[CLOSED] CALL FOR TRANSACTION DETAILS
Multi-Tenant Retail Strip Center + Single Family Home
Investment Highlights
High daily vehicle counts
High Visibility Corner
Historically low vacancy rate
Below Market Rents
Long term well established local tenant mix
Across the street from Safeway, Walgreens, and Rite Aid
propeRty overview
The Ida Group is pleased to present the opportunity to acquire a portfolio of property in San Jose’s Willow Glen nighborhood comprised of a 100% occupied multi-tenant retail asset located at 1584-1596 Meridian Avenue and a single-family home located at 1591 Hamilton Avenue.
The commercial component consists of an approximately 8,225 square foot building featuring seven retail suites situated on an 18,840 square foot lot. The residential component features an approximately 735 square foot, two-bedroom/one-bath home situated on an 8,990 square foot lot. Together, the properties provide ample parking for the commercial use, with a parking ratio of 4.38 spaces per 1,000 building square feet.
The shopping center features a seasoned tenant mix of service-oriented, internet resistant businesses paying below market rents with a exceptionally low historical vacancy rate. Short leases and below market rents allow an investor upside to an already-stable cash flowing asset.