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26691190
26691191

375 N Capitol Ave, San Jose, CA 95133

BL
CA 1458927
Northmarq - LA
TK
CA 01778384
Northmarq - LA
Listed by Northmarq - LA
$33,300,000
285 days on market
Updated 20 days ago

375 Capitol Square

Details
Property Type Retail
Sub Type Shopping Center
Square Footage 101,500
Net Rentable (SqFt) 98,519
Units 4
Cap Rate 6.00%
NOI $2,011,851
Occupancy 95%
Tenancy Multi
Brand/Tenant Sprouts Market, Burlington Coat Factory (+2)
Year Renovated 2023-2024
Stories 1
Acreage 8.020
Parking Spaces 310 spaces
Parking Per SqFt 3.05
Investment Type Net Lease
Ownership Fee Simple

A Grocery-Anchored Investment Opportunity in the Heart of Silicon Valley

Marketing description

The Northmarq National Shopping Center Group, as the exclusive advisor, is pleased to present the opportunity to acquire 375 Capitol Square (the “Property”), a grocery anchored, 101,500 squarefoot shopping center located in the heart of Silicon Valley. The Property is anchored by Sprouts Farmers Market, Burlington, Five Below and Crunch fitness, and boasts a long term WALT of 8.6 years, yielding stable cashflow for a significant period. Located in San Jose, one block east from the Interstate 680 (191,000 VPD) at the highly trafficked intersection of McKee Rd (41,000 VPD) and N Capitol (32,000 VPD), the Property sits within a larger shopping center, shadow anchored by a variety of quick-service restaurants and convenience stores.

The total center sees roughly 5.5 million visits annually, and the surrounding submarket has an incredible low vacancy rate at 1.5%. This, coupled with the strong rent roll, situate this center to continue strong performance.

Key Value-Creation Highlight Include:

  • Ancillary income through EV charging stations & storage facilities – Current management is negotiating an EV charging station lease, expected to commence in the future. Additionally, there is opportunity to activate a similar underutilized area for future storage income.

  • Outparcel & Subdivision Opportunity – The property has the opportunity to capitalize on a developable ground lease site, and ultimately subdivide in a partitioning play to boost returns and take advantage of low cap rates associated with strong ground lease tenants.

Investment highlights

  • National Credit Tenant Lineup

  • Grocery Anchor

  • Recent Renovation

  • Recent Long-Term Leases

  • Outparcel Opportunity

  • Future Upside in Growth - EV Chargers

  • Prime Location

  • Robust Demographics

  • Strategic Silicon Valley Positioning

  • Affluent Submarket

Listing Contacts

BL
CA 1458927
Northmarq - LA
TK
CA 01778384
Northmarq - LA
Listed by Northmarq - LA

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$
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$2,011,851.00
$167,654.25/mo

Valuation Metrics

0
DSCR
6.04%
Cap Rate
6.04%
ROI

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Additional Information

Name
Bryan Ley
License
1458927
Brokerage
Northmarq
Brokerage Phone
(424) 401-9500
Title
Managing Director
Brokerage Address
10960 Wilshire Boulevard
Name
Tim Kuruzar
License
01778384
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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