1290 Franklin MallSanta Clara, CA 95050

Property Details for 1290 Franklin Mall

Year built

1976

Lot size

0.51 AC

Property size (Sq ft)

8,114 SF

Property type

Retail properties

Property subtype

Lifestyle centers

Description

This exceptional retail investment opportunity presents a fully occupied, four-tenant center totaling 8,114 square feet situated on a 0.51-acre lot in Santa Clara, California. The property, built in 1976 and featuring a single-story building with Downtown Commercial zoning, boasts a diverse tenant mix including a pizza restaurant, tattoo parlor, barber shop, and dry cleaner, all operating under NNN leases. The property enjoys a 100% occupancy rate, generating a substantial net operating income (NOI) of $230,045, representing a 5.94% cap rate at an asking price of $3,875,000 ($477.57/sq ft). The center benefits from its prime location, just blocks from Santa Clara University, ensuring a consistent customer base of students and local residents. Recent lease extensions, including a 10-year extension with a 15% rent bump in 2025 for one tenant and a 5-year extension for another, demonstrate the tenants' commitment and the property's strong performance. The property also features recent capital improvements, including a new roof and HVAC units. The city maintains all landscaping, sidewalks, and common areas, minimizing management responsibilities. This is a rare opportunity to acquire a stable, high-performing retail investment in a thriving Silicon Valley location. The property is offered fee simple with no ground lease.

Location Insight

City

Santa Clara

County

Santa Clara

State

California

Latitude

37.3486

Longitude

-121.948

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