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2064 Lincoln Ave 7,600 SF Retail Building San Jose, CA 95125 $3,080,000 ($405.26/SF) 5.50% Cap Rate
Investment Highlights
- Rare Silicon Valley Investment Opportunity in the highly affluent and desirable Willow Glen / Lincoln Avenue corridor in San Jose, CA
- Dense / High Income - Affluent Silicon Valley Location - The AHHI is over $167,000. 645,000 residents live within a 5-mile radius
- Low Rents / Future Upside - with $21 PSF average in place rents, nearby rental survey shows rents ranging from $31 to $60 PSF along Lincoln Ave
- Long Term Operator - Brannon’s Medical (Lessee) is a successful long term operator (50+ years) at this location. Waived right to terminate lease.
- Nationally Traded Parent Company - Brannon’s Medical is a wholly owned subsidiary of AdaptHealth NASDAQ (AHCO) with $3.5B in revenue
- NNN Lease – minimal Landlord responsibilities; ideal 1031 exchange opportunity
Executive Summary
Price: $3,080,000
Net Operating Income: $169,428 / Avg $1.86 PSF
Description: Low rent single-tenant NNN asset on a prime infill signalized corner within the affluent Willow Glen neighborhood in San Jose
Tenant: Brannon's Rental and Sales, Inc. a subsidiary of AdaptHealth (NASDAQ: AHCO)
Term: 5 Years (recently waived one time termination right)
Scheduled Rental Increases: 3% Annually
Net Operating Income: $169,428 / Avg $1.86 PSF
Description: Low rent single-tenant NNN asset on a prime infill signalized corner within the affluent Willow Glen neighborhood in San Jose
Tenant: Brannon's Rental and Sales, Inc. a subsidiary of AdaptHealth (NASDAQ: AHCO)
Term: 5 Years (recently waived one time termination right)
Scheduled Rental Increases: 3% Annually
Property Facts
Sale Type
Investment NNN
Sale Condition
1031 Exchange
Property Type
Retail
Property Subtype
Building Size
7,600 SF
Building Class
C
Year Built
1956
Price
$3,080,000
Price Per SF
$405.26
Cap Rate
5.50%
NOI
$169,400
Tenancy
Single
Building Height
1 Story
Building FAR
0.46
Lot Size
0.38 AC
Zoning
C1 - Mixed-use allowed
Parking
15 Spaces (1.97 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Signage
- Signalized Intersection
Fairly walkable
50/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 439-16-099 | Improvements Assessment | $424,483 |
| Land Assessment | $944,475 | Total Assessment | $1,368,958 |
Property Taxes
Parcel Number
439-16-099
Land Assessment
$944,475
Improvements Assessment
$424,483
Total Assessment
$1,368,958
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2064 Lincoln Ave
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