1080-1084 S De Anza Blvd is a 21,357 SF NNN leased shopping center on 1.81 acres on S De Anza Blvd minutes from the City of Cupertino. 1080 S De Anza Blvd and 1084 S De Anza Blvd are on two separate parcels, with 1080 S De Anza being condo mapped with 9 commercial condos (9 separate APNs), providing the next owner with a unique opportunity to potentially sell off the condos individually. The current average rent per square foot is $2.84 SF which is well below market on De Anza Blvd, allowing the next buyer the opportunity to add value/increase rents. The current yearly net operating income is $726,579.60. The shopping center currently only has 1 vacant unit which is 1,129 square feet. Using a proforma rent of $4.50 SF for the 1,129 SF space that increases the yearly net income from $726,579.60 to $787,545.60. The property is in one of the highest barrier to entry markets in the Silicon Valley. Extremely strong demographics with household incomes in excess of $209,681 in a 1-mile radius. Strategically positioned on S De Anza Blvd minutes from the City of Cupertino. The property is in the Cupertino School District.
The General Land Use (Neighborhood/Community Commercial) will allow for a variety of different residential redevelopment opportunities, including 100% affordable housing, mixed-use, or senior housing. The property is also in the S De Anza Urban Village Plan. FAR Up to 3.5 (1 to 5 stories) The minimum density would be 55 du/ac for housing in this designation.
