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Rare 5,520 SF Retail Strip Center For Sale 2218-2230 Lincoln Ave 5,520 SF 50% Leased Retail Building San Jose, CA 95125 $4,659,298 CAD ($844.08 CAD/SF)
Executive Summary
RARE ±5,520 SF 4 UNIT RETAIL STRIP CENTER FOR SALE IN WILLOW GLEN - OWNER USER/INVESTMENT OPPORTUNITY
- ±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: 6.82% 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.
HIGH BARRIER TO ENTRY LOCATION WILLOW GLEN
- 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.
- ±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: 6.82% 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.
HIGH BARRIER TO ENTRY LOCATION WILLOW GLEN
- 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
$4,659,298 CAD
Price Per SF
$844.08 CAD
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
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 439-17-151 | Improvements Assessment | $136,715 CAD |
| Land Assessment | $109,867 CAD | Total Assessment | $246,582 CAD |
Property Taxes
Parcel Number
439-17-151
Land Assessment
$109,867 CAD
Improvements Assessment
$136,715 CAD
Total Assessment
$246,582 CAD
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Rare 5,520 SF Retail Strip Center For Sale | 2218-2230 Lincoln Ave
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