Description
85,944 square foot parcel (1.97acres) located near the intersection of E. Lake Ave and Holohan Rd, one of the busiest intersections in Watsonville. Includes a 5,500 sq. ft. building leased to Farmers Market for 10 years beginning 01/31/2020, with 10 year option. Lease rate is $10,404 per month plus 50% of property taxes ($4,125+/-) and all operating expenses. The lease covers the building and parking area excluding approximately 20,000 sq. ft. for future development for a new buyer. The listing price is based on a 5.5 CAP plus $200,000 for the potential undeveloped remaining land.
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0BEDS
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1.97ACRES
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0BATHS
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01/2 BATHS
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100SQFT
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$22,000$/SQFT
School Ratings & Info
Listing provided courtesy of William Lewis of Lewis Real Estate: 831-429-9200.
Description
85,944 square foot parcel (1.97acres) located near the intersection of E. Lake Ave and Holohan Rd, one of the busiest intersections in Watsonville. Includes a 5,500 sq. ft. building leased to Farmers Market for 10 years beginning 01/31/2020, with 10 year option. Lease rate is $10,404 per month plus 50% of property taxes ($4,125+/-) and all operating expenses. The lease covers the building and parking area excluding approximately 20,000 sq. ft. for future development for a new buyer. The listing price is based on a 5.5 CAP plus $200,000 for the potential undeveloped remaining land.
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