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Key Details
Sold Price $4,000,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML81927084
Sold Date 12/29/23
HOA Y/N No
Year Built 1946
Annual Tax Amount $39,955
Lot Size 4,647 Sqft
Property Description
The property has an excellent location one block off University Avenue in downtown Palo Alto. The building is also a short distance from Stanford University, the Stanford Research Park, and Stanford Shopping Center. The building is configured with two tenant spaces. 127 Lytton Avenue is built out with office space and is currently vacant; 129 Lytton Avenue is leased to Darbar Indian Cuisine through April 2024. The site is one-half block from the Palo Alto Caltrain station and Palo Alto Transit Center, making the property easily accessible from public transit. The transit center has connections to VTA, SamTrans, AC Transit, Dumbarton Express, and Stanford Marguerite buses and shuttles. With one space currently vacant and the other on a short-term lease, the building has appeal to owner/users and value-add investors alike. Additionally, the property has the potential to be redeveloped at a higher density with a commercial or mixed-use project.
Location
State CA
County Santa Clara
Area 699 - Not Defined
Zoning CD-C (P), Downtown Commer
Interior
Heating Central
Fireplace No
Exterior
Roof Type Bitumen,Elastomeric
Present Use Commercial
Building
Story 1
Water Public
Others
Tax ID 12025110
Financing Cash
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Bought with Dianne Millner • Millner Realty