Capitola Redevelopment Site — Sale in Santa Cruz, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Commercial Land
  • Location: Santa Cruz, CA 95062

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Description

3720 Capitola Road is an approximately 0.60-acre redevelopment site located at the corner of Capitola Road and Bulb Avenue in the City of Capitola. The site has a rectangular shape with frontage and access along two streets. The site has an excellent location on a commercial thoroughfare in one of the major shopping destinations in Santa Cruz County. The zoning for the property is Community Commercial, which permits a wide range of personal services, business services, retail sales, and office use. As with most communities in the area, Capitola has a need for more housing. Redevelopment of the site with residential uses is allowed in a mixed-use project, and development of affordable housing would be permitted using state laws such as AB 2011. Additionally, the state density bonus law could be used to build an affordable housing project at a higher density than is permitted under the existing zoning. Investment Highlights: • High visibility infill redevelopment site on Capitola Road • Ideal site for retail, affordable housing, senior living, or hospitality • Walking distance to Target, Whole Foods, New Leaf Community Market, Trader Joe's, CVS, and dozens of restaurants and shops • Near parks, beaches, popular tourist destinations, libraries, and community centers • Capitola Mall was recently re-zoned to allow development of more than 1,700 residential units

Market Context

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