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    OFF-MARKET
    Commercial land

    10275 Merritt St, Castroville, CA 95012-3302

    0.29 ac lot
    Individually Owned 5-yr Hold Free & Clear
    Property ID
    US09-3721831
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Blend (final) Blend
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    Owner & transaction history
    David Compton · 5 yrs held
    David Compton
    since 2021
    Last sale
    $234,000
    5 recorded transactions
    2021
    $234,000
    2020
    2019
    2010
    2009
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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