ATHERTON PROFESSIONAL CENTER

Transcription

1 OFFICE BUILDING FOR SALE ATHERTON PROFESSIONAL CENTER 4855 ATHERTON AVENUE, SAN JOSE, CA Presented By STEPHEN GUGGENHEIM ERIC JONG GREGORY S. NG BRE # BRE # Giant Realty Inc Stevens Creek Blvd. Cupertino, CA

2 ATHERTON PROFESSIONAL CENTER EXECUTIVE SUMMARY OFFERING SUMMARY PROPERTY HIGHLIGHTS Sale Price: $6,240,000 Cap Rate: 4.06% NOI: $253,051 Great West San Jose Location Near Downtown San Jose, Cupertino, Campbell, Sunnyvale, Saratoga, Los Gatos and Santa Clara, CA Across the street from Westgate Center and near El Paseo de Saratoga Shopping Center Lot Size: 0.74 Acres Near Highways 280, 880/17 and 85 Two-story Multi-tenant Office Building Year Built: Building Size: ,452 90% Leased with long-term tenants Newly remodeled Interior and Restrooms Plenty of on-site parking Zoning: Price / SF: STEPHEN GUGGENHEIM steve@guggenheimrgi.com BRE # CO $ ERIC JONG eric@guggenheimrgi.com BRE # GREGORY S. NG gregskng@gmail.com

3 RENT ROLL TENANT NAME UNIT NUMBER UNIT SIZE (SF) LEASE START LEASE END ANNUAL RENT % OF BUILDING PRICE PER SF/ YR Edward Jones (LP) 100 1,327 11/1/ 2010 CareMore Medical Enterprise 101 3,800 11/18/ /31/ /28/ 2023 $37, $27.96 $134, $35.43 Vacant 150 1,317 $39, $30.00 Saratoga Consulting / Susan Isaac & Patricia /1/ 6/30/ $26, $28.08 Angeline NORCAL Brain Center Chiropractic /1/2016 7/30/ 2019 $21, $26.41 Farmers Insurance 203 1,250 6/12/ /30/ 2020 $31, $25.31 Joseph T. Diebold, D.C ,557 7/1/ /14/ 2022 Jackson Hole Group /1/2007 7/31/ 2018 $66, $25.91 $19, $26.71 Chinese Church in Christ - Parking Use Parking 1 4/1/2001 3/31/ $7, $7, Lot 2025 Totals/Averages 12,767 $384,453 $30.11 UNIT TYPE COUNT % TOTAL SIZE (SF) $/SF/YR ANNUAL RENT ,419 $30.11 $42,730 Totals/Averages 9 100% 12,771 $30.11 $384,570

4 INCOME & EXPENSES INCOME SUMMARY ATHERTON PROFESSIONAL CENTER PER SF Gross Income $384,453 $28.58 EXPENSE SUMMARY ATHERTON PROFESSIONAL CENTER PER SF Janitorial & Security $10,488 $0.78 Landscaping $4,500 $0.33 Legal & Professional Fees $1,148 $0.09 Licenses & Permits $487 $0.04 Repairs & Maintenance $3,440 $0.26 Insurance $3,303 $0.25 Property Tax $74,880 $5.57 Franchise Tax $1,800 $0.13 Utilities includes 2% on 2017 proforma of $17,783 $19,683 $1.46 Management Services - based on 4% of gross income $15,360 $1.14 CAM Recovery -$3,687 -$0.27 Gross Expenses $131,402 $9.77 Net Operating Income $253,051 $18.81

5 PROPERTY DESCRIPTION PROPERTY OVERVIEW Atherton Professional Center is a beautiful office building located in West San Jose across the street from the Westgate Shopping Mall. This 13,452 SF, two-story building has immaculate landscaping, many parking spaces and high speed internet access. The bathrooms of the property were recently remodeled. Other remodeling included: exterior painting and interior upgrades. The center is anchored by CareMore Medical Enterprises with Financial & Investment Planners, Counselling/Psychologist, Chiropractic, Insurance Services and Engineering Consulting as the long term tenants. LOCATION OVERVIEW The office building is directly across the street from the Westgate Center. The Center is a 650,000 square foot center offering a one-stop destination for shopping, dining and entertainment. Westgate Center features a multitude of shops and restaurants including Nike Factory Store, Michaels, Target, Nordstrom Rack, Burlington Coat Factory, Ross, Old Navy, Buffalo Wild Wings, and more. Westgate Center offers brand name merchandise from core retail partners including well-known outlets and proven national retailers. Westgate Center also offers a variety of dining and service opportunities for nearby business and office employees and clients.

6 ATHERTON PROFESSIONAL CENTER ADDITIONAL PHOTOS STEPHEN GUGGENHEIM BRE # ERIC JONG BRE # GREGORY S. NG

7 LOCATION MAPS

8 RETAILER MAP

9 DEMOGRAPHICS MAP POPULATION 1 MILE 2 MILES 3 MILES Total population 23, , ,651 Median age Median age (male) Median age (Female) HOUSEHOLDS & INCOME 1 MILE 2 MILES 3 MILES Total households 8,534 37,186 75,986 # of persons per HH Average HH income $111,686 $110,148 $112,560 Average house value $800,643 $785,680 $790,633 * Demographic data derived from 2010 US Census