For Sale
$4,995,000

885-899 1St StSan Jose, CA 95110

High-yield, 100% occupied multifamily & retail.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional mixed-use investment property, located at 885-899 S 1st St, San Jose, CA 95110, presents a compelling opportunity in a rapidly growing area near San Jose State University. The property comprises two buildings totaling 7,250 square feet on a 10,018 square foot lot, offering a blend of stable income and significant upside potential. Building one, at 899 South 1st Street, encompasses a five-unit residential complex with ground-floor retail space currently leased to a fitness tenant, along with a separate office/retail building. Building two, situated at 885 South 1st Street, is a 2,000 square foot single-story retail space currently operating as an event space/karaoke lounge. The property boasts eight tenants under gross leases, providing a 6.28% cap rate and 100% occupancy. Nine parking spaces are available for tenants and customers. Short-term leases offer flexibility for future repositioning or redevelopment within this vibrant San Jose location. The property's prime corner location and proximity to San Jose State University contribute to its strong rental demand and long-term value appreciation. This is a fully leased fee simple interest investment opportunity with significant potential for future growth.

Highlights

  • 899 South 1st St.: 5-unit residential building with ground-floor retail (fitness tenant) plus a separate 5,250 SF office/retail building at 15 Oak Street.
  • 885 South 1st St.: 2,000 SF single-story retail building, currently leased as an event space/karaoke lounge.
  • Nine off-street parking spaces available.
  • Fully leased with short-term leases.

Property Details for 885-899 1St St

Property type
Retail properties, Retail space
Square Feet
7,250 SF
Buildings
2
Units
8

Location Insight

City
San Jose
County
Santa Clara
State
California
Latitude
37.3228166
Longitude
-121.8806755
885-899 1St St, San Jose, California

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885-899 1St St
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