643 Emerson Street, Palo Alto

About the Property Please do not disturb existing tenant or employees with any questions about the property or the listing. A sale will require the seller coordinating a 1031 exchange into a real estate partnership with a group of investors. 5,590 sf not divisible. Existing restaurant tenant would like to extend their lease, we need to consider our options first. No parking on-site. Easy 2 hour street parking, plus City parking for employees is only $75/month in the University Ave area. https://www.cityofpaloalto.org/Departments/Transportation/Parking/Employees Current asking sale price = $6,500,000 $311,882.99 Annually / $25,990.25 Monthly / 5,600 sf = $4.65/sf NNN. Current cams = $2,400 / month / 5,600 sf = $0.43/sf/month. CD-C(GF)(P): Retail, Restaurant, Liquor store. Personal service, trade school, church, studio, classes, school, day care, adult day care/nursing home, kennel, financial service office, business office*, medical office*, club, day care. CUP required: commercial recreation. Development: Hotel, multi-family residential. *public facing office might be permitted on the 1st floor depending on the use, otherwise as part of multi-story development. Zoning Details: CD-C(GF)(P) https://codelibrary.amlegal.com/codes/paloalto/latest/paloalto_ca/0-0-0-78321#JD_Chapter18.18 PAMC 18.18 – See Table 1 for “CD Permitted and Conditionally Permitted Uses” https://codelibrary.amlegal.com/codes/paloalto/latest/paloalto_ca/0-0-0-79270#JD_Chapter18.30B PAMC 18.30(B) – See “Use Limitations and Site Development Regulations” https://codelibrary.amlegal.com/codes/paloalto/latest/paloalto_ca/0-0-0-79295 PAMC 18.30(C) – See “Permitted Uses” & “Conditional Uses” https://codelibrary.amlegal.com/codes/paloalto/latest/paloalto_ca/0-0-0-76370 PAMC 18.04 Definitions of various use categories

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  Square Footage: 5,590 SF

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  Term: Negotiable

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  Lease Rate: $55.80

Highlights