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Bloom Plaza 5647-5681 Snell Ave 106,295 SF 99% Leased Retail Building San Jose, CA 95123 For Sale
Investment Highlights
- Generational Piece – Rare Opportunity. First Time on the Market
- Absolute Triple Net Multi-Tenant Leases with Annual Rent Increases
- Transit Oriented Location – Adjacent Snell Avenue VTA Light Rail Station at Hwy 85 & Blossom Hill Off-Ramp
- 100% Leased. Fee Simple Title. Multi-Tenant (28) NNN Leased Investment
- No Existing Financing
- Covered Land Opportunity Future High Density Urban Village Development Zoning
Executive Summary
Generational Piece – Rare Opportunity. First time on the market. Asking Price: Best Offer.
Value Add opportunity when ground leases with Save mart & CVS expire.
100% Leased. Neighborhood center with a diverse mix of 28 tenants. Fee simple title. Multi-tenant (28) Absolute NNN leased investment with annual rent increases in shop leases. Tenants reimburse for taxes, insurance and common area fees, plus property management, PLUS 10% Admin fee, parking lot, roof and HVAC repairs & replacement. No existing financing – Buyer can structure new financing that best suits its needs.
106,295 SF Total Building GLA – on 11.2288 Acres Land.
Transit oriented location – adjacent Snell Avenue VTA Light Rail Station at Hwy 85 & Blossom Hill off-ramp.
2 below market anchor ground leases: CVS Pharmacy & Pet Club. Significant Upside Potential when 2 anchor ground leases expire. +194% increase in annual NNN income. Long term, well established tenants – Bank of America 51+ yrs., CVS Pharmacy and Save Mart (Pet Club) 48+ yrs., Togo’s & Aqui Restaurant 30+ yrs. E-Commerce resistant tenants – 89% of shops. Tenants are service or restaurant oriented.
Covered Land Opportunity: Future high density Urban Village Development Zoning.
Professionally managed property with no deferred maintenance – Absolute NNN asset.
Value Add opportunity when ground leases with Save mart & CVS expire.
100% Leased. Neighborhood center with a diverse mix of 28 tenants. Fee simple title. Multi-tenant (28) Absolute NNN leased investment with annual rent increases in shop leases. Tenants reimburse for taxes, insurance and common area fees, plus property management, PLUS 10% Admin fee, parking lot, roof and HVAC repairs & replacement. No existing financing – Buyer can structure new financing that best suits its needs.
106,295 SF Total Building GLA – on 11.2288 Acres Land.
Transit oriented location – adjacent Snell Avenue VTA Light Rail Station at Hwy 85 & Blossom Hill off-ramp.
2 below market anchor ground leases: CVS Pharmacy & Pet Club. Significant Upside Potential when 2 anchor ground leases expire. +194% increase in annual NNN income. Long term, well established tenants – Bank of America 51+ yrs., CVS Pharmacy and Save Mart (Pet Club) 48+ yrs., Togo’s & Aqui Restaurant 30+ yrs. E-Commerce resistant tenants – 89% of shops. Tenants are service or restaurant oriented.
Covered Land Opportunity: Future high density Urban Village Development Zoning.
Professionally managed property with no deferred maintenance – Absolute NNN asset.
Data Room Click Here to Access
- Third Party Reports
- Title and Insurance
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
106,295 SF
Building Class
B
Year Built/Renovated
1975/1982
NOI
$1,972,310
Percent Leased
99%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.22
Lot Size
11.23 AC
Zoning
C1 - Commercial Neighborhood; 2040 General Plan Urban Village
Frontage
Amenities
- 24 Hour Access
- Banking
- Corner Lot
- Dedicated Turn Lane
- Freeway Visibility
- Restaurant
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Drive Thru
- Wheelchair Accessible
- Monument Signage
- Air Conditioning
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Retailer
-
99,999 SF
- -
- -
CVS Pharmacy began in 1963 as Consumer Value Stores in Lowell, Massachusetts, selling health products. The company expanded into pharmacy services in 1967 and was later acquired by Melville Corporation. Through strategic acquisitions like MinuteClinic and Caremark, CVS grew its healthcare services. The 2018 merger with Aetna made CVS Health a major player in insurance. Today, the company operates pharmacies nationwide, manages pharmacy benefits, and provides health insurance through various subsidiaries.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | 99,999 SF | - | - |
Fairly walkable
40/100
Exceptionally drivable
100/100
Good public transit
70/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $5,681,624 | |
| Land Assessment | $7,496,882 | Total Assessment | $13,178,506 |
Property Taxes
Parcel Numbers
Land Assessment
$7,496,882
Improvements Assessment
$5,681,624
Total Assessment
$13,178,506
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Bloom Plaza | 5647-5681 Snell Ave
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