Description
Newmark is pleased to present the opportunity to acquire a 100% fee simple interest in 1804 Bay Road in East Palo Alto, California (Assessors Parcel 063-231-240). The property is fully entitled under the State Density Bonus Law, SB 35, for the development of a 102,753 gross square foot ( 73,000 net rentable) mixed-use project consisting of 75 residential rental units with the possibility to go to 95 units and approximately 1,900 square feet of retail space. HOWEVER, IF THE PROPERTY IS DEVELOPED FOR AN AFFORDABLE HOUSING DEVELOPMENT PROJECT, THERE IS NO LIMIT ON DENSITY (PLUS AN ADDITIONAL 3 MORE STORIES CAN BE CONSTRUCTED). CALL FOR ADDITIONAL INFORMATION. The property is strategically located in the future heart of Downtown East Palo Alto, near Facebook and Amazon, in the center of proposed future development of 60,000 square of new retail space, 2.5 million square feet of new office, 1.4 million square feet of Life Science and 126,000 square feet of civic/community-oriented space.
Location
"All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed."
Updated: 25th March, 2023 6:37 AM (UTC)
IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information is deemed reliable but not guaranteed.
The listing broker’s offer of compensation is made only to participants of the MLS where the listing is filed."
Updated: 25th March, 2023 6:37 AM (UTC)
Listing Agent: Juan De Leon
Listing Office: Cornish & Carey Commercial
