The “Modern Antiquarium” Building 452 Healdsburg Ave 14,840 SF Retail Building Healdsburg, CA 95448 $6,020,167 CAD ($405.67 CAD/SF) 4.10% Cap Rate

452 Healdsburg Avenue is retail/commercial property perfect for an Investor as a Leased Investment or for an Owner-User along with the added potential for redevelopment in the near future.
Modern Antiquarium, an antique store and showroom, currently partially occupies 8,415sf in the Property on an on-going basis since approximately Dec. 2016, and there exists the possibility of further expansion into additional square footage (6,425sf +/-) in the future, if desired.
The Subject Property is comprised of a single legal parcel containing a single-story metal building comprised of approximately 14,840 square feet.
The Property is bounded by Healdsburg Avenue to the west, an adjacent property to the south that is currently seeking approvals for redevelopment, the Mitchell Shopping Center to the east, and a vacant developable property to the north.
The Property has a General Plan land use designation of Downtown Commercial (DC). This land use classification provides for a broad range of commercial and office uses such as hotels, retail, restaurants, and personal services; public and quasi-public uses when compatible with the overall purpose and character of the designation; and similar and compatible uses including mixed-use. Pedestrian-oriented uses on the ground floor are encouraged. The maximum allowable floor area ratio is 2.0 for non-residential uses. Pursuant to the General Plan residential square footage does not count towards the project's FAR. The General Plan for Downtown Commercial provides for a density of between 10 to 16 housing units per acre.
The Property parcel is .34 an acre, and in addition to ground floor commercial uses the site could potentially allow for approximately 13 residential units over the commercial area, and possibly additional residential units with a density bonus taken into consideration given the Property’s close proximity to the town Plaza, and also the nearby planned SMART train station.
In addition, the Property’s inclusion within the SMART Station Area Specific Plan currently being studied may further enhance the redevelopment potential when taking into account one of the study’s stated goals which is to “increase housing supply and density” within ½ mile radius around the future train station.