Two underused commercial properties near the main entrance to downtown Davis could have a more high-profile future.
The properties at 102 and 114 E St., houses converted into offices, recently traded hands to Ashok Patel, who owns several other retail and motel/hotel properties in Davis.
“They don’t have a grand design yet, but I’m sure they’ll come up with one,” said Gray, who brokered the sale with Nahz Anvary of DTZ. “As far as a highest and best use, it would be an enhanced redevelopment upgrade.”
Both houses, on parcels totalling .34 of an acre, were built when the city was a railroad town, long before the university arrived. One was a dental practice but is now vacant; the other still houses about a half-dozen professional offices, Gray said.
However, the site’s proximity to a downtown parking structure and a city-owned driveway, as well as a Whole Foods and movie theater, could mean it has strong potential for a mixed-use project with some combination of retail, office and residential, he and Anvary said.
“One of the things the city is trying to do is recognize that the downtown is only so big,” Anvary said. “So they’re trying to encourage redevelopment.”
Gray said a mixed-use project on the site could be attached to the city’s parking structure. And the houses themselves, while not part of any city registry for preservation, could be moved to another site for continued use, he said.
Ben van der Meer covers real estate, development, construction, transportation and the business of sports for the Sacramento Business Journal.