La Mission Center | 5489-5491 Snell Ave
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La Mission Center 5489-5491 Snell Ave
20,520 SF 100% Leased Retail Building San Jose, CA 95123 £4,294,086 (£209/SF) 4.94% Net Initial Yield
Investment Highlights
- Convenient location, close to Hwy-85 @ Blossom Hill Rd.
- Annualized rent increases for most Tenant's
- Possible future redevelopment (check with City)
- Below market rents offer upside potential
- Long history of stable Tenant's
- Same local, family Owner/Property Manager for over 42 years
Executive Summary
R.G. Matusich & Associates, Inc. is pleased to exclusively offer for Sale an approximately 20,520 Square Foot Twelve (12) Tenant neighborhood strip retail center strategically located at the intersection of Snell Avenue and Giuffrida Avenue, One Block North of Blossom Hill Road. This rare opportunity includes Three (3) contiguous parcels of +/- 1.80 Acres of prime land. Located in the heart of Silicon Valley, the subject property is located in the established and densely populated Santa Clara County community of South San Jose, California. This Southbay location has excellent visibility and access from north and south Snell Avenue and close proximity to Highway-85, in the densely populated Blossom Valley/Santa Teresa neighborhoods of San Jose. La Mission Center is known for its iconic oversized Mission Bell nestled in its original green tower.
Address: 5475, 5489, and 5499 San Jose, CA 95123
Parcel Numbers: 464-13-039; 464-13-040; 464-13-041
Gross Leasable Area: +/- 20,520 SF
Property Type: Community/Neighborhood Retail
No. Stories: One (1)
No. Buildings: Three (3)
Zoning: C2 (CN - Commercial Neighborhood)
Year Built: 1969/1970
Lot Size: +/- 1.80 AC (+/- 78,408 SF)
Parking Spaces: 63 (Buyer to verify)
*Buyer to verify all information per county records for all square footages and all lot/parcel sizes.
-5475 Snell Ave. consists of single-use Tenant, with an +/- 3,510 SF free-standing building.
-5499 Snell Ave. consists of a single-use Tenant, with an +/- 2,720 SF free-standing building.
-5489 Snell Ave. consists of an +/- 14,746 SF Multi-Tenant strip center with Ten (10) Tenants.
-All spaces have been historically 100% occupied, with very little vacancy, and some Tenants leasing for over Thirty (30) years.
-Two (2) of Twelve (12) Tenants are on a Gross Lease. All others are on a NNN Lease.
All Three (3) parcels with all Three (3) Buildings are being sold together.
*DO NOT DISTURB TENANTS
**OM (OFFERING MEMORANDUM) AVAILABLE
Address: 5475, 5489, and 5499 San Jose, CA 95123
Parcel Numbers: 464-13-039; 464-13-040; 464-13-041
Gross Leasable Area: +/- 20,520 SF
Property Type: Community/Neighborhood Retail
No. Stories: One (1)
No. Buildings: Three (3)
Zoning: C2 (CN - Commercial Neighborhood)
Year Built: 1969/1970
Lot Size: +/- 1.80 AC (+/- 78,408 SF)
Parking Spaces: 63 (Buyer to verify)
*Buyer to verify all information per county records for all square footages and all lot/parcel sizes.
-5475 Snell Ave. consists of single-use Tenant, with an +/- 3,510 SF free-standing building.
-5499 Snell Ave. consists of a single-use Tenant, with an +/- 2,720 SF free-standing building.
-5489 Snell Ave. consists of an +/- 14,746 SF Multi-Tenant strip center with Ten (10) Tenants.
-All spaces have been historically 100% occupied, with very little vacancy, and some Tenants leasing for over Thirty (30) years.
-Two (2) of Twelve (12) Tenants are on a Gross Lease. All others are on a NNN Lease.
All Three (3) parcels with all Three (3) Buildings are being sold together.
*DO NOT DISTURB TENANTS
**OM (OFFERING MEMORANDUM) AVAILABLE
Data Room Click Here to Access
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
20,520 SF
Building Class
B
Year Built
1969
Price
£4,294,086
Price Per SF
£209
Net Initial Yield
4.94%
NOI
£212,289
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.26
Lot Size
1.80 AC
Zoning
C2 - CN - Commercial Neighborhood (C2)
Parking
63 Spaces (3.07 Spaces per 1,000 SF Leased)
Frontage
283 ft on Snell
Amenities
- Pylon Sign
- Restaurant
- Signage
- Signalised Intersection
- Tenant Controlled HVAC
- Monument Signage
- Air Conditioning
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £1,440,854 | |
| Land Assessment | £851,389 | Total Assessment | £2,292,243 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£851,389
Improvements Assessment
£1,440,854
Total Assessment
£2,292,243
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La Mission Center | 5489-5491 Snell Ave
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