RETAIL

Sun Plaza Retail Shopping Center

2549-2569 S King Rd, San Jose, CA 95122

$22,000,000

PROPERTY FACTS

Sales Price: $22,000,000

Cap Rate: 5.06%

Status: For Sale

Building Size: 31,612 SF

Lot Size: 3.10 AC

Property Type: Retail

Year Built: 1995

INVESTMENT HIGHLIGHTS

31,612 SF MULTI-TENANT RETAIL SHOPPING CENTER
Sun Plaza is a 31,612 square foot, 3-building multi-tenant retail shopping center located on South King Road near the signalized corner of Tully Road in San Jose, California, one of the area’s primary commercial corridors.
STRONG OCCUPANCY & PROVEN LEASING HISTORY
The property consists of a 22-unit shopping center currently 21 units leased (99% occupied) with only one small 397 SF vacancy, demonstrating strong tenant demand and stable long-term occupancy.
ESTABLISHED ASIAN DINING & RETAIL DESTINATION
Sun Plaza features a highly specialized tenant mix primarily consisting of Vietnamese and Asian-owned restaurants, cafés, tea shops, pho restaurants, hot pot dining, an Asian seafood market, beauty and nail salons, pharmacy, dental services, and specialty retail, creating a vibrant lifestyle-oriented retail environment with consistent daily foot traffic.
BELOW-MARKET RENTAL RATES WITH UPSIDE
Current average rents of approximately $2.89/SF NNN are below prevailing market levels, offering investors future rental growth.
LARGE 3.10 AC PARCEL WITH URBAN VILLAGE ZONING
The property sits on a 3.10-acre lot with 214 parking spaces and is designated NCC (Neighborhood/Community Commercial) within the Tully Rd / S. King Rd Urban Village.
WELL MAINTAINED ASSET
Built in 1995, Sun Plaza has been well maintained and serves as a busy neighborhood retail hub for the surrounding community.
HIGH BARRIER-TO-ENTRY SAN JOSE RETAIL MARKET
Retail shopping centers of this size rarely come to market in San Jose, as long-term owners tend to hold these assets due to their strong leasing demand, consistent occupancy, and stable cash flow. Well-located neighborhood retail centers like Sun Plaza are highly sought after making opportunities to acquire them increasingly rare.