Generational Piece – Rare Opportunity. First time on the market. Asking Price: Best Offer
Current Annual NNN Income: $1,949,459* (assumes 100% occupancy as of 11-1-23). 95.6% Leased (4 vacancies), neighborhood center with a diverse mix of 28 tenants. Fee simple title. Multi-tenant (28) NNN leased investment with annual rent increases in shop leases. Absolute triple net multi-tenant leases with annual rent increases. (Tenants reimburse for taxes, insurance and common area fees, plus property management, PLUS 10% Admin fee, parking lot, roof and HVAC repairs & replacement). No existing financing – Buyer can structure new financing that best suits its needs.
106,295 SF Total Building GLA – on 11.2288 Acres Land
Transit oriented location – adjacent Snell Avenue VTA Light Rail Station at Hwy 85 & Blossom Hill off-ramp. Includes 2 below market anchor ground leases: CVS Pharmacy & Pet Club. Significant Upside Potential when 2 anchor ground leases expire. +200% increase in annual NNN income. Long term, well established tenants – Bank of America 51+ yrs., CVS Pharmacy and Save Mart (Pet Club) 48+ yrs., Togo’s & Aqui Restaurant 30+ yrs. E-Commerce resistant tenants – 89% of shops. Tenants are service or restaurant oriented. Future high density Urban Village Development Zoning. Professionally managed property with no deferred maintenance – Absolute NNN asset.