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33544762
33544783

977 Monroe Street, Santa Clara, CA 95050

CB
WA 140835
Marcus & Millichap - Seattle
HW
WA WA 110547, GA 440846
Marcus & Millichap - Seattle
Listed by Marcus & Millichap - Seattle
$3,839,000
310 days on market
Updated 0 days ago

Franklin Square Retail (Santa Clara)

Details
Property Type Retail
Sub Type Restaurant, Shopping Center (+1)
Square Footage 8,114
Net Rentable (SqFt) 8,114
Cap Rate 6.4%
NOI $245,708
Occupancy 100%
Tenancy Multi
Brand/Tenant Mountain Mike’s Pizza, Vampire Battle Mansion Tattoo and Piercing (+2)
Lease Type NNN
Rent Bumps Yes
Price per SqFt $478
Class A
Year Built 1976
Year Renovated 2021
Acreage 0.200
Zoning Commercial Mixed Use
Investment Type Stabilized
Tenant Credit Franchisee
Ground Lease No
Ownership Fee simple

Santa Clara Univ. Retail - 100% Occupied - New Roof & HVAC

Marketing description

Marcus & Millichap is proud to offer for sale fee simple ownership of 1290 Franklin Mall located in Santa Clara, California, situated just blocks from Santa Clara University. The four-tenant retail center is offered to investors fully occupied and providing a steady diversified income stream from various service-oriented tenants. Mountain Mike’s Pizza, Vampire Battle Mansion Tattoo and Piercing, Sam and Roy’s Barber, and Franklin Cleaners all have noteworthy track records of operating at Franklin Mall, catering to their customer base of local residents and university students. Franklin Mall spans just over 8,000 square feet and is made up of four suites with all tenants operating on passive lease structures. Santa Clara, California is located in the heart of the Silicon Valley, home to almost 4 million residents. Santa Clara has the oldest university in California in Santa Clara University with enrollment over 8,600 students. Santa Clara is also home to the San Francisco 49ers at Levi’s Stadium and California’s Great America Amusement Park, which spans 112 acres and has operated since 1976. Companies headquartered in Santa Clara include Advanced Micro Devices, Agilent Technologies, Applied Materials, Arista Networks, Chegg, Intel, McAfee, Nvidia, OmniVision Technologies and Veritas Technologies. Santa Clara also owns and operates Silicon Valley Power, an electric utility serving over 55,000 residences. The average household income in Santa Clara exceeds $140,000.

Investment highlights

  • 100% Occupied Retail Center with Service Oriented Tenant Mix – Pizza, Tattoo, Barber and Cleaners Offer Stable and Diversified Income Stream

  • Located Within Blocks of Santa Clara University – 8,600 Students Enrolled

  • Franklin Mall Located in High Population Density Market – Over 622,000 Residents Within 5 Miles of Subject Property

  • Recent Capital Improvements to Building Include New Roof and New HVAC Units

  • Passive Management Structure – City of Santa Clara Maintains All Landscaping, Sidewalks and Common Areas within the Development

  • Barber Shop and Franklin Cleaners Both Recently Executed 5 Year Extension

  • Improved Zoning: From Commercial Mixed Use (50 ft. maximum height) to Downtown Zoning (59 ft. maximum height)

Listing Contacts

CB
WA 140835
Marcus & Millichap - Seattle
HW
WA WA 110547, GA 440846
Marcus & Millichap - Seattle
Listed by Marcus & Millichap - Seattle

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$245,708.00
$20,475.67/mo

Valuation Metrics

0
DSCR
6.4%
Cap Rate
6.4%
ROI

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Additional Information

Name
Tony Solomon
License
01238010
Brokerage
Marcus and Millichap
Title
Broker of Record
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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