Editor: There are changes afoot in north-west OB, particularly at the corner of Abbott and Voltaire. Here is Matthew Wood’s latest report.
OB Rag Confirms Pat’s Liquor Up for Sale
By Matthew Wood
The long-vacant lot at the southeast corner of Voltaire and Abbott Streets has just been recently sold, which may spark a domino effect of land sales on that corner.
Ray Adams, of Cassidy Turley Commercial Real Estate, confirmed the two lots had been sold for $635,000. The lots are 2,500 square feet each – 5,000 square feet total – and are zoned for residential housing. The Keen Family Trust was the seller.
He said the lots could probably be used for a maximum of three units.
“You probably can’t build any more there,” he said.
Adams also confirmed the cottages adjacent to and east of the empty lot that was just sold were on the market, property also owned by the Keen Family Trust. The asking price for the four lots – with seven cottages and five garages – is $1.6 million. The cottages are in a gated or fenced complex, which currently has a “For Rent” sign outside asking for $1,200 a month for one of the units.
“It’s a cash-flow investment property,” Adams said of the future of the cottages. “There’s a lot of value in the existing units.”
Pat’s Liquor for Sale
Directly across Voltaire from the vacant lot is Pat’s Liquor. And the OB Rag has confirmed that the property is also for sale.
Dan Ryan, of Coldwell Bank, said the 10,000 square feet of land from the corner to the alley is on the market for $1.545 million. That land includes the old market, a fixture in the neighborhood for at least the past 50 years at 5096 Voltaire Street.
“He’s asking a lot for it and nobody’s making an offer,” said store owner Basil Zetouna referring to the property owner.
Ryan said the land would probably be zoned for six condo units if and when it sells, but “we don’t have any plans or permits yet.”
Zetouna said he has a lease on Pat’s Liquor Store for the next three years, so nothing is imminent. He told me:
“I’m still in negotiation with them. I would love to stay.”
“I know we have talked to some people who don’t want the liquor store there,” he said. “I said, ‘Buy it and close it.’”
Zetouna also owns Abbott Street Market just down the block at 2074 Abbott St., as well as the building, and said he has no plans to close that store. He said his dream would be to one day move into the space above the store.
“That’s gonna be my retirement,” he said. “I would love to live that close to the beach. It would be like Hawaii every day for me.”