1190-1214 Norman Ave Santa Clara, CA 95054

Property Details for 1190-1214 Norman Ave

Lot size

1.53 lot acres

Property size

30,240 SF

Property type

Warehouses

Property subtype

Industrial properties

Description

This exceptional investment opportunity presents a two-building, 30,240-square-foot multi-tenant industrial portfolio in Santa Clara, CA. Located within two minutes of Montague Expressway, this property boasts a 6.24% cap rate and a total Net Operating Income (NOI) of $780,606. The portfolio comprises two buildings situated on separate 1.53-acre parcels, each offering unique investment potential. Building 1190-1214 Norman Ave features 13' clear heights, 63 parking spaces, and a NOI of $532,335, with a cap rate of 5.75% and a price per square foot of $459. Building 1250-1262 Norman Ave also offers 13' clear heights, 63 parking spaces, and a NOI of $248,270, with a 5.75% cap rate and a price per square foot of $429. The property is currently 100% occupied, primarily by automotive tenants. Both buildings are zoned for Low Intensity Office/R&D use. This offering presents a rare chance to acquire a high-performing industrial asset in the desirable Bay Area market. The property is offered at $12,500,000, with a price per square foot of $413. Each building can be sold individually or as a combined portfolio. Significant capital improvements were recently completed. Almost all units include private bathrooms.