Available For Sale - Office

42,363 SF | Show Pricing $

AVAILABILITY DETAILS

Size
42,363 SF
Price/SF
Show Pricing $
Listing ID
SA419635
Notes
SVN | Capital West Partners, as exclusive advisor, is pleased to present the outstanding opportunity to acquire the fee simple interest in 1922 The Alameda ("the property"), a four-story multi-tenant office building with subterranean and surface-level parking located in the desirable Rose Garden/Alameda neighborhood of San Jose. Constructed in 1969 with extensive capital improvements performed by the current ownership, which includes a new roof, new HVAC systems, complete restroom renovations on all floors, LED lighting, Title 24 updates (3rd floor), and more. The property is 95% leased to a diverse mix of professional office tenants. The average contract rents are well below the market providing an opportunity for an investor to capture additional value through lease renewals at current market rates. The current CAP rate is 4.65% with a Proforma CAP rate of 5.3% in Year 1 of ownership. Three percent annual increases in the rent.



The property also offers potential for an owner-user buyer to immediately occupy a sizable portion of the building upon close of escrow.



http://properties.svn.com/1922th...
Uses
Office

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Robin Santiago SIOR CCIM, SVN | Capital West Partners
BRE# 01754421