100% Leased Mixed Use Property-7.40% Cap Rate | 885-889 S 1st St
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
100% Leased Mixed Use Property-7.40% Cap Rate 885-889 S 1st St
7,250 SF 100% Leased Retail Building San Jose, CA 95110 $6,605,094 CAD ($911.05 CAD/SF) 7.39% Cap Rate
INVESTMENT HIGHLIGHTS
- High profile location on signalized corner
- Easy to manage building with all tenants current on rent
- Residential units are all fully furnished
- Both the residential and commercial units are highly improved
EXECUTIVE SUMMARY
HEART OF SAN JOSE - 2 BUILDING OFFERING - 100% LEASED MIXED USE PROPERTY - 5 RESIDENTAIL UNITS & 3 COMMERCIAL UNITS
1. Combined building size is 7,250 square feet (5,250 sf & 2,000 sf)
2. Buildings must be sold together
3. Cap rate on 889-899 S. First Street is 7.20%
4. Cap rate on the smaller 885 S. 1st Street building is 7.90%
5. Prime signalized corner
6. Excellent 1031 Exchange property and long term investment
7. All apartments are on a month to month lease basis
8. The Fitness tenant lease ends in 9/31/2026 & the Event Space lease expires 9/30/2029
9. Buyer has the right to terminate the long term leases within 90 days of purchasing the property
10. The investment could be an excellent development opportunity
1. Combined building size is 7,250 square feet (5,250 sf & 2,000 sf)
2. Buildings must be sold together
3. Cap rate on 889-899 S. First Street is 7.20%
4. Cap rate on the smaller 885 S. 1st Street building is 7.90%
5. Prime signalized corner
6. Excellent 1031 Exchange property and long term investment
7. All apartments are on a month to month lease basis
8. The Fitness tenant lease ends in 9/31/2026 & the Event Space lease expires 9/30/2029
9. Buyer has the right to terminate the long term leases within 90 days of purchasing the property
10. The investment could be an excellent development opportunity
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
7,250 SF
Building Class
C
Year Built
1972
Price
$6,605,094 CAD
Price Per SF
$911.05 CAD
Cap Rate
7.39%
NOI
$488,116 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.72
Lot Size
0.23 AC
Zoning
MUC -Mixed Use Commercial - Zoning allows for a wide range of retail and office use including restaurants, veterinary clinic, medical office, and mixed use development
Parking
9 Spaces (1.24 Spaces per 1,000 SF Leased)
Frontage
33’ on South 1st Street
Walk Score®
Very Walkable (88)
Bike Score®
Very Bikeable (89)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 264-36-074 | Total Assessment | $1,736,978 CAD (2023) |
| Land Assessment | $1,157,986 CAD (2023) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $578,993 CAD (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
264-36-074
Land Assessment
$1,157,986 CAD (2023)
Improvements Assessment
$578,993 CAD (2023)
Total Assessment
$1,736,978 CAD (2023)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
1 of 23
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Presented by
100% Leased Mixed Use Property-7.40% Cap Rate | 885-889 S 1st St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.