615 Old San Francisco Rd Sunnyvale, CA 94086-7753
- Retail space
- 4,860 SF
- 0.46 lot acres
May 23, 2022
Current Use by Public Records
- 7-Eleven / Convenience Store
- Western Union / Money Transfer Service
- KeyMe Locksmiths / Locksmith / Key Duplication Service
Property Details for 615 Old San Francisco Rd
- Year built
- 1969
- Construction
- TILT-UP CONCRETE
- Lot size
- 0.46 lot acres
- Property size
- 4,860 SF
- Zone code
- C1
- Property type
- Retail space
- APN
- 209-19-019
- APU
- 20919019
Description
This exceptional investment opportunity presents a three-tenant retail strip center ideally situated in Sunnyvale, California. Boasting a prime location in the heart of Silicon Valley, this property offers a compelling value-add proposition. The 4,800 square foot building, constructed in 1969 and extensively renovated in 2023, sits on a 0.4-acre lot with ample parking (22 spaces). Currently, the center enjoys 84% occupancy, anchored by a 7-Eleven with a recently signed 10-year lease extension. Another tenant also recently committed to a new 10-year lease. The property features a prominent monument sign and excellent access to major thoroughfares, including El Camino Real and Highways 101, 280, and 85. The asking price is $4,117,942, representing a 5.25% cap rate and a price per square foot of $857.90. The Net Operating Income (NOI) is $216,192. The property is zoned C1 and offers a fee simple ownership structure. Leases are NNN, with one 5-year lease option available. The remaining lease term on the existing leases is 10.2 years, expiring January 31, 2035. A recently vacated 750 square foot space provides the landlord with co-tenancy optionality. The surrounding area boasts affluent demographics, with average household incomes exceeding $210,000 within a one-mile radius. This property presents a rare opportunity to acquire a well-positioned, high-performing retail asset in one of the most dynamic markets in the country. The property's address is 615 Old San Francisco Rd, Sunnyvale, CA 94086, APN 209-19-019.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,435,000
- ML approach
- $2,540,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $1,625,000
- 6.5%
- $1,500,000
- 7%
- $1,390,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $3,914,000
Market price range: $1.55M - $3.91M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $2,645,000 Current use
- OFFICE BUILDING
- $3,065,000 Change: +16% Conversion: Easy
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Location Insight
- Map
- Local Demand
- City
- Sunnyvale
- County
- Santa Clara
- State
- California
- Longitude
- -122.022
- Latitude
- 37.3675
- CBSA code
- 41940
- CBSA name
- SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA
