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NEW PRICE - 28 UNIT MOTEL ON 1.84 ACRES 1706 Monterey Hwy

28 Room Hotel San Jose, CA 95112 $6,700,000 ($239,286/Room)

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Investment Highlights

New Price - Rare 28 Unit Motel on a 1.84 AC Parcel | Small Freestanding Individual Units with Parking
Development Opportunity - Combined Industrial/Commercial General Land Use Designation

Approx. 15,000 SF of Unutilized Land Behind Motel | Potential to Add Additional Units
Strong Demographics with Household Incomes in Excess of $109,380 in a 1-Mile Radius

Executive Summary

1706 Monterey Hwy, San Jose is an existing 28-unit motel on 1.84 Acres. The tenant is currently on a month-to-month lease and the entire 1.84 AC site can be made available within 90 days. This Property presents a unique opportunity to purchase or lease a 28-unit motel on 1.84 AC site located on Monterey Hwy just outside of Downtown San Jose. There is approximately 15,000 SF of unutilized land in the back of the motel which allows an investor to potentially add additional units to the existing 28-unit motel. The property is in the Combined Industrial/Commercial General Plan Designation which is intended for commercial or industrial uses, or a compatible mixture of these uses, that support the goals of the combined industrial/commercial general plan designation. The district allows for a broad range of commercial uses with a local or regional market, including big box retail, and a narrower range of industrial uses, primarily industrial park in nature, but including some low-intensity light industrial uses.
*USE LINKS BELOW TO VIEW ALL LISTINGS*
DAVIDTAXIN.COM
https://davidtaxin.com/
DAVID TAXIN – LOOPNET ACCOUNT
https://www.loopnet.com/commercial-real-estate-brokers/profile/david-taxin/pwsjnztb?gclid=Cj0KCQjwgLOiBhC7ARIsAIeetVAqYE7EGdqLvblxv5Z4_VUL8KoM9jsXlcoVb2Nubalp8eZ8Zlx3dBoaAsBPEALw_wcB

1706 Monterey Hwy SJ 03-18-24

Property Facts

Price	$6,700,000	No. Rooms	28
Price Per Room	$239,286	No. Stories	1
Sale Type	Investment	Year Built	1929
Property Type	Hospitality	Tenancy	Single
Property Subtype	Hotel	Parking Ratio	2.27/1,000 SF
Building Class	C	Corridor	Exterior
Lot Size	1.84 AC	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Building Size	19,865 SF

Price	$6,700,000
Price Per Room	$239,286
Sale Type	Investment
Property Type	Hospitality
Property Subtype	Hotel
Building Class	C
Lot Size	1.84 AC
Building Size	19,865 SF
No. Rooms	28
No. Stories	1
Year Built	1929
Tenancy	Single
Parking Ratio	2.27/1,000 SF
Corridor	Exterior
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.