$1,050,000
$1,475,000
28.8%For more information regarding the value of a property, please contact us for a free consultation.
1.7 Acres Lot
SOLD DATE : 05/10/2017
Key Details
Sold Price $1,050,000
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Sold
Purchase Type For Sale
MLS Listing ID CC332928
Sold Date 05/10/17
HOA Y/N No
Lot Size 1.700 Acres
Property Description
Zoned CG (General Commercial) one of the last remaining undeveloped sites on 16th Street (formerly Highway 99). Has 436 of frontage (with curb & Gutter) on 16th and is 170' deep. West 16th is a major east west arterial and a primary commercial corridor. Property is adjacent to Merced`s Dining and Entertainment District and within close proximity to and easy access to / from to Freeway 99. Only two parcels removed from R Street (also a major North South arterial connecting 99 to North Merced). Ideal location for auto related businesses such as tire stores, auto parts, body shops etc. also great location for commercial strip center with restaurant. Property is located directly East of the `Carnerceria Vallarta' market ( 1010 West 16th St.). Owners will sell, do a long term ground lease or a build to suit. One of owners is a licensed real estate broker in the state of California.
There are two freestanding bilboards on the property that currently generate $4,800 (i.e. $2,400 / sign) annually for ground rent. Ground lease stipulates that the lease can be terminated by Landlord and Tenant has to remove the signs within 90 days of written notice by Landlord.
Location
State CA
County Merced
Zoning Commercial
Interior
Fireplace No
Exterior
Fence Chain Link, Good Condition
Building
Lot Description Lot Over 40000 Sqft, Near Public Transit, Rectangular Lot, Level
Others
Tax ID 031173004
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange, Lease Option, Owner May Carry, Submit
Listing Terms Cash, Cash to New Loan, 1031 Exchange, Lease Option, Owner May Carry, Submit
Financing Cash
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with General NONMEMBER • CRMLS
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "
880 Roosevelt Suite 250, Irvine, California, 92620, United States