While the three storefronts at 1815-1819 Market Street are currently leased to Destino, Izakay Roku and Sushi Zone, Destino’s lease expires in August and the leases for the other two restaurants are set to end in the first quarter of 2020.
The 4,480-square-foot parcel at the corner of Pearl, upon which the three restaurants currently sit, is zoned for development up to 85 feet in height.
And with that in mind, the three-storefront building, which was recently put on the market with a $4.1 million price tag, is now in contract to be sold. We’ll keep you posted and plugged-in.
Comments from Plugged-In Readers
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Forty-one million dollars per acre. Dang. Housing shortages don’t benefit anybody but the incumbents.
Four-point-one million, not forty-one.
An area of 4,480 sq. ft is about 1/10th of an acre. 4.1 million times ten is 41 million. 41 million an acre is correct.
$39,865,240.80 if the numbers stated are exact…which or course I doubt, so let’s say +/- $40M.
I designed a mixed use project for this site way back in 1984, but it never went beyond preliminary design. The developer did go through on the building we designed for the other side of the Market/Pearl intersection.
As much as I like those restaurants, one story commercial buildings are a waste there, and it’d be great to see more housing. I just hope they let the restaurants stay until the demolition. There are other projects on the Market corridor where they’ve cleared out the retail but haven’t really started building up.
Sushi Zone is a neighborhood gem, I hope they find a new spot.