5,520 SF Retail Strip Center in Willow Glen For Sale

2218-2230 Lincoln Ave, San Jose, CA 95125

Sales Price: $3,750,000

Status: For Sale

Building Size: 5,520 SF

Lot Size: 0.34 AC

Property Type: Retail

Year Built: 1948

±5,520 SF Freestanding Retail Strip Center with 4 Units on a ±14,810 SF Lot with Large Rear Parking Lot
Taqueria Milagro Restaurant Leasing 2 Adjacent Units (50% of Building) & Lease Can be Terminated with 6 Months Notice After Close of Escrow
Owner User Opportunity: 100% of the Building Available for an Owner User to Occupy
Value Add Opportunity: 6.20% CAP Rate using a Proforma Rent of $3.50 SF NNN
Located One Parcel from the Corner of Lincoln & Curtner Ave
1 Mile from Downtown Willow Glen

±5,520 SF Freestanding Retail Strip Center with 4 Units on a ±14,810 SF Lot.
Large Rear Private Parking Lot.
50% Leased: Taqueria Milagro a Mexican Restaurant is Currently Leasing 2 Adjacent Units; the Lease allows the Buyer to terminate the tenant’s lease with 6 months’ notice following close of escrow.”
Owner User Opportunity: 100% of the Building Available for an Owner User to Occupy (50% is Currently Vacant and the other 50% can be made Available 6 months following the close of escrow).
Value Add Opportunity: 6.20% CAP Rate using a proforma rent of $3.50 SF NNN.
CP – Commercial Pedestrian Zoning Designation: Allows for Uses such as Retail, Gym, Restaurant, Personal Services, Animal Boarding & Grooming, Office, Medical Office, and many more.
Located One Parcel from the Corner of Lincoln & Curtner Ave.
Average Household Income in Excess of $165,000 in a 1-Mile Radius.
1 Mile from Downtown Willow Glen.