Sold Retail Property in Santa Clara County – 1029 S Bascom Ave,

San Jose, CA 95128 2/10

1029 S Bascom Ave, San Jose, CA 95128 

Sold information

Sale Status: Sold
Sale Date: 04/14/2014
Sale Price: $2,120,000 ($268.02/SF)
Cap Rate: 6.00% (At Time Of Listing)
Listing Price: $2,190,000

Property Details

Property Type: Retail
Property Sub-type: Strip Center
Building Size: 7,910 SF
Lot Size: 0.57 Acres
APN / Parcel ID: 282-11-017

Property Description

EXISTING IMPROVEMENTS CONSIST OF A 7910 SQ FOOT STRIP RETAIL CENTER CURRENTLY DIVIDED INTO 5 SPACES FROM 2800 SQ FT TO 1000 SQ FT THE OWNER OCCUPIES 51% AND THE OTHER THREE SPACES ARE OCCUPIED BY TWO TENANTS ON A 24,860 SQ FOOT PARCEL WITH 113 FEET OF FRONTAGE AND PARKING IN FRONT AND THE REAR PARKING AREA IS OPEN AND APROXIMATELY 100 FT DEEP BY 105 FEET WIDE. GREAT OWNER USER FOR MEDICAL RELATED FIELDS AS OWNER WILL VACATE HIS 4200 SQ FOOT SPACE AT CLOSE OF ESCROW. CAP RATE IS BASED ON PROJECTED NET OPERATING INCOME AT $1.50 PER FOOT. CURRENT AVERAGE RENT IS $1.38 PER FOOT.