526-540 Soquel Avenue, SANTA CRUZ, CA 95062 (MLS # ML81992548)
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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.
| LAST UPDATED | 2/17/2025 | YEAR BUILT | 1938 |
|---|---|---|---|
| COUNTY | Santa Cruz | STATUS | Active |
| PROPERTY TYPE(S) | Commercial |
| ADDITIONAL DETAILS | |
| BASEMENT | Finished, Yes |
|---|---|
| HEAT | Forced Air, Natural Gas |
| INTERIOR | Vaulted Ceiling(s) |
| LOT | 0.68 acre(s) |
| LOT DIMENSIONS | 29622.00 |
| PARKING | Off Street |
| SEWER | Public Sewer |
| STORIES | 1 |
| WATER | Public |
| ZONING | CC |
TOTAL MONTHLY PAYMENT
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Based on information from MLSListings MLS as of 5/9/25 7:11 AM PDT. 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.
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