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$ 1,100,000
Est. payment | /mo
1,873 Sqft Lot
$ 1,100,000
Est. payment | /mo
1,873 Sqft Lot
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML81992593
HOA Y/N No
Year Built 1947
Annual Tax Amount $13,200
Lot Size 1,873 Sqft
Property Description
The former Chill Out Cafe is a standalone legacy building in a prime 'Restaurant Row' location on Lower 41st Ave, Walking distance to the world-class surf of The Hook and Pleasure Point. Immediate neighbors include Verve, Penny Ice Creamery, East Side Eatery, and Zameen, with Mad Yolks coming soon next door. Includes shovel-ready plans, engineering, and entitlements to convert the current facility to a modern takeout cafe, adding 80 SF of refrigerated expansion into the rear patio area. Current owners have recently put over $82K into the property, including $18K Plans, $9K Permits, $14K Engineering, $20K Sewer Lateral, plus $21K Structural and Renovation. Possibilities abound to either build out the proposed expansion using the current plans and permits, or keep it simple and re-open the existing facility with basic upgrades and retrofits. Or go big and pursue a multi-story development with mixed-use second level, subject to finalizing proposed terms of a reciprocal parking agreement with one of the neighboring property owners. Stated rents are based on a pro forma rate of $4.50 per SF/NNN on the existing footprint. This is an incredible opportunity for the forward-minded operator seeking to control their own destiny on a piece of some of the most prime real estate in the County.
Location
State CA
County Santa Cruz
Area 699 - Not Defined
Zoning C-2
Interior
Cooling None
Fireplace No
Exterior
Utilities Available Natural Gas Available
Present Use Commercial
Building
Story 1
Water Public
Others
Tax ID 03314123000
Listed by Datta Khalsa • Main Street Realtors
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "