360-368 Castro St 7,123 SF Retail Building Mountain View, CA 94041 $6,180,000 ($867.61/SF) 5% Cap Rate
INVESTMENT HIGHLIGHTS
- Blank Slate 7,123sf building on a sizable 11,250sf lot in the heart of downtown, ready to be molded into whatever you want it to be.
- Owner Users/Entrepreneurs or businesses looking to establish a presence in a high-traffic, affluent area.
- Developers' Opportunities for mixed-use redevelopment to maximize the property’s value.
- Rare Opportunity with the combination of location, outdoor space, and redevelopment potential makes this a rare offering in a competitive market.
- Ideal for Investors seeking long-term capital appreciation and strong rental income potential.
- High Demand Retail and Dining scene is thriving, with Castro Street being a popular destination for locals and visitors alike.
EXECUTIVE SUMMARY
The property at 360-368 Castro Street in Mountain View, California, presents a highly desirable investment opportunity due to its prime location, strong market fundamentals, and potential for value appreciation. The property is a prime asset in one of the most desirable markets in the Bay Area. Its exceptional location, flexible usage options, and strong local demographics make it an excellent opportunity for investors, owner/users, and developers alike. Whether for immediate use or long-term redevelopment, this property is well-positioned to capitalize on the dynamic growth of Mountain View and Silicon Valley. The property has 3 units including 2 Restaurants & 1 Retail previously used as a Hair Salon.
Features:
Prime Location on Castro Street:
Adjacent to a multi-story parking garage, offering convenience for customers and employees. Situated in the heart of Mountain View, a vibrant and affluent community known for its high-quality retail and dining options.
Strong Market Fundamentals:
Retail lease rates in the area are among the highest in the Bay Area, reflecting the desirability of the market. Mountain View is a hub for tech companies and professionals, ensuring a steady flow of foot traffic and demand for retail and dining.
Ample Outdoor Space:
The property offers outdoor space, which is highly sought after for dining, retail, or mixed-use development.
Excellent Connectivity:
Easy access to major highways (Highway 101 & 85) and public transportation, ensuring seamless connectivity to Silicon Valley and beyond.
Flexible Usage Potential:
The property offers owner/user flexibility, making it suitable for a variety of uses, including retail, dining, or mixed-use redevelopment.
Potential for redevelopment into a mixed-use property, combining retail, office, or residential spaces.
Value Appreciation:
Significant potential for long-term capital appreciation due to the property’s location in a high-demand market.
Features:
Prime Location on Castro Street:
Adjacent to a multi-story parking garage, offering convenience for customers and employees. Situated in the heart of Mountain View, a vibrant and affluent community known for its high-quality retail and dining options.
Strong Market Fundamentals:
Retail lease rates in the area are among the highest in the Bay Area, reflecting the desirability of the market. Mountain View is a hub for tech companies and professionals, ensuring a steady flow of foot traffic and demand for retail and dining.
Ample Outdoor Space:
The property offers outdoor space, which is highly sought after for dining, retail, or mixed-use development.
Excellent Connectivity:
Easy access to major highways (Highway 101 & 85) and public transportation, ensuring seamless connectivity to Silicon Valley and beyond.
Flexible Usage Potential:
The property offers owner/user flexibility, making it suitable for a variety of uses, including retail, dining, or mixed-use redevelopment.
Potential for redevelopment into a mixed-use property, combining retail, office, or residential spaces.
Value Appreciation:
Significant potential for long-term capital appreciation due to the property’s location in a high-demand market.
PROPERTY FACTS
Sale Type
Investment NNN
Sale Conditions
Property Type
Retail
Property Subtype
Restaurant
Building Size
7,123 SF
Building Class
C
Year Built
1930
Price
$6,180,000
Price Per SF
$867.61
Cap Rate
5%
NOI
$309,000
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.63
Lot Size
0.26 AC
Zoning
C3DRP, Mountain View
Parking
4 Spaces (0.56 Spaces per 1,000 SF Leased)
Frontage
73’ on Castro St
Walk Score®
Walker's Paradise (97)
Bike Score®
Biker's Paradise (92)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 158-12-055 | Improvements Assessment | $1,637,212 |
| Land Assessment | $562,393 | Total Assessment | $2,199,605 |
