420 Oakmead PkwySunnyvale, CA 94085

Property Details for 420 Oakmead Pkwy

Property size (Sq ft)

31,068 SF

Property type

Industrial properties

Property subtype

Life science properties

Description

This exceptional Class B industrial R&D building, located at 420 Oakmead Pkwy, Sunnyvale, CA 94085, offers 31,068 square feet on a 47,045 square foot lot. Situated in the heart of Silicon Valley, this property boasts a prime location, just 1.5 miles from major tech companies like Nvidia, Apple, Applied Materials, and Intuit. Its proximity to Levi Stadium, San Jose Airport (6 miles), Stanford University (20-minute drive), and San Francisco (45-minute drive) adds significant value. The building is currently listed at $10,000,000, representing a substantial discount below appraised value. The property is zoned MI and is offered with a sale-leaseback opportunity. The lease terms include a 3-year initial lease with two 1-year renewal options at a rate of $1.50 per square foot, NNN. The seller retains the option to repurchase the building at its appraised value at any point during the lease term. This single-tenant property presents a unique investment opportunity for a buyer seeking a strategic location and a favorable leaseback arrangement. The lease commencement date is October 31, 2024, and expiration is October 31, 2027. The cap rate is 5.50%.

Location Insight

City

Sunnyvale

County

Santa Clara

State

California

Latitude

37.3811

Longitude

-121.988

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