Multi-Tenant Office Building Near Light
For Sale
$2,975,000
2470 S Winchester Blvd, Campbell, CA 95008
Fully leased office property with five tenants and transit-oriented redevelopment parameters.
Property Size6,986 SF
Lot Size0.62 Acres
Price / SF$480.23
Days on Market93
Property Features for 2470 S Winchester Blvd
General Information
Standard status
Active
Size
6,986 SF
Lot size
0.62 Acres
Property subtype
Office
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Public Transit
Yes
Additional Details
Land Use
commercial, mixed-use, residential
Amenities
Site is less than one-quarter mile to a VTA light rail station and can be redeveloped with up to 100 units per acre under SB 79
Incredible covered land investment opportunity priced well below entitled land cost
Property has been identified by the city in their Housing Element as a Housing Opportunity Site
Currently 100% leased to five tenants with most on short-term leases
Located directly across from a grocery-anchored shopping center; less than one mile to restaurants and shops in Downtown Campbell
Building Details
Building Size
6,986 SF
Year Built
1980
Buildings
1
Tenancy
Multi
Listing Agency:
Palo Alto Office
Listed By:
Josh Johnson · License #License(s): CA: 01930127
(650) 391-1784
Source:
Marcusmillichap
Added: Aug 2
Changed: Oct 26
Last Checked: Nov 1 at 2:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Palo Alto Office
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Investment Insights
Based on property information with market context.
This 6,986 SF office building, constructed in 1980, occupies an approximately 0.62-acre site and is leased to five tenants. Existing leases and options are scheduled to expire within the next 5 years, providing a defined timeline for future repositioning or redevelopment review.
The property is less than 1/4 mile from a VTA light rail stop on the Green Line and is designated as a Tier 2 site. Under the stated redevelopment parameters, the site may support a mixed-use project up to 65 feet in height, with a minimum 3.0 residential floor area ratio and potential density of 100 dwelling units per acre. It has also been identified by the City as a Housing Opportunity Site in its 2023 Housing Element update. The property is approximately 1/2 mile from the Highway-17 and San Tomas Expressway interchange and offers access to employment centers in central San Jose, Los Gatos, Santa Clara, and Cupertino.
The property is less than 1/4 mile from a VTA light rail stop on the Green Line and is designated as a Tier 2 site. Under the stated redevelopment parameters, the site may support a mixed-use project up to 65 feet in height, with a minimum 3.0 residential floor area ratio and potential density of 100 dwelling units per acre. It has also been identified by the City as a Housing Opportunity Site in its 2023 Housing Element update. The property is approximately 1/2 mile from the Highway-17 and San Tomas Expressway interchange and offers access to employment centers in central San Jose, Los Gatos, Santa Clara, and Cupertino.
Key Highlights
- Approximately 0.62‑acre site improved with a 6,986 SF multi‑tenant office building
- 100% leased to 5 tenants; leases or options expire within the next 5 years
- Less than 1/4 mile from Winchester Station on the VTA Green Line
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$217,935
Cap Rate
7.33%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,358,700
$4.4M
Cap Rate 7%
$3,113,357
$3.1M
Cap Rate 9%
$2,421,500
$2.4M
Market Conditions
NOI Build-Up for 6,195 SF
Gross rent
$347.2K $56.04/SF
− Vacancy
−$56.6K −$9.13/SF
EGI
$290.6K $46.91/SF
− OpEx
−$72.6K −$11.73/SF
NOI
$217.9K $35.18/SF
Area
Santa Clara County, CA
Vacancy
16.30%
Lease Rate
$56.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,358,700
Cap Rate 7%
$3,113,357
Cap Rate 9%
$2,421,500
Alternative Uses
Best Use
Office B
$3.11M
$2.72M – $3.63M
NOI $217,935 @ 7.0% cap · market cap 7.33%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.74M
$3.27M – $4.36M
NOI $261,801 @ 7.0% cap · market cap 8.80%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,495
Businesses Nearby
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Business Placement
Demographics for 95008, CA
49,038
Population
20,013
Households
2.5
Avg Household Size
39
Median Age
59%
College-Educated
93%
High-School Grad
6.5 sq mi
ZIP Area
7,544
Density / Sq Mi
$142,841
Median Household Income
$84,022
Median Earnings
$2,694
Median Rent
$1,578,800
Median Home Value
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Office building - Fully leased office property with five tenants and transit-oriented redevelopment parameters.
Where is this office building located?
The property is located at 2470 S Winchester Blvd Campbell, CA.
What is the asking price?
The asking price for this property is $2,975,000.
What are key features of this property?
This property features: Approximately 0.62‑acre site improved with a 6,986 SF multi‑tenant office building; 100% leased to 5 tenants; leases or options expire within the next 5 years; Less than 1/4 mile from Winchester Station on the VTA Green Line
