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WILLOW GLEN Retail Strip Center 2218-2230 Lincoln Ave 5,520 SF 50% Leased Retail Building San Jose, CA 95125 $3,750,000 ($679.35/SF)
INVESTMENT HIGHLIGHTS
- ±5,520 SF Freestanding Retail Strip Center with 4 Units on a ±14,810 SF Lot with Large Rear Parking Lot
- Owner User Opportunity: 100% of the Building Available for an Owner User to Occupy
- Located One Parcel from the Corner of Lincoln & Curtner Ave
- Taqueria Milagro Restaurant Leasing 2 Adjacent Units (50% of Building) & Lease Can be Terminated with 6 Months Notice After Close of Escrow
- Value Add Opportunity: 6.20% CAP Rate using a Proforma Rent of $3.50 SF NNN
- 1 Mile from Downtown Willow Glen
EXECUTIVE SUMMARY
- ±5,520 SF Freestanding Retail Strip Center with 4 Units on a ±14,810 SF Lot.
- Large Rear Private Parking Lot.
- 50% Leased: Taqueria Milagro a Mexican Restaurant is Currently Leasing 2 Adjacent Units; the Lease allows the Buyer to terminate the tenant’s lease with 6 months’ notice following close of escrow.”
- Owner User Opportunity: 100% of the Building Available for an Owner User to Occupy (50% is Currently Vacant and the other 50% can be made Available 6 months following the close of escrow).
- Value Add Opportunity: 6.20% CAP Rate using a proforma rent of $3.50 SF NNN.
- CP – Commercial Pedestrian Zoning Designation: Allows for Uses such as Retail, Gym, Restaurant, Personal Services, Animal Boarding & Grooming, Office, Medical Office, and many more.
- Located One Parcel from the Corner of Lincoln & Curtner Ave.
- Average Household Income in Excess of $165,000 in a 1-Mile Radius.
- 1 Mile from Downtown Willow Glen.
- Large Rear Private Parking Lot.
- 50% Leased: Taqueria Milagro a Mexican Restaurant is Currently Leasing 2 Adjacent Units; the Lease allows the Buyer to terminate the tenant’s lease with 6 months’ notice following close of escrow.”
- Owner User Opportunity: 100% of the Building Available for an Owner User to Occupy (50% is Currently Vacant and the other 50% can be made Available 6 months following the close of escrow).
- Value Add Opportunity: 6.20% CAP Rate using a proforma rent of $3.50 SF NNN.
- CP – Commercial Pedestrian Zoning Designation: Allows for Uses such as Retail, Gym, Restaurant, Personal Services, Animal Boarding & Grooming, Office, Medical Office, and many more.
- Located One Parcel from the Corner of Lincoln & Curtner Ave.
- Average Household Income in Excess of $165,000 in a 1-Mile Radius.
- 1 Mile from Downtown Willow Glen.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
5,520 SF
Building Class
C
Year Built
1948
Price
$3,750,000
Price Per SF
$679.35
Percent Leased
50%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.37
Lot Size
0.34 AC
Zoning
CP - Commercial Pedestrian
Frontage
123’ on Lincoln Ave
AMENITIES
- Signalized Intersection
Walk Score®
Very Walkable (77)
Bike Score®
Very Bikeable (79)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 439-17-151 | Improvements Assessment | $100,007 |
| Land Assessment | $80,368 | Total Assessment | $180,375 |
PROPERTY TAXES
Parcel Number
439-17-151
Land Assessment
$80,368
Improvements Assessment
$100,007
Total Assessment
$180,375
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WILLOW GLEN Retail Strip Center | 2218-2230 Lincoln Ave
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