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Seoul Plaza 3148 El Camino Real 15,200 SF 77% Leased Office Building Santa Clara, CA 95051 $9,500,000 ($625/SF) 5.84% Cap Rate
Investment Highlights
- Excellent location on El Camino Real in heart of Koreatown.Easy access to public transportation and major Silicon Valley expressways
- Two-story professional office and retail building with 15,200 square feet
- Ample surface and covered parking with sixty-two available parking spaces
- Prime Silicon Valley area near Apple, Google, and NVIDIA headquarters
- Versatile ground floor retail suites and second floor office spaces.Ideally located in a prolific and high profile commercial corridor.
- High profile monument signage available for maximum business street visibility.Great investment potential in a rapidly developing Santa Clara neighbor
Executive Summary
• Entitlement Potential: We will highlight that the existing 15,200 SF structure is "under-utilized" land. The true value is the ability to demolish and build a 4-6 story mixed-use complex (retail on ground, residential above).
• State Law Leverage: We will utilize Senate Bill 330 (SB 330) and the State Density Bonus Law in our marketing materials to show developers how they can bypass local density caps and increase their unit count, thereby justifying the higher acquisition cost.
• Koreatown Center Hub: This is a "Trophy" location. Proximity to major tech hubs (Apple, Google, NVIDIA) and the center of the Korea Town district creates a "scarcity premium" that traditional Cap Rate math does not account for.
Conclusion
While a current low Cap Rate is a non-starter for income-seeking investors, a $311/SF land cost is a competitive entry point for a developer looking for a signature project in the heart of Silicon Valley’s newest high-density zone.
• State Law Leverage: We will utilize Senate Bill 330 (SB 330) and the State Density Bonus Law in our marketing materials to show developers how they can bypass local density caps and increase their unit count, thereby justifying the higher acquisition cost.
• Koreatown Center Hub: This is a "Trophy" location. Proximity to major tech hubs (Apple, Google, NVIDIA) and the center of the Korea Town district creates a "scarcity premium" that traditional Cap Rate math does not account for.
Conclusion
While a current low Cap Rate is a non-starter for income-seeking investors, a $311/SF land cost is a competitive entry point for a developer looking for a signature project in the heart of Silicon Valley’s newest high-density zone.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$642,732
|
$42.29
|
| Other Income |
$141,002
|
$9.28
|
| Vacancy Loss |
$19,282
|
$1.27
|
| Effective Gross Income |
$764,452
|
$50.29
|
| Taxes |
$93,614
|
$6.16
|
| Operating Expenses |
$116,385
|
$7.66
|
| Total Expenses |
$209,999
|
$13.82
|
| Net Operating Income |
$554,453
|
$36.48
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $642,732 |
| Annual Per SF | $42.29 |
| Other Income | |
|---|---|
| Annual | $141,002 |
| Annual Per SF | $9.28 |
| Vacancy Loss | |
|---|---|
| Annual | $19,282 |
| Annual Per SF | $1.27 |
| Effective Gross Income | |
|---|---|
| Annual | $764,452 |
| Annual Per SF | $50.29 |
| Taxes | |
|---|---|
| Annual | $93,614 |
| Annual Per SF | $6.16 |
| Operating Expenses | |
|---|---|
| Annual | $116,385 |
| Annual Per SF | $7.66 |
| Total Expenses | |
|---|---|
| Annual | $209,999 |
| Annual Per SF | $13.82 |
| Net Operating Income | |
|---|---|
| Annual | $554,453 |
| Annual Per SF | $36.48 |
Property Facts
Sale Type
Investment
Sale Conditions
Property Type
Office
Building Size
15,200 SF
Building Class
B
Year Built
1988
Price
$9,500,000
Price Per SF
$625
Cap Rate
5.84%
NOI
$554,800
Percent Leased
77%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
7,600 SF
Slab To Slab
9’
Building FAR
0.50
Lot Size
0.70 AC
Zoning
CT SC - • Specific Plan Alignment: The City’s revised El Camino Real Specific Plan aims to add up to 8,273 residential units along the corridor, with building
Parking
62 Spaces (4 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Property Manager on Site
- Signage
- Monument Signage
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- A Travel
- Finance and Insurance
- -
- -
- -
- -
- Aqua-Life Pure Water Systems
- Retailer
- -
- -
- -
- -
- Bruce Lee
- Services
- -
- -
- -
- -
- California Specialty Contractors Inc
- Construction
- -
- -
- -
- -
- Jangmozip
- Accommodation and Food Services
- -
- -
- -
- -
- Me Skincare
- Services
- -
- $25.80
- Triple Net
- Jul 2022
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| A Travel | Finance and Insurance | - | - | - | - | |
| Aqua-Life Pure Water Systems | Retailer | - | - | - | - | |
| Bruce Lee | Services | - | - | - | - | |
| California Specialty Contractors Inc | Construction | - | - | - | - | |
| Jangmozip | Accommodation and Food Services | - | - | - | - | |
| Me Skincare | Services | - | $25.80 | Triple Net | Jul 2022 |
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
-Great building signage & visibility on El Camino Real -Newer exterior paint -South side of El Camino Real near Calabazas Blvd
- 2nd Fl-Ste 200
- 1,065 SF
- Office/Medical
- Full Build-Out
- Now
- 2nd Fl-Ste 203-B
- 776 SF
- Office/Medical
- Full Build-Out
- Now
- 2nd Fl-Ste 206
- 440 SF
- Retail
- Full Build-Out
- Now
| Space | Size | Space Use | Condition | Available |
| 1st Fl-Ste 101 | 1,250 SF | Retail | Full Build-Out | Now |
| 2nd Fl-Ste 200 | 1,065 SF | Office/Medical | Full Build-Out | Now |
| 2nd Fl-Ste 203-B | 776 SF | Office/Medical | Full Build-Out | Now |
| 2nd Fl-Ste 206 | 440 SF | Retail | Full Build-Out | Now |
1st Fl-Ste 101
| Size |
| 1,250 SF |
| Space Use |
| Retail |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 200
| Size |
| 1,065 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 203-B
| Size |
| 776 SF |
| Space Use |
| Office/Medical |
| Condition |
| Full Build-Out |
| Available |
| Now |
2nd Fl-Ste 206
| Size |
| 440 SF |
| Space Use |
| Retail |
| Condition |
| Full Build-Out |
| Available |
| Now |
1st Fl-Ste 101
| Size | 1,250 SF |
| Space Use | Retail |
| Condition | Full Build-Out |
| Available | Now |
-Great building signage & visibility on El Camino Real -Newer exterior paint -South side of El Camino Real near Calabazas Blvd
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Moderately walkable
60/100
Exceptionally drivable
90/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 290-04-003 | Total Assessment | $7,959,059 (2025) |
| Land Assessment | $4,881,556 (2025) | Annual Taxes | $93,614 ($6.16/SF) |
| Improvements Assessment | $3,077,503 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
290-04-003
Land Assessment
$4,881,556 (2025)
Improvements Assessment
$3,077,503 (2025)
Total Assessment
$7,959,059 (2025)
Annual Taxes
$93,614 ($6.16/SF)
Tax Year
2026
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Seoul Plaza | 3148 El Camino Real
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