Bloom Plaza | 5647-5681 Snell Ave
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Bloom Plaza 5647-5681 Snell Ave
106,295 SF 100% Leased Retail Building San Jose, CA 95123 For Sale
Investment Highlights
- Generational Piece – Rare Opportunity. First Time on the Market
- Absolute Triple Net Multi-Tenant Leases with Annual Rent Increases
- Transit Oriented Location – Adjacent Snell Avenue VTA Light Rail Station at Hwy 85 & Blossom Hill Off-Ramp
- Fee Simple Title. Multi-Tenant (28) NNN Leased Investment
- No Existing Financing
- Future High Density Urban Village Development Zoning
Executive Summary
Generational Piece – Rare Opportunity. First time on the market. Asking Price: Best Offer
Current Annual NNN Income: $1,949,459* (assumes 100% occupancy as of 11-1-23). 95.6% Leased (4 vacancies), neighborhood center with a diverse mix of 28 tenants. Fee simple title. Multi-tenant (28) NNN leased investment with annual rent increases in shop leases. Absolute triple net multi-tenant leases with annual rent increases. (Tenants reimburse for taxes, insurance and common area fees, plus property management, PLUS 10% Admin fee, parking lot, roof and HVAC repairs & replacement). No existing financing – Buyer can structure new financing that best suits its needs.
106,295 SF Total Building GLA – on 11.2288 Acres Land
Transit oriented location – adjacent Snell Avenue VTA Light Rail Station at Hwy 85 & Blossom Hill off-ramp. Includes 2 below market anchor ground leases: CVS Pharmacy & Pet Club. Significant Upside Potential when 2 anchor ground leases expire. +200% increase in annual NNN income. Long term, well established tenants – Bank of America 51+ yrs., CVS Pharmacy and Save Mart (Pet Club) 48+ yrs., Togo’s & Aqui Restaurant 30+ yrs. E-Commerce resistant tenants – 89% of shops. Tenants are service or restaurant oriented. Future high density Urban Village Development Zoning. Professionally managed property with no deferred maintenance – Absolute NNN asset.
Current Annual NNN Income: $1,949,459* (assumes 100% occupancy as of 11-1-23). 95.6% Leased (4 vacancies), neighborhood center with a diverse mix of 28 tenants. Fee simple title. Multi-tenant (28) NNN leased investment with annual rent increases in shop leases. Absolute triple net multi-tenant leases with annual rent increases. (Tenants reimburse for taxes, insurance and common area fees, plus property management, PLUS 10% Admin fee, parking lot, roof and HVAC repairs & replacement). No existing financing – Buyer can structure new financing that best suits its needs.
106,295 SF Total Building GLA – on 11.2288 Acres Land
Transit oriented location – adjacent Snell Avenue VTA Light Rail Station at Hwy 85 & Blossom Hill off-ramp. Includes 2 below market anchor ground leases: CVS Pharmacy & Pet Club. Significant Upside Potential when 2 anchor ground leases expire. +200% increase in annual NNN income. Long term, well established tenants – Bank of America 51+ yrs., CVS Pharmacy and Save Mart (Pet Club) 48+ yrs., Togo’s & Aqui Restaurant 30+ yrs. E-Commerce resistant tenants – 89% of shops. Tenants are service or restaurant oriented. Future high density Urban Village Development Zoning. Professionally managed property with no deferred maintenance – Absolute NNN asset.
Data Room Click Here to Access
- Third Party Reports
- Title and Insurance
Property Facts Under Contract
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
106,295 SF
Building Class
B
Year Built
1975
NOI
$1,949,459
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.22
Lot Size
11.23 AC
Zoning
C1 - Commercial Neighborhood; 2040 General Plan Urban Village
Parking
5 Spaces per 1,000 SF Leased
Amenities
- Banking
- Bus Line
- Corner Lot
- Restaurant
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Monument Signage
- Air Conditioning
Walk Score ®
Very Walkable (74)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $13,848,271 | |
| Land Assessment | $18,109,194 | Total Assessment | $31,957,465 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$18,109,194
Improvements Assessment
$13,848,271
Total Assessment
$31,957,465
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Bloom Plaza | 5647-5681 Snell Ave
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