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Walgreens (Subleased) 1130 Foxworthy Ave 14,852 SF Retail Building San Jose, CA 95118 $7,945,000 ($534.94/SF) 7.80% Cap Rate
Investment Highlights
- Exceptional Bay Area Yield: highly attractive return profile for Silicon Valley real estate
- Secured & Active Cash Flow: additional layer of security from an operating business with an under-market sublease
- Strategically positioned in San Jose, one of the most supply-constrained and highly sought-after commercial real estate markets in the United States
- Corporate Tenant: backed by a corporate master lease with Walgreens running through August 2037
- This asset successfully navigated Walgreens’ recent portfolio restructuring. After vacating the space last year, Walgreens opted to execute a sublease
Executive Summary
The subject property features 2012 construction with drive-thru and 117 parking spaces, far exceeding typical downtown standards and ideal for high-traffic zones. Located at a high-visibility, signalized intersection with approximately 26,000 vehicles per day on Almaden Expressway and 7,500 VPD on Foxworthy Avenue.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
14,852 SF
Building Class
B
Year Built
2012
Price
$7,945,000
Price Per SF
$534.94
Cap Rate
7.80%
NOI
$619,476
Tenancy
Single
Building Height
1 Story
Building FAR
0.27
Lot Size
1.25 AC
Zoning
CN(PD)
Parking
117 Spaces (7.88 Spaces per 1,000 SF Leased)
Amenities
- Bus Line
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
- Car Charging Station
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 451-06-074 | Improvements Assessment | $7,893,453 |
| Land Assessment | $4,847,070 | Total Assessment | $12,740,523 |
Property Taxes
Parcel Number
451-06-074
Land Assessment
$4,847,070
Improvements Assessment
$7,893,453
Total Assessment
$12,740,523
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