Amazing investment opportunity with conceptual plans in burgeoning "West End" section of Sand City. 13,200 s/f commercial building on over 26,000 s/f lot covering 2 major corners in town.
Amazing investment opportunity with conceptual plans in burgeoning "West End" section of Sand City. 13,200 s/f commercial building on over 26,000 s/f lot covering 2 major corners in town.
Property Highlights
- 26,250 s/f parcel covering 3 streets in high growth district
- 800 s/f office space with room for growth
- 13,200 total s/f
- Conceptual plans for 5 story mixed-use, 15 unit building
- 12,400 s/f of warehouse space
- Ceilings over 20 ft high
Property Description
This project is located in the dynamic "West End" area of rapidly growing Sand City. This area has become well known for its live/work, urban environment focus and has become a major center for the art and design community. Currently, nearing completion just a few blocks away is Design Center Monterey Peninsula "http://www.designcenter-mp.com" which will be major marketplace for the building trades and the Public. It will showcase high-end design products, upscale building materials and professional services.(see links at top of page) This development and several others are igniting the rapid growth in this centrally located costal community. This project is currently, sitting on a 26,250 s/f parcel comprised of three separate structures totaling 13,200 s/f. The buildings are in various stages of lease, all with flexible terms. Conceptual plans have been created by local renowned architect, Eric Miller, for a stunning 5 story mixed-use, 15 + unit building featuring contemporary loft units with Monterey Bay and coastline views. When approved and completed, this structure will become the West End's focal point with millions of visitors to The Monterey Peninsula admiring as they pass by along Highway one. The project was designed in two phases to take advantage of the existing 92 fixture units of water with the balance of the project to complete once Sand City's desalination plant comes on line in 2008. This is a very rare opportunity to control a substantial part of this dynamic area, with leased investment cash flow until final approvals are in place.
For Sale
$3,500,000
MLS#: 734356
