1705 Story Road, San Jose, CA 95122; Sold Retail Property; 1/8 in Santa Clara County

1705 Story Road, San Jose, CA 95122; Sold Retail Property; 1/8 in Santa Clara County


Sold Retail Property in Santa Clara County – 1705 Story Road,

San Jose, CA 95122 1/8

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1705 Story Road, San Jose, CA 95122

Sale Information

Sale Status: Sold
Sale Date: 08/24/2012
Sale Price: $5,600,000 ($782.67/SF)
Cap Rate: 7.30% (At Time Of Listing)
Listing Price: $5,995,000

Property Details

Property Type:Retail
Property Sub-type: Super Regional Center
Building Size: 7,155 SF
Lot Size: 0.41 Acres
APN / Parcel ID: 481-38-054

Property Description
* GREAT INVESTMENT PROPERTY WITH EXCEPTIONALLY ATTRACTIVE CAP RATE (7.3%). * TOP FORTUNE 500 CO. TENANTS (AT&T AND CHASE BANK) ON EXTENDED LEASE. STABLE INCOME; * LOCATED AT ONE OF MOST HIGHLY VISIBLE & HEAVY PEDESTRIAN TRAFFIC CORNERS OF STORY & KINGS ROADS, * 100% LEASED, 10 YEAR LEASE WITH TWO 5 YEARS OPTIONS. * TRIPLE NET LEASE WITH 28 PARKING SPACES. * 10% RENT ESCALATION AT THE END OF 5 YR ORIGINAL LEASE. * PROPERTY HAS RECENTLY & COMPLETELY BEEN REMODEL & UPGRADED, LOW MAINTENANCE. * PLEASE CALL / EMAIL LISTING AGENT FOR DETAILS. SELLER MOTIVATED, WON’T LAST

Parties to Transaction
Seller:
DTM INVESTMENT INC

 

Buyer:
HUI, VE C
604 Mission St #8 San Francisco, CA
Broker:
REMAX BEVERLY HILLS
CHARLES LE
Financing Comments
Sale involved mortgage financing. Lender identified as EAST WEST BK.