MLS® ID: 40882752
457 23Rd St
RICHMOND, California, 94804 $1,600,000
This property is being sold together with 435 and 445 23rd Street (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 lot includes a small 600 sf building and currently houses a car sales and smog check business. The 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.