For Sale
$12,500,000

1190-1214 Norman AveSanta Clara, CA 95054

Two-Building Warehouse, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a two-building, 30,240-square-foot multi-tenant industrial portfolio in Santa Clara, CA. Located within two minutes of Montague Expressway, this property boasts a 6.24% cap rate and a total Net Operating Income (NOI) of $780,606. The portfolio comprises two buildings situated on separate 1.53-acre parcels, each offering unique investment potential. Building 1190-1214 Norman Ave features 13' clear heights, 63 parking spaces, and a NOI of $532,335, with a cap rate of 5.75% and a price per square foot of $459. Building 1250-1262 Norman Ave also offers 13' clear heights, 63 parking spaces, and a NOI of $248,270, with a 5.75% cap rate and a price per square foot of $429. The property is currently 100% occupied, primarily by automotive tenants. Both buildings are zoned for Low Intensity Office/R&D use. This offering presents a rare chance to acquire a high-performing industrial asset in the desirable Bay Area market. The property is offered at $12,500,000, with a price per square foot of $413. Each building can be sold individually or as a combined portfolio. Significant capital improvements were recently completed. Almost all units include private bathrooms.

Highlights

  • $12,500,000 asking price for a two-building industrial portfolio.
  • 30,240 square feet total, with 26 units.
  • 6.24% cap rate, currently 100% occupied.
  • $413 per square foot.
  • Located at 1190-1214 & 1250-1262 Norman Ave, Santa Clara, CA 95054, on a 1.53-acre lot with 63 parking spaces.
  • Features 13' clear height ceilings.

Property Details for 1190-1214 Norman Ave

Property type
Warehouses, Industrial properties
Square Feet
30,240 SF
Buildings
2
Lot Size (sq. ft)
66,647 SF
Units
26

Location Insight

City
Santa Clara
County
Santa Clara
State
California
Latitude
37.3855276
Longitude
-121.9539378
1190-1214 Norman Ave, Santa Clara, California

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1190-1214 Norman Ave
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