Description
This property is being sold together with 445 and 457 23rd Street (see the separate listings) for the full price of $1,600,000. Great development opportunity, for owner/user, or investor. Property can be delivered vacant at close of escrow subject to any COVID 19 eviction restrictions that might apply or used to produce reliable income. Decent income producer with approx 5% CAP rate and room for rent increases. The 3 lots provide approximately 19,687 sf of land on a major thoroughfare. This is the largest lot and includes a building housing a grocery store and part of an auto repair business. The three (3) businesses straddle the lot lines. Per the City of Richmond, the ZONING for these 3 parcels is CM-5 Commercial Mixed-Use, Activity Center. This district is intended for mid- and high-rise mixed-use development at major activity centers (i.e., Richmond Civic Center, BART, AMTRAK, KAISER HOSPITAL). Office, retail, entertainment and residential uses are allowed.
-
0BEDS
-
N/AACRES
-
0BATHS
-
01/2 BATHS
School Ratings & Info
Description
This property is being sold together with 445 and 457 23rd Street (see the separate listings) for the full price of $1,600,000. Great development opportunity, for owner/user, or investor. Property can be delivered vacant at close of escrow subject to any COVID 19 eviction restrictions that might apply or used to produce reliable income. Decent income producer with approx 5% CAP rate and room for rent increases. The 3 lots provide approximately 19,687 sf of land on a major thoroughfare. This is the largest lot and includes a building housing a grocery store and part of an auto repair business. The three (3) businesses straddle the lot lines. Per the City of Richmond, the ZONING for these 3 parcels is CM-5 Commercial Mixed-Use, Activity Center. This district is intended for mid- and high-rise mixed-use development at major activity centers (i.e., Richmond Civic Center, BART, AMTRAK, KAISER HOSPITAL). Office, retail, entertainment and residential uses are allowed.
© 2021 MLSListings Inc. Based on information from MLSListings MLS as of 2021-01-21T06:48:25.927. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. DX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Intero Real Estate. Licensed in the State of California.
© 2021 MLSListings Inc. All rights reserved.
Listing provided courtesy of Lynson Beaulieu of Feagley Realtors.