274 Castro St Mtn Vw Mountain View, CA 94041

Property Details for 274 Castro St Mtn Vw

Year built

2001

Property size

29,466 SF

Property type

Retail properties

Property subtype

Office Properties & Spaces

Description

This exceptional three-story, 29,466 square foot mixed-use building is located in the heart of Mountain View, California, at 274-282 Castro Street, 94041. Currently 100% occupied with a mix of office and retail tenants, this property offers a compelling value-add opportunity with a strong net operating income (NOI) of $1,834,477 and a 5.00% cap rate. The asking price is $37,000,000, translating to $1,255.68 per square foot. Built in 2001, the building sits on an 11,761 square foot lot (APN: 158-130-044-02, -03) and features open floor plans, light-filled spaces, and elevator service. The ground floor boasts prime storefront access to Castro Street, a major thoroughfare in downtown Mountain View. A city parking lot is conveniently located behind the building. The property benefits from its proximity to Caltrain and El Camino Real Boulevard, providing excellent regional access. An owner-user could potentially occupy up to 17,908 square feet. The current lease structure presents opportunities to increase revenue through lease renewals at market rates ($7-$8/SF) and converting to NNN leases. The property is zoned as a Planned Community, offering potential for future expansion. This investment presents a rare chance to acquire a significant asset in one of the nation's strongest economic markets, the Silicon Valley, with its high concentration of tech companies and low unemployment. The building's location and strong tenant base provide a solid foundation for future growth and value appreciation.

Location Insight

City

Mountain View

County

Santa Clara

State

California

Longitude

-122.08

Latitude

37.393