5150 Graves Ave San Jose, CA 95129

Property Details for 5150 Graves Ave

Year built

1964

Lot size

0.30 lot acres

Property size

14,628 SF

Property type

Office properties & Spaces

Property subtype

Medical Office Space

Description

This exceptional investment opportunity presents two, two-story medical office buildings totaling 14,628 square feet situated on a 0.3-acre lot in San Jose, CA (95129). The property, known as West Valley Professional Center - Buildings 11 & 12, boasts 16 units with 96% occupancy and a current NOI of $337,897, translating to a 4.51% cap rate. A pro-forma NOI of $382,690 projects a 5.11% cap rate, showcasing significant value-add potential. Built in 1964, these well-maintained buildings feature a multi-tenant lease structure (gross lease type) with a diverse mix of 16 medical and dental tenants. The property benefits from a prime location in West San Jose, conveniently close to shopping, dining, and other retail amenities. Rent increases are tied to CPI, with a minimum 3% and maximum 5% annual adjustment. The permitted zoning is PD, and the net rentable square footage is 14,155 square feet, with an asking price of $7,488,000 ($511.89 per square foot). This presents a compelling opportunity for investors seeking a stable, high-performing medical office portfolio in a thriving Silicon Valley location. The property's strong tenant base, favorable lease terms, and significant upside potential make it an attractive investment.