885-899 1St StSan Jose, CA 95110

Property Details for 885-899 1St St

Property size (Sq ft)

7,250 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

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.

Location Insight

City

San Jose

County

Santa Clara

State

California

Latitude

37.3228

Longitude

-121.881

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