5150 Graves AveSan Jose, CA 95129

  • Healthcare properties
  • 14,628 SF
For Sale
$7,488,000 View listing

Property Details for 5150 Graves Ave

Year built
1964
Lot size
0.30 AC
Property size (Sq ft)
14,628 SF
Property type
Healthcare properties
Property subtype
Other office properties

Description

This exceptional investment opportunity presents two, two-story medical office buildings totaling 14,628 square feet situated on a 0.3-acre lot in San Jose, CA (95129). The property, known as West Valley Professional Center - Buildings 11 & 12, boasts 16 units with 96% occupancy and a current NOI of $337,897, translating to a 4.51% cap rate. A pro-forma NOI of $382,690 projects a 5.11% cap rate, showcasing significant value-add potential. Built in 1964, these well-maintained buildings feature a multi-tenant lease structure (gross lease type) with a diverse mix of 16 medical and dental tenants. The property benefits from a prime location in West San Jose, conveniently close to shopping, dining, and other retail amenities. Rent increases are tied to CPI, with a minimum 3% and maximum 5% annual adjustment. The permitted zoning is PD, and the net rentable square footage is 14,155 square feet, with an asking price of $7,488,000 ($511.89 per square foot). This presents a compelling opportunity for investors seeking a stable, high-performing medical office portfolio in a thriving Silicon Valley location. The property's strong tenant base, favorable lease terms, and significant upside potential make it an attractive investment.

5150 Graves Ave, San Jose, California

Location Insight

City
San Jose
County
Santa Clara
State
California
Latitude
37.2935
Longitude
-121.993

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