1290 Franklin Mall Santa Clara, CA 95050
- Lifestyle centers
- 8,114 SF
- 0.51 lot acres
Current Use by Public Records
- Mountain Mike's Pizza / Pizza Restaurant / Buffet Restaurant
Property Details for 1290 Franklin Mall
- Year built
- 1976
- Lot size
- 0.51 lot acres
- Property size
- 8,114 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional retail investment opportunity presents a fully occupied, four-tenant center totaling 8,114 square feet situated on a 0.51-acre lot in Santa Clara, California. The property, built in 1976 and featuring a single-story building with Downtown Commercial zoning, boasts a diverse tenant mix including a pizza restaurant, tattoo parlor, barber shop, and dry cleaner, all operating under NNN leases. The property enjoys a 100% occupancy rate, generating a substantial net operating income (NOI) of $230,045, representing a 5.94% cap rate at an asking price of $3,875,000 ($477.57/sq ft). The center benefits from its prime location, just blocks from Santa Clara University, ensuring a consistent customer base of students and local residents. Recent lease extensions, including a 10-year extension with a 15% rent bump in 2025 for one tenant and a 5-year extension for another, demonstrate the tenants' commitment and the property's strong performance. The property also features recent capital improvements, including a new roof and HVAC units. The city maintains all landscaping, sidewalks, and common areas, minimizing management responsibilities. This is a rare opportunity to acquire a stable, high-performing retail investment in a thriving Silicon Valley location. The property is offered fee simple with no ground lease.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Santa Clara
- County
- Santa Clara
- State
- California
- Longitude
- -121.948
- Latitude
- 37.3486
