Monday, May 20, 2019 11:31 PM Development Opportunity for Sale | 3135 San Pablo Avenue | THG Commercial

Development Opportunity for Sale | 3135 San Pablo Avenue

Address

HIGHLIGHTS

  • 5,000 sqft vacant lot
  • zoned CC-2
  • 60′ height limit.
  • Located in Qualified Zone (see below)
  • Zoning Overlay: Green zoning for legal marijuana retail and delivery sales.
  • Zoning Overlay: Emergency Homeless Shelter By-Right.  
  • Can accommodate 14 market rate units or 28 rooming units.
  • Community Foods  https://communityfoodsmarket.com/   to be developed two lots down.

QUALIFIED OPPORTUNITY ZONE

The IRS defines a Qualified Opportunity Zone (QOZ) as an economically-distressed community where new investments, under certain conditions, may be eligible for preferential tax treatment. Opportunity Zones are designed to spur economic development by providing tax benefits to investors. First, investors can defer tax on any prior gains until the earlier of the date on which an

investment is sold or exchanged, or December 31, 2026, so long as the gain is reinvested in a Qualified Opportunity Fund (QOF). Second, if the investor holds the investment in the Opportunity Fund for at least ten years, the investor would be eligible for an increase in basis equal to the fair market value of the investment on the date that the investment is sold or exchanged.

  • These incentives will allow a taxpayer to receive tax deferral on a capital gain for the earlier of 12/31/2026 or disposition of the QOF.
  • The gain property does NOT have to be Real Estate.
  • There is a basis increase on the deferred amount of up to 15%. • Tax-free gains on QOZ investments held for 10 or more years.
  • An investor has 180 days from the date of disposition to reinvest the gain amount with a cash investment into a Qualified Opportunity Fund.
  • Substantial improvements must be done to the property within 30 months of the acquisition.
  • A Qualified Opportunity Fund is an investment vehicle that must hold at least 90% of its assets in QOZ property.
  • Late 2018, the Internal Revenue Service will be issuing a form that will allow taxpayers to self-certify as a QOF.

Flyer

Carlos Ramirez

Lic. 01353542
carlos@thgcommercial.com

Direct +1 415 318 2602