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MOTEL FOR SALE,or Redevelopment 1.8 AC 1706 Monterey Hwy 28 Room Hotel San Jose, CA 95112 $5,981,000 ($213,607/Room)
INVESTMENT HIGHLIGHTS
- Rare 28 Unit Motel on a 1.84 AC Parcel | Small Freestanding Individual Units with Parking
- Development Opportunity - Combined Industrial/Commercial General Land Use Designation
- Large 1.84 AC Parcel
- Strong Demographics with Household Incomes in Excess of $109,380 in a 1-Mile Radius
EXECUTIVE SUMMARY
- RARE 28 UNIT MOTEL/REDEVELOPMENT OPPORTUNITY ON 1.84 AC FOR SALE ...This motel has so much upside, small freestanding cottage units.
- Approximately 15,000 SF of unutilized land in the back of the motel which allows an investor to potentially add additional units to the existing 28-unit motel.
- Combined Industrial/Commercial General Plan Designation which is intended for commercial or industrial uses, or a compatible mixture of these uses, that support the goals of the combined industrial/commercial general plan designation. The district allows for a broad range of commercial uses with a local or regional market, including big box retail, and a narrower range of industrial uses, primarily industrial park in nature, but including some low-intensity light industrial uses.
- Strong Demographics with Household Incomes in Excess of $109,380 in a 1-Mile Radius
- Approximately 15,000 SF of unutilized land in the back of the motel which allows an investor to potentially add additional units to the existing 28-unit motel.
- Combined Industrial/Commercial General Plan Designation which is intended for commercial or industrial uses, or a compatible mixture of these uses, that support the goals of the combined industrial/commercial general plan designation. The district allows for a broad range of commercial uses with a local or regional market, including big box retail, and a narrower range of industrial uses, primarily industrial park in nature, but including some low-intensity light industrial uses.
- Strong Demographics with Household Incomes in Excess of $109,380 in a 1-Mile Radius
PROPERTY FACTS
| Price | $5,981,000 | No. Rooms | 28 |
| Price Per Room | $213,607 | No. Stories | 1 |
| Sale Type | Investment | Year Built | 1929 |
| Property Type | Hospitality | Tenancy | Single |
| Property Subtype | Hotel | Parking Ratio | 2.27/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 1.84 AC | Opportunity Zone |
Yes
|
| Building Size | 19,865 SF | ||
| Zoning | CIC - Combined Industrial/Commercial | ||
| Price | $5,981,000 |
| Price Per Room | $213,607 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.84 AC |
| Building Size | 19,865 SF |
| No. Rooms | 28 |
| No. Stories | 1 |
| Year Built | 1929 |
| Tenancy | Single |
| Parking Ratio | 2.27/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
| Zoning | CIC - Combined Industrial/Commercial |
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Guest Room | 28 | $52.00 | - |
1 1
PROPERTY TAXES
| Parcel Number | 477-24-030 | Improvements Assessment | $223,853 |
| Land Assessment | $376,809 | Total Assessment | $600,662 |
PROPERTY TAXES
Parcel Number
477-24-030
Land Assessment
$376,809
Improvements Assessment
$223,853
Total Assessment
$600,662
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MOTEL FOR SALE,or Redevelopment 1.8 AC | 1706 Monterey Hwy
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