-century Medical, Personal Care and Professional Offices spread out across three parcels on a prime corner convenient to The Buttery, Shopper’s Corner, and the other popular boutique shops and restaurants of Midtown. 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.
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 pedestal. 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.
Visit www.thesullivanbuildingcomplex.com
Santa Cruz
Nestled along the stunning coastline of central California, Santa Cruz is a captivating coastal gem that seamlessly blends natural beauty with a laid-back, bohemian atmosphere. Renowned for its iconic beach boardwalk, the city exudes a classic California charm, attracting surfers, artists, and nature enthusiasts alike. With its vibrant downtown, Santa Cruz offers a diverse array of eclectic shops, artisanal eateries, and a thriving arts scene, all set against the backdrop of the majestic Santa Cruz Mountains. The city's redwood-lined landscapes provide a picturesque backdrop for outdoor activities, from hiking in the nearby state parks to exploring the serene UC Santa Cruz Arboretum. Santa Cruz's distinctive blend of surf culture, progressive values, and breathtaking scenery creates a unique and welcoming enclave on the California coast, making it a must-visit destination for those seeking a harmonious blend of beachside relaxation and vibrant community spirit.
