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7383 Thornton Ave, Newark, CA, USA

Price: $780,000 ($481/square feet)

Status: Sold on February 2022

7383 Thornton Ave, Newark, CA 94560

Executive Summary

*** Fixer upper with huge upside potential ***

The Ivy Group is pleased to offer FOR SALE a free standing, single story commercial building located in Newark, CA. This is a rare opportunity for a buyer to own a piece of real estate asset in a supply constrained market. Attractive SBA financing is available for qualified buyers with as little as 10% down payment.

The property is ± 1,620 square feet situated on ± 9,248 square feet lot. Thirteen on site parking spaces are dedicated to the property. Additional street parking along Thornton Avenue and Sycamore Street are available on a first come, first served basis.

Zoned Commercial Mixed Use (CMU), the property was built in 1924 and constructed of framed clear heart redwood with stucco exterior built on concrete foundation (with crawl space below). Unique trims, eaves and appliqués over the entry give this property a distinctive and elegant look. Interiorly, the property features ± 14 feet high ceilings, multiple entrances / exits and bonus mezzanine storage. The most recent use was restaurant but the flexible zoning can support a variety of retail as well as office uses. The property is served by public gas, water and power.

Located within minutes away from highways 84 and 880, the property is conveniently surrounded by residential homes, shopping centers, as well as numerous high tech companies.

Offering Memorandum
Due Diligence

Highlights

  • Building Size

    1,620 square feet

  • Lot Size

    9,248 square feet (± 0.21 acres)

  • Year Built

    1924

  • Power

    120/240 V, 100 A (buyer to verify)

  • Zoning

    Commercial Mixed Use (CMU)

  • Use

    Restaurant, retail, office

  • Freeway Access

    Convenient access to Dumbarton Bridge and freeways 84 & 880

  • Bus Stop

    Walking distance to major bus stops and public transportation nodes

  • Parking

    13 on site spaces, plus additional street parking

  • APN

    92-41-3-2

  • Ceiling Height

    ± 14 feet