947-957 Park Ave
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947-957 Park Ave
4,410 SF 100% Leased Retail Building San Jose, CA 95126 £1,222,950 (£277/SF) 5.59% Net Initial Yield
Investment Highlights
- Fantastic, Mixed-Use Investment or Owner/User Opportunity
- Walkable Sunol-Midtown Location with Great Transportation Access
- 3 Residential Units + 2 Ground Floor Retail Spaces
Executive Summary
Fantastic opportunity for an owner-user looking for a prime retail space or investor searching for a low expense building, with high historic occupancy, immediate cash flow, and upside potential.
Prime commuter location in the Sunol-Midtown neighborhood. Minutes from I-880, I-280, and Highways 87 & 17. This opportunity is
walking distance to just about everything (94 Walk Score & 86 Bike Score) and minutes from 5 major rail stations. The subject property is also less than a mile away from Valley Fair, Santa Row, a plethora of restaurants, and grocery stores. Downtown San Jose is only a 25
minute walk and a 5 minute drive away, where a number of dinning, entertainment, and shopping options can be found.
The subject property features 3 residential units that include: (2) 1-bedroom, 1-bathroom units, (1) 2-bedroom, 1-bathroom unit, and
approx. 2,200 SF of ground floor retail, split between two suites. Many upgrades were completed throughout the years, including
upgraded electrical, 2018 retail upgrades (floors & AC), new water heaters, and more.
There is a back structure that may be perfect for potential ADU conversion. The structure has plumbing, which could also generate
immediate income through laundry. Buyers must research and verify ADU feasibility.
Prime commuter location in the Sunol-Midtown neighborhood. Minutes from I-880, I-280, and Highways 87 & 17. This opportunity is
walking distance to just about everything (94 Walk Score & 86 Bike Score) and minutes from 5 major rail stations. The subject property is also less than a mile away from Valley Fair, Santa Row, a plethora of restaurants, and grocery stores. Downtown San Jose is only a 25
minute walk and a 5 minute drive away, where a number of dinning, entertainment, and shopping options can be found.
The subject property features 3 residential units that include: (2) 1-bedroom, 1-bathroom units, (1) 2-bedroom, 1-bathroom unit, and
approx. 2,200 SF of ground floor retail, split between two suites. Many upgrades were completed throughout the years, including
upgraded electrical, 2018 retail upgrades (floors & AC), new water heaters, and more.
There is a back structure that may be perfect for potential ADU conversion. The structure has plumbing, which could also generate
immediate income through laundry. Buyers must research and verify ADU feasibility.
Data Room Click Here to Access
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,410 SF
Building Class
C
Year Built
1950
Price
£1,222,950
Price Per SF
£277
Net Initial Yield
5.59%
NOI
£68,353
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Building FAR
1.01
Land Acres
0.10 AC
Zoning
M1, San Jose
Parking
3 Spaces (0.68 Spaces per 1,000 SF Leased)
Frontage
42 ft on Park Ave
Walk Score ®
Walker's Paradise (94)
Bike Score ®
Very Bikeable (86)
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 261-31-058 | Improvements Assessment | £779,168 |
Land Assessment | £305,198 | Total Assessment | £1,084,366 |
PROPERTY TAXES
Parcel Number
261-31-058
Land Assessment
£305,198
Improvements Assessment
£779,168
Total Assessment
£1,084,366
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