AutoZone Anchored Strip Center
14,000 SF | 100% Leased | Retail Building | San Jose, CA 95111 | $5,100,000 ($364/SF) | 6.09% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $5,100,000
- Property Type
-
Retail
- Square Feet
- 14,000 SF
- Price / Square Foot
- $364
Listing Contacts
David Taxin
Verified Profile
Austin Chaparro
Verified Profile
Grant Messinger
Verified Profile
- Property Info
Property Overview
• 5272 Monterey Hwy is a ±14,000 SF NNN rare, 4-unit strip center anchored by AutoZone
(NYSE: AZO), a Fortune 300 company, Edenvale Liquors, Cloud9/Cricket Wireless, and Sol
De Nayarit Mexican restaurant. The subject property is on one parcel, with an average
rent of $1.89 per square foot, which is well below the market rate for Monterey Rd.
• This center is part of a multi-owner shopping center, and the building is approximately
2/3 of a 24,000 SF, eight tenant building.
• The center recently completed major interior and exterior improvements. These
improvements include a new asphalt shingle mansard roof, an updated façade and
exterior paint, new tenant signage, asphalt slurry and re-striping, and a renovated waste
system.
• Located in one of the highest barrier-to-entry markets in Silicon Valley, the property is
zoned for Neighborhood/Community Commercial use. The current price per square foot
is below current replacement costs. The shopping center is strategically positioned on
the highly trafficked Monterey Highway.
• The rear 0.5 Acre lot provides a potential value-add opportunity to build additional
square footage or establish a ground lease.
(NYSE: AZO), a Fortune 300 company, Edenvale Liquors, Cloud9/Cricket Wireless, and Sol
De Nayarit Mexican restaurant. The subject property is on one parcel, with an average
rent of $1.89 per square foot, which is well below the market rate for Monterey Rd.
• This center is part of a multi-owner shopping center, and the building is approximately
2/3 of a 24,000 SF, eight tenant building.
• The center recently completed major interior and exterior improvements. These
improvements include a new asphalt shingle mansard roof, an updated façade and
exterior paint, new tenant signage, asphalt slurry and re-striping, and a renovated waste
system.
• Located in one of the highest barrier-to-entry markets in Silicon Valley, the property is
zoned for Neighborhood/Community Commercial use. The current price per square foot
is below current replacement costs. The shopping center is strategically positioned on
the highly trafficked Monterey Highway.
• The rear 0.5 Acre lot provides a potential value-add opportunity to build additional
square footage or establish a ground lease.
Property Details
- Class
- C
- Year Built
- 1964
- Stories
- 1
- Lot Size (sq. ft)
- 57,064 SF
Highlights
- ±14,000 SF NNN rare, 4-unit strip center anchored by AutoZone (NYSE: AZO), a Fortune 300 company
- Strategically positioned on the highly trafficked Monterey Highway - Minutes from 101
- Strong Demographics with Average Household Incomes in Excess of $171,000 in a 3-Mile Radius
- The center recently completed major interior and exterior improvements
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