3 ACRE PARCEL - Heart of Silicon Valley | 550 Showers Dr
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3 ACRE PARCEL - Heart of Silicon Valley 550 Showers Dr
39,400 SF 100% Leased Retail Building Mountain View, CA 94040 £4,734,000 (£120/SF)
Investment Highlights
- Prime Location
- Strong Leaseholder
- New Development Nearby
Executive Summary
*PRICE ADJUSTMENT* Located in the city of Mountain View CA, the heart of Silicon Valley, this 3-Acre parcel, subject to a ground lease, is the perfect opportunity for an investor. A total of 39,400 square feet of building sit on a 135,471 square foot lot as a portion of the San Antonio Center.
The price for the leased fee interest in this prime 3.11-acre parcel is $6 million at $44 per square foot ($1.93M/AC) on the land. There is unlimited upside and potential for future use. At the end of the lease term, the owner shall assume all income, leases, and responsibilities related to the tenants on the given parcel. Once the lease expires, there’s great potential to capitalize long-term on land value appreciation at this heavily discounted rate.
Federal Realty Investment Trust (NYSE: FRT) is currently the leaseholder and manager of the whole center, with 32 years left on the lease. Tenants currently residing on the parcel include 24 Hour Fitness, Sola Salon, and Trader Joe’s. Federal Realty manages assets totaling approximately $11 billion. This figure includes its extensive portfolio of retail and mixed-use properties across major metropolitan areas.
The price for the leased fee interest in this prime 3.11-acre parcel is $6 million at $44 per square foot ($1.93M/AC) on the land. There is unlimited upside and potential for future use. At the end of the lease term, the owner shall assume all income, leases, and responsibilities related to the tenants on the given parcel. Once the lease expires, there’s great potential to capitalize long-term on land value appreciation at this heavily discounted rate.
Federal Realty Investment Trust (NYSE: FRT) is currently the leaseholder and manager of the whole center, with 32 years left on the lease. Tenants currently residing on the parcel include 24 Hour Fitness, Sola Salon, and Trader Joe’s. Federal Realty manages assets totaling approximately $11 billion. This figure includes its extensive portfolio of retail and mixed-use properties across major metropolitan areas.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
39,400 SF
Building Class
B
Year Built/Renovated
1964/2022
Price
£4,734,000
Price Per SF
£120
Percent Leased
100%
Number of Floors
1
Building FAR
0.29
Land Acres
3.11 AC
Zoning
P-40 - Precise Plan - Mixed Use Center Subarea
Amenities
- Air Conditioning
Walk Score ®
Very Walkable (83)
Bike Score ®
Biker's Paradise (93)
Nearby Major Retailers
![[solidcore]](https://images.loopnet.co.uk/i2/X1DfwMFhQUJtrEvdN0O4PHppb1UchnIXcAPoILYKKzI/105/image.jpg "[solidcore]")
PROPERTY TAXES
| Parcel Number | 148-22-016 | Improvements Assessment | £5,986,351 |
| Land Assessment | £4,865,197 | Total Assessment | £10,851,548 |
PROPERTY TAXES
Parcel Number
148-22-016
Land Assessment
£4,865,197
Improvements Assessment
£5,986,351
Total Assessment
£10,851,548
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3 ACRE PARCEL - Heart of Silicon Valley | 550 Showers Dr
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