10275 Merritt St
0.29 Acres of Commercial Land Offered at $600,000 in Castroville, CA 95012
Investment Highlights
- Prime location at Entrance to Castroville Corridor - Draw traffic from Highway 1 travellers and commuters
- Prior Development plans validate readiness of this lot for Development
- Blank Slate - No old building to remove or remodel, No prior gas tanks to remediate, Good solid flat land with utilities
- Income producing vacant land - Income while you prepare your development project
- Get in now at Value pricing - Transportation projects underway - Increased customer base and profit potential
Executive Summary
Data Room Click Here to Access
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per AC |
---|---|---|
Gross Rental Income | $99,999 | $9.99 |
Other Income | - | - |
Vacancy Loss | - | - |
Effective Gross Income | $99,999 | $9.99 |
Net Operating Income | - | - |
Property Facts
1 Lot Available
Lot
Price | $600,000 |
Price Per AC | $2,049,558.32 |
Lot Size | 0.29 AC |
Zoned Mixed Use in the Castroville Community Plan redevelopment area of Monterey County, this lot is level with utilities at the street. Survey size: 12, 752 sq ft. Previously part of an approved development project. Ask for prior reports.
Description
Incredible opportunity to purchase a prime location in an area poised to increase in value with transportation projects and area redevelopment in progress. Previously part of an approved project, much of the groundwork to level the land, bring utilities to the lot, and geologic and environmental reports was done. A new project may require new reports, however, prior reports demonstrate the viability of this land. Located at the entrance to Castroville from the Highway 1 route connecting the Monterey Peninsula to Santa Cruz and San Jose, this location would be an easy stop off for travelers and commuters. Great opportunity to build a food/beverage franchise with apartments above and secure two steady income streams. Pay property tax holding costs plus extra income via billboard and taco truck leases. Seller will 1031 exchange this property, Buyer to participate, no cost to them. Priced for quick sale. Be one of the first to inquire.
PROPERTY TAXES
Parcel Number | 030-128-014-000 | Improvements Assessment | $0 |
Land Assessment | $243,453 | Total Assessment | $243,453 |
zoning
Zoning Code | Mixed Use (Zoned Mixed Use in the Castroville Community Plan redevelopment area of Monterey County) |