2470 S Winchester Blvd 6,986 SF 100% Leased Office Building Campbell, CA 95008 $4,150,720 CAD ($594.15 CAD/SF)

2470 S. Winchester Boulevard is an approximately 0.62-acre site currently improved with a multi-tenant office building. The site has the potential to be redeveloped at a density of 100 dwelling units per acre due to its proximity to the VTA light rail Winchester Station. The property is located less than one-quarter mile from a VTA light rail stop, making it eligible for redevelopment under Senate Bill 79. The property is designated as a Tier 2 site and can be developed with a mixed-use project up to 65 feet in height with a density of 100 dwelling units per acre; it must have a minimum 3.0 residential floor area ratio.
The site is priced well below current entitled land values in the area (contact agent for details). Currently, the building is 100% leased to five tenants. All of the tenants have leases or options that expire within the next five years. This provides an incredible opportunity to acquire a cash flowing asset below land value while pursuing development approvals. The City of Campbell identified the property as a Housing Opportunity Site in its Housing Element update in 2023. This makes redevelopment of the site important to the city being able to meet their housing production requirements. Campbell received an allocation of 2,977 housing units in the latest Regional Housing Needs Allocation.