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3995 Smith St - Mixed Use Development Opportunity
1.15 Acres of Residential Land Offered at £4,303,475 in Union City, CA 94587
Investment Highlights
- Signalized corner with a combined 35,000+ VPD
- Very favorable zoning for residential, commercial or mixed use developments
- Current income of $4,375/month from the office tenants who are all on month to month leases (see OM for rent roll).
- Priced to sell at only $4.78m/acre
- FAR is up to 1.5 for mixed use developments
Executive Summary
1. Asking Price is $5,500,000 (only $4.78m/Acre)
2. Prime signalized corner
3. Traffic count on Union City Boulevard is over 23,000 VPD
4. Hard to find 1+ acre site
5. All tenants in the 4,477 sf office building are month to month
6. Very favorable development standards, with a 1.5 FAR for mixed use development
7. Up to 50 foot height limit
Property Facts
| Price | £4,303,475 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 1.15 AC |
| Price | £4,303,475 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 1.15 AC |
1 Lot Available
Lot
| Price | £4,303,475 | Lot Size | 1.15 AC |
| Price Per AC | £3,742,152 |
| Price | £4,303,475 |
| Price Per AC | £3,742,152 |
| Lot Size | 1.15 AC |
Located on the signalized corner of Union City Boulevard and Smith Street. This property offers excellent development opportunity at the very reasonable price of $4.78m/Acre. The property offers high visibility and access for any kind of development
Description
Avison Young is pleased to present the offering for a prime development site in the heart of Union City at the intersection of Union City Boulevard and Smith Street. This 1.15 acre site is zoned Village Mixed Use (VMU) and allows for residential, commercial or mixed use developments. Please refer to the offering package for all development standards and allowed uses.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £12,001 | |
| Land Assessment | £1,243,475 | Total Assessment | £1,255,476 |
PROPERTY TAXES
zoning
| Zoning Code | VMU (VMU zoning district is to create neighborhood-serving commercial centers. Mixed use residential development is allowed to support the commercial uses.) |
| VMU (VMU zoning district is to create neighborhood-serving commercial centers. Mixed use residential development is allowed to support the commercial uses.) |
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Lloyd Bakan -
Jon Geary -
Avison Young
Presented by
3995 Smith St - Mixed Use Development Opportunity
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