Price:

$3,400,000

Building Size:

23,966 SF

Price/SF:

$141.87

Property Type:

Retail

Property Sub-type:

Street Retail

Property Use Type:

Investment

Cap Rate:

6%

No. Stories:

2

Tenancy:

Multiple

Lot Size:

0.74 AC

Listing ID

18626033

Highlights

• Mixed-Use Building with Retail on the Ground Floor and Apartments on the Second Floor
• (10) Retail Spaces, 4,200 sq ft Basement, & (13) Apartment Units
• Total Sq Ft: 23,966 (Estimated)
• Part of the Approved “Little Portugal Urban Village” Zone

Description

The subject asset consists of a two-story, woodframe/stucco, mixed-use income producing property with commercial grade tar and gravel roofing. This is a vintage property built in the 1950’s/1960’s. Sale is subject to approval of four beneficiaries.

There are (4) buildings totaling 23,966 sq ft with (10) retail units on the ground floor, (13) apartments on the second floor, and a 4,200 sq ft basement . There is off street parking in front of the retail and covered parking for the apartments at the rear of the property.

The property is located in San Jose on the corner of Alum Rock Ave and 101 with excellent visual exposure. This area has been approved for future Urban Village Plans with height up to 58 feet.

Financial Summary

• Actual
• Net Operating Income
  $197,700