10685 Merritt St Castroville, CA 95012-3312

Exceptional investment opportunity in Castroville, CA, featuring three retail buildings totaling 4,836 square feet on a 14,400 square foot lot. This multi-tenant property boasts 100% occupancy with a strong 7.20% cap rate and an asking price of $1,600,000 ($118.06/sq ft). The buildings, constructed in 1949 and extensively renovated in 2014, include a mix of retail spaces, currently occupied by three tenants under a modified lease with five years remaining. The property includes 20 shared parking spaces in a private lot currently undergoing resurfacing and improvements. Located at 10685 Merritt St., this property benefits from abundant street parking and a prime location directly across from the new Phil's Fish Market. The property includes two parcels (APN: 030-161-008, 030-161-012), which may be sold together or separately. Building sizes are approximately 2,070 sq ft, 1,433 sq ft, and 1,333 sq ft. A new roof was installed on all three buildings in 2022. The property is zoned CP (Community Plan). Seller financing is available.