Fully Occupied Four-Tenant Retail
977 Monroe St Santa Clara, CA 95050
977 Monroe St, Santa Clara, CA, 95050
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For Sale
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Four-suite retail center is fully occupied by service-oriented tenants under passive lease structures.
Property Size8,114 SF
Price / SF$473.13
Days on Market100
Property Features for 977 Monroe St
General Information
- Standard status
- Active
- Size
- 8,114 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1976
Listing agency
Marcus & Millichap - Seattle
Listed by
Carson Breshears · License #140835
Source
Crexi
Added: Apr 13 Updated: Jul 21 at 1:16PM Checked: Jul 21 at 1:16PM
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 Marcus & Millichap - Seattle
Investment Insights
Based on property information with market context.
Franklin Square Retail is a four-tenant retail center offered for fee simple ownership. The property totals just over 8,000 square feet and is configured into four individual suites. All tenants are operating on passive lease structures.
The center is located in Santa Clara, California, just blocks from Santa Clara University. Current tenants include Mountain Mike’s Pizza, Vampire Battle Mansion Tattoo and Piercing, Sam and Roy’s Barber, and Franklin Cleaners.
The property is presented as fully occupied, providing a diversified mix of service-oriented retail operations within a small, dedicated retail setup.
The center is located in Santa Clara, California, just blocks from Santa Clara University. Current tenants include Mountain Mike’s Pizza, Vampire Battle Mansion Tattoo and Piercing, Sam and Roy’s Barber, and Franklin Cleaners.
The property is presented as fully occupied, providing a diversified mix of service-oriented retail operations within a small, dedicated retail setup.
Key Highlights
- Four‑tenant retail center in Santa Clara, CA, just blocks from Santa Clara University.
- 4 suites totaling just over 8,000 SF, fully occupied by service‑oriented tenants.
- Tenants include Mountain Mike’s Pizza, Vampire Battle Mansion Tattoo and Piercing, Sam and Roy’s Barber, and Franklin Cleaners.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $328.1k | $40.44 |
| − Vacancy | −$15.0k | −$1.85 |
| EGI | $313.1k | $38.59 |
| − OpEx | −$93.9k | −$11.58 |
| NOI | $219.2k | $27.01 |
8,114 SF · lease $40.44/SF/yr · vacancy 4.58% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.13M
$2.74M – $3.65M
NOI $219,171 @ 7.0% cap · market cap 5.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.90M
$4.29M – $5.71M
NOI $342,898 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Sam & Roy's
Barber Shop
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FAQs
What type of property is this?
Shopping center - Four-suite retail center is fully occupied by service-oriented tenants under passive lease structures.
Where is this shopping center located?
The property is located at 977 Monroe St Santa Clara, CA.
What is the asking price?
The asking price for this property is $3,839,000.
What are key features of this property?
This property features: Four‑tenant retail center in Santa Clara, CA, just blocks from Santa Clara University.; 4 suites totaling just over 8,000 SF, fully occupied by service‑oriented tenants.; Tenants include Mountain Mike’s Pizza, Vampire Battle Mansion Tattoo and Piercing, Sam and Roy’s Barber, and Franklin Cleaners.
