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1023 Chestnut St

10,765 SF 100% Leased Flex Building Redwood City, CA 94063 $9,654,322 CAD ($897 CAD/SF)

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Executive Summary

Prime Development Opportunity at the Gateway to Redwood City (according to RWC Municipal Code). Across from nearly-completed Broadway Plaza, in the strategic Mixed-Use Corridor (MU-C) zoned area of Redwood City's most recent Strategic General Plan.
Parcel is 0.58 acres. MU-C allows for 80du/ac = 46 potential units + ground floor commercial (buyer to verify).
Complete MU-C Zoning Code: https://library.municode.com/ca/redwood_city/codes/zoning_code?nodeId=ART53MIECOZODI
The property is currently fully leased 10,765 square foot Office/Flex property with upgraded interiors, producing significant cash flow for long term hold or through the planning/permitting process for redevelopment.
Building is within 1 mile of three major mixed-use developments that will bring over 1,500 apartment units and 1,000,000 SF of commercial space:
Broadway Plaza (1401 Broadway Ave) - https://www.redwoodcity.org/city-hall/current-projects/development-projects?id=61
518 Residential Units (For Rent)
420,000 sq. ft. Office
26,000 sq. ft. Retail
Elco Yards (1601 El Camino) - https://www.redwoodcity.org/city-hall/current-projects/development-projects?id=91
540 Residential Units (For Rent)
420,653 sq. ft. Research and Development
109,347 sq. ft. Office
28,841 sq. ft. Retail

1205 Veterans Boulevard - https://www.redwoodcity.org/city-hall/current-projects/development-projects?id=136
409 Residential Units (For Rent)
5,600 sq. ft. Retail

1023 Chestnut Street Flyer (3)

Property Facts

Price	$9,654,322 CAD	Rentable Building Area	10,765 SF
Price Per SF	$897 CAD	No. Stories	1
Sale Type	Investment	Year Built	1948
Property Type	Flex	Parking Ratio	3.44/1,000 SF
Property Subtype	R&D	Clear Ceiling Height	15’
Building Class	B	No. Drive In / Grade-Level Doors	1
Lot Size	0.58 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.

Price	$9,654,322 CAD
Price Per SF	$897 CAD
Sale Type	Investment
Property Type	Flex
Property Subtype	R&D
Building Class	B
Lot Size	0.58 AC
Rentable Building Area	10,765 SF
No. Stories	1
Year Built	1948
Parking Ratio	3.44/1,000 SF
Clear Ceiling Height	15’
No. Drive In / Grade-Level Doors	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.

Amenities

24 Hour Access

Commuter Rail

Air Conditioning

1 of 1

Walk Score®

Very Walkable (89)

Bike Score®

Very Bikeable (80)

What is a Walk Score®, Transit Score® & Bike Score®?

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Transit Score® measures access to public transit.

Bike Score® measures bikeability of a location.

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, Transit Score® & Bike Score?

Walk Score® measures the walkability

of any address. Transit Score®

measures access to public transit. Bike Score®

measures bikeability of a location.®

Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number	053-212-190	Improvements Assessment	$1,062,383 CAD
Land Assessment	$632,898 CAD	Total Assessment	$1,695,281 CAD

PROPERTY TAXES

Parcel Number

053-212-190

Land Assessment

$632,898 CAD

Improvements Assessment

$1,062,383 CAD

Total Assessment

$1,695,281 CAD

zoning

Zoning Code	MU-C (Mixed-Use Corridor (MU-C): Mixture of high-density residential, office and retail with significant vertical development in walkable community)
MU-C (Mixed-Use Corridor (MU-C): Mixture of high-density residential, office and retail with significant vertical development in walkable community)