1706 Monterey Hwy - Hospitality FOR SALE


San Jose, CA 95112
$6,700,000 USD
408-966-5919
1706 Monterey Hwy, San Jose, CA for Sale
$6,700,000 USD
Hospitality - FOR SALE
1/14
null | Request Cap Rate

1706 Monterey Hwy
San Jose, CA 95112


HIGHLIGHTS

  • New Price - Rare 28 Unit Motel on a 1.84 AC Parcel | Small Freestanding Individual Units with Parking
  • Approx. 15,000 SF of Unutilized Land Behind Motel | Potential to Add Additional Units
  • Development Opportunity - Combined Industrial/Commercial General Land Use Designation
  • Strong Demographics with Household Incomes in Excess of $109,380 in a 1-Mile Radius

OVERVIEW

1706 Monterey Hwy, San Jose is an existing 28-unit motel on 1.84 Acres. The tenant is currently on a month-to-month lease and the entire 1.84 AC site can be made available within 90 days. This Property presents a unique opportunity to purchase or lease a 28-unit motel on 1.84 AC site located on Monterey Hwy just outside of Downtown San Jose. There is approximately 15,000 SF of unutilized land in the back of the motel which allows an investor to potentially add additional units to the existing 28-unit motel. The property is in the Combined Industrial/Commercial General Plan Designation which is intended for commercial or industrial uses, or a compatible mixture of these uses, that support the goals of the combined industrial/commercial general plan designation. The district allows for a broad range of commercial uses with a local or regional market, including big box retail, and a narrower range of industrial uses, primarily industrial park in nature, but including some low-intensity light industrial uses. *USE LINKS BELOW TO VIEW ALL LISTINGS* DAVIDTAXIN.COM https://davidtaxin.com/ DAVID TAXIN – LOOPNET ACCOUNT https://www.loopnet.com/commercial-real-estate-brokers/profile/david-taxin/pwsjnztb?gclid=Cj0KCQjwgLOiBhC7ARIsAIeetVAqYE7EGdqLvblxv5Z4_VUL8KoM9jsXlcoVb2Nubalp8eZ8Zlx3dBoaAsBPEALw_wcB

FOR SALE DETAILS

PRICE

$6,700,000 USD

PRICE/SF

$337 USD /SF

# OF ROOMS

28

PRICE/ROOM

$239,286 {currency}

CAP RATE

Request Cap Rate

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

NEW PRICE - 28 UNIT MOTEL ON 1.84 ACRES

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1929

PARKING SPACES

45

LAND DETAILS

LAND ACRES

1.84 AC

LAND SF

80,150 SF

ZONING

MH

APN/PARCEL ID

477-24-030

ASK ABOUT THIS PROPERTY

David TaxinMeacham OppenheimerMore Info
408-966-5919

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

David TaxinMeacham OppenheimerMore Info
408-966-5919

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.