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3501 Portola Dr 1.83 Acres of Commercial Land Offered at $9,378,549 CAD in Santa Cruz, CA 95062

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INVESTMENT HIGHLIGHTS

Level Corner Lot
Development Site

Close to Beach and Services

EXECUTIVE SUMMARY

Assessor shows 79,541± SF parcel currently zoned C-2. On May 20, 2025 the County Board of Supervisors approved rezoning to Residential Flexible (RF-Min). This rezoning is now subject to the California Coastal Commission certifying the Local Coastal Program (LCP-3-SCO-25-0051-Part D). So, while the zoning is currently C-2, once certified by the California Coastal Commission, the zoning will change to high density residential development per RF zoning. Final certification date is unknown at this time. It could occur as early as March 2026, or occur later. It is presumed that the zoning change will eventually be certified. Until certification is finalized, all applications are reviewed under C-2 Zoning, not R-F Min. It appears that a development pre-application submitted prior to CCC certification per SB330 would be subject to C-2 zoning; not R-F Min. See Property Related Materials provided by Broker for more information on RF zoning and the Pleasure Point Corridor. Also, see the hyperlinks below for more info.
There is a Phase II Environmental Report and a Remediation Estimate on file and available for qualified Buyers to review upon execution of a Non Disclosure Agreement.
Carrier income in place. All Tenants are subject to a six month advance written notice termination clause in their Lease.

3501-3513 Portola Dr. FOR SALE

NDA - 3501 Portola Drive

PROPERTY FACTS

Price	$9,378,549 CAD	Property Subtype	Commercial
Sale Type	Investment	Proposed Use	Multifamily Apartment Units Apartment Units - Subsidized Planned Unit Development
Sale Condition	Redevelopment Project	Total Lot Size	1.83 AC
No. Lots	1	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Property Type	Land
Zoning	C-2 - RF - Currently C-2 zoning. On 5/20/25 County LCP rezoned to Residential Flex (RF) expected to be certified by CCC soon. See sales notes for more info.

Price	$9,378,549 CAD
Sale Type	Investment
Sale Condition	Redevelopment Project
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Multifamily Apartment Units Apartment Units - Subsidized Planned Unit Development
Total Lot Size	1.83 AC
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	C-2 - RF - Currently C-2 zoning. On 5/20/25 County LCP rezoned to Residential Flex (RF) expected to be certified by CCC soon. See sales notes for more info.

1 LOT AVAILABLE

Lot

Price	$9,378,549 CAD	Lot Size	1.83 AC
Price Per AC	$5,124,890.22 CAD

Price	$9,378,549 CAD
Price Per AC	$5,124,890.22 CAD
Lot Size	1.83 AC

3501-3513 Portola Drive presents a rare opportunity to acquire a 1.83± acre site close to the beach. Currently zoned C-2, the property currently is improved with multiple older structures used for auto repair.

DESCRIPTION

Development Site for Multi Family, Mixed Use, etc. Level corner lot with existing structures. Contact Agents for more information. Qualified Buyers may sign the Non Disclosure Agreement and receive access to Property Related Materials which include: Environmental Reports, Comparable Sales Info, Existing Financials/Rent Rolls, Leases, Preliminary Title Report, Insurance, Property Condition Reports, HBU analysis, Zoning Information, and more.

LINKS

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Walk Score®

Very Walkable (81)

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(831) 647-2109

CONTACTS

Reuben Helick
Trevor Thorpe
Ben Rumsey
Cushman & Wakefield

Listing ID: 39225550
Date on Market: 2026-01-27
Last Updated:
Address: 3501 Portola Dr, Santa Cruz, CA 95062

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