MLS® ID: 40882753
435 23Rd St
RICHMOND, California, 94804 $1,800,000
This property is being sold together with 445 and 457 23rd Street (see the separate listings) for the full price of $1,800,000. Great development opportunity, for owner/user, or investor. Property can be delivered vacant at close of escrow or used to produce reliable income. Decent income producer with approx. 4.5% CAP rate and room for rent increases. The 3 lots provide approximately 19,687 sf of land on a major thoroughfare. This is the largest lot and includes a building housing a grocery store and an auto repair business. The three (3) businesses straddle the lot lines. Per the City of Richmond, the ZONING for these 3 parcels is CM-5 Commercial Mixed-Use, Activity Center. This district is intended for mid- and high-rise mixed-use development at major activity centers (i.e., Richmond Civic Center, BART) to serve the community, residents, and businesses in the San Francisco Bay Area. Office, retail, entertainment and residential uses are allowed.