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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
$2,696,246 CAD
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 in Lowell, Massachusetts, as a health and beauty product retailer. The company expanded into pharmacy services in 1967 and grew through acquisitions to become a national healthcare provider. Today, CVS operates numerous retail pharmacy locations and walk-in clinics across the United States. The company also offers pharmacy benefit management services and health insurance products through various subsidiaries. CVS has established a significant presence in the healthcare sector by integrating retail, clinical, and insurance services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Retailer | 99,999 SF | - | - |
Walk Score®
Very Walkable (74)
Nearby Major Retailers
Property Taxes
| Parcel Numbers | Improvements Assessment | $7,711,669 CAD | |
| Land Assessment | $10,175,518 CAD | Total Assessment | $17,887,187 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$10,175,518 CAD
Improvements Assessment
$7,711,669 CAD
Total Assessment
$17,887,187 CAD
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Bloom Plaza | 5647-5681 Snell Ave
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