For Sale
$37,000,000

274 Castro St Mtn VwMountain View, CA 94041

Downtown Silicon Valley gem, high ROI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional three-story, 29,466 square foot mixed-use building is located in the heart of Mountain View, California, at 274-282 Castro Street, 94041. Currently 100% occupied with a mix of office and retail tenants, this property offers a compelling value-add opportunity with a strong net operating income (NOI) of $1,834,477 and a 5.00% cap rate. The asking price is $37,000,000, translating to $1,255.68 per square foot. Built in 2001, the building sits on an 11,761 square foot lot (APN: 158-130-044-02, -03) and features open floor plans, light-filled spaces, and elevator service. The ground floor boasts prime storefront access to Castro Street, a major thoroughfare in downtown Mountain View. A city parking lot is conveniently located behind the building. The property benefits from its proximity to Caltrain and El Camino Real Boulevard, providing excellent regional access. An owner-user could potentially occupy up to 17,908 square feet. The current lease structure presents opportunities to increase revenue through lease renewals at market rates ($7-$8/SF) and converting to NNN leases. The property is zoned as a Planned Community, offering potential for future expansion. This investment presents a rare chance to acquire a significant asset in one of the nation's strongest economic markets, the Silicon Valley, with its high concentration of tech companies and low unemployment. The building's location and strong tenant base provide a solid foundation for future growth and value appreciation.

Highlights

  • Three-story, 29,466 SF mixed-use building in downtown Mountain View, CA.
  • Potential to increase building area by adding two floors and a balcony.
  • Prime ground floor Castro Street frontage with convenient rear access to a city parking lot.
  • Elevator service.
  • Owner-user opportunity: 17,908 SF available upon lease expiration.
  • Market rents $7-8/SF; lease conversion potential to NNN.

Property Details for 274 Castro St Mtn Vw

Property type
Retail properties, Office properties
Square Feet
29,466 SF
Year Built
2001
Buildings
1
Stories
3

Location Insight

City
Mountain View
County
Santa Clara
State
California
Latitude
37.39295806
Longitude
-122.07955857
274 Castro St Mtn Vw, Mountain View, California

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274 Castro St Mtn Vw
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