100 2Nd StSan Jose, CA 95113

Property Details for 100 2Nd St

Year built

2008

Lot size

0.06 AC

Property size (Sq ft)

5,200 SF

Zone code

DC

Property type

Retail space

APN

467-64-005

APU

46764005

Description

Exceptional opportunity to acquire a 24,090 square foot retail center in the heart of downtown San Jose, California. This property, recently re-priced at $5,500,000 for a quick sale (based on a 30-day close), boasts a prime location just blocks from San Jose State University, across from the Hammer Theater Center and the Downtown San Jose Public Library, and adjacent to a VTA train stop. Previously occupied by The Market by Safeway, this second-generation grocery space offers five units and benefits from excellent demographics and high traffic counts. Situated on the first floor of a 23-story residential condo complex, the property provides access to a captive audience of 197 residential units and 100-150 parking spaces in an attached underground garage. The asking price of $228.31 per square foot presents a compelling investment opportunity in a thriving urban environment. This high-profile retail space offers significant potential for a variety of uses, capitalizing on its central location and strong surrounding community. The property's size and location make it an ideal investment for those seeking a high-impact retail presence in a dynamic and growing city.

• CAP approach

  CAP return

  Valuation

  6%

  $2,959,206

  6.5%

  $2,731,575

  7%

  $2,536,462

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,654,837

  Geo Method

  $3,654,837

• Alternative Use

  Use

  Valuation

  Residential

  $2,304,186

  Hospitality

  $2,110,622

  Educational

  $1,756,012

  Medical

  $1,816,404

  Retail

  $2,731,575

Location Insight

City

San Jose

County

Santa Clara

State

California

Latitude

37.3345

Longitude

-121.887

CBSA code

41940

CBSA name

SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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