Property profile

10275 Merritt St Castroville, CA 95012

OFF-MARKET
Commercial land
Property ID
US09-3721831
0.29 ac lot
Individually Owned 5-yr Hold Free & Clear
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Property summary

AI-generated overview

This exceptional 0.29-acre commercial lot at 10275 Merritt Street in Castroville, CA, presents a unique investment opportunity. Situated in the heart of the "Artichoke Center of the World," this corner lot boasts a highly visible location within the Merritt Street Corridor Opportunity Area, offering excellent accessibility and three-sided driveway access. The property is zoned for mixed-use, allowing for a variety of development options, including retail, dining establishments, apartments, or mixed-use developments. Established utilities are already in place, simplifying the development process. Its strategic location at the entrance to Highway 156, soon to undergo a lane expansion, and in close proximity to the upcoming Castroville Multimodal Station (a vital transit hub connecting to Silicon Valley), ensures exceptional exposure to a large daily commuter traffic flow. Currently generating income from existing billboard advertising and a food truck lease, this property provides immediate return on investment while offering significant long-term growth potential. The property's prime location, connecting Monterey, Silicon Valley, and the Bay Area, makes it an ideal investment for those seeking to capitalize on Castroville's dynamic growth. The asking price is $600,000.

Property profile

Verified
Property type Commercial land
Use group VACANT COMMERCIAL LAND
Lot 0.29 ac (12,763 SF)
APN 030-128-014-000
UPID US09-3721831

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

10275 Merritt St Castroville, CA 95012-3302
Castroville metro Census 10400 SALINAS, CA METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$270k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$235k

Owner & transaction history

since 2021
Last sale
$234,000
5 recorded transactions
2021
$234,000
2020
Price N/A
2019
Price N/A
2010
Price N/A
2009
Price N/A

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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