1705 & 1745 - LoopNet · Colliers International 450 West Santa Clara Street. San Jose, CA 95113 P:...
Transcript of 1705 & 1745 - LoopNet · Colliers International 450 West Santa Clara Street. San Jose, CA 95113 P:...
Colliers International450 West Santa Clara StreetSan Jose, CA 95113P: +1 408 282 3800
John B. MachadoExecutive Vice President+1 408 282 3862 dir+1 408 234 2606 [email protected] Lic. No. 00876747
1705 & 1745
El Camino RealSANTA CLARA | CA
For Sale Retail Shopping Center on ±2.18 Acres of Land
TABLE OF CONTENTS
EXTERIOR PHOTOS 3
PROPERTY PROFILE 4
AERIAL OF PROPERTY 5
PARCEL MAP / LOCATION MAP 6
PROPERTY OFFERING / RENT ROLL 8
MIXED USE LAND: USE GOALS & POLICIES 12
2 1705 & 1745 El Camino Real // Santa Clara // CA
EXTERIOR PHOTOS
1705 & 1745 El Camino Real // Santa Clara // CA 3
4 1705 & 1745 El Camino Real // Santa Clara // CA
PROPERTY PROFILE
ADDRESS 1705 & 1745 El Camino Real
CITY / STATE Santa Clara, CA
APN # 224-49-009 & 224-49-012
IMPROVEMENTS(1) ±11,651 SF of multi-tenant single story retail constructed new in approx. 1975
(2) ±6,000 SF free standing Denny's restaurant constructed new in approx. 1976
LAND 2 adjacent parcels of land totalling ±2.18 Acres (±94,960 SF)
PROPERTY DIMENSIONS ±400’ linear feet of frontage on El Camino Real with depth ranging from 170' to 300'
ACCESS Multiple curb cuts on El Camino Real
ZONING Thoroughfare Commercial
GENERAL PLAN Community Mixed Use
AERIAL OF PROPERTY
EL CAMINO REAL
SCOTT BLVD
CIVIC CENTER DRLINCOLN ST1745 EL CAMINO REAL
SANTA CLARA, CA
1705 EL CAMINO REAL SANTA CLARA, CA
1705 & 1745 El Camino Real // Santa Clara // CA 5
LOCAL MAPPARCEL MAP
1745 EL CAMINO REAL SANTA CLARA, CA
1705 EL CAMINO REAL SANTA CLARA, CA
The subject property is located conveniently between Highway 101 and Capitol Expressway in San Jose, CA.
6 1705 & 1745 El Camino Real // Santa Clara // CA
PARCEL MAP / LOCATION MAP
NEW RESIDENTIAL DEVELOPMENTS
SAN TOMAS EXP
Approximately 2,000 residential units recently completed or under construction within 1.5 miles of the property.
LAWR
ENCE EX
P
EL CAMINO REAL
SITE
Alviso TownhomesUnder Construction
Units: 40
Downtown GatewayUnder Construction
Units: 44
Anantara VillasUnder Construction
Units: 56
Mariani's Inn ResidencesPending Review
Units: ±390
Madison PlaceUnder Construction
Units: 28
Catalina TownhomesPending Review
Units: ±54Summerhill HomesPending Review
Units: ±151
Villas on the BoulevardCompleted in 2017
Units: ±186
Gateway VillageUnder Construction
Units: 476
Completed in 2015Units: 133
The DeckPending Review
Units: 66
Alexis Condo ComplexCompleted in 2015
Units: 60
Moonlight LanesPending Review
Units: ±60
1705 & 1745 El Camino Real // Santa Clara // CA 7
MONTHLY BASE RENT $33,883.50
MONTHLY VACANT RENT (PROJECTED) $5,245.00
MONTHLY PERCENTAGE RENT (DENNY'S) $5,000.00
TOTAL MONTHLY PROJECTED RENT $44,128.50
ANNUAL PROJECTED RENT $529,542.00
SALES PRICE $12,500,000
CAPITALIZATION RATE 4.24%
PRICE PER SQ FT BUILDING $708.17
PRICE PER SQ FT LAND $131.63
SALES PRICE $12,500,000
8 1705 & 1745 El Camino Real // Santa Clara // CA
PROPERTY OFFERING
1705 & 1745 El Camino Real // Santa Clara // CA 9
RENT ROLL
1745 EL CAMINO REAL SFLEASE TYPE
BASE RENT
ANNUAL RENT
RENT/SF
% RENT (9%)
TOTAL ANNUAL RENT
RENT/SF BEGIN END
ANNUAL INCREASE
OPTIONS
DENNY'S 6,000 NNN $11,000.00 $132,000.00 $22.00 $60,000.00 $192,000.00 $32.00 9/1/96 4/30/20 Flat Rent No Options
1705 EL CAMINO REAL SFLEASE TYPE
BASE RENT ANNUAL RENT RENT/SFBEGIN END
ANNUAL INCREASE
OPTIONS
BANK OF THE WEST 3,424 NNN $8,863.60 $106,363.20 $31.06 9/1/98 12/31/23 3.00%2-5 Year @
FMR.
VACANT 2,098 NNN $5,245.00 $62,940.00 $30.00
ALL STATE INSURANCE 793 NNN $1,592.40 $19,108.80 $24.10 1/1/14 12/31/19 3.00% No Options
ELEGANT NAILS 856 NNN $1,686.00 $20,232.00 $23.64 6/1/14 5/31/19 3.00% No Options
SHERWIN-WILLIAMS COMPANY 4,480 NNN $10,741.50 $128,898.00 $28.77 12/10/13 12/31/23 3.00%
2-5 Year @ FMR.
LEASE TERM
LEASE TERM
PRIME RETAIL LOCATION
SANTA CLARAUNIVERSITY
DOWNTOWNSAN JOSE
EL CAMINO REAL
Traffic count on El Camino Real: 28,000 VPD
SITE
10 1705 & 1745 El Camino Real // Santa Clara // CA
LAND USE DIAGRAM
LAFAYETTE ST
TASMAN DR
GREA
MISSIO NC O LLEGE BLVD
LAW
R ENC
EEX
PWY
SAN
TOM
ASEX
PWY
LAW
R EN
CE
EXPW
Y
CENTRAL EXPWY
CENTRAL EXPWY
SCOTT BLVD
LAFAYETTE
ST
BLVD
AGNEW RD
LICK
MILL BLVD
HOPE DR
BOW
ERS
AV
E
OCS
TT
LBVD
C ABRILLO AVE
MONRO E ST
MONROE ST
LINCOLN ST
ZUR
CL
DVB
EL C AMIN O REAL
WASHINGT ON ST
BEN TON ST
HOMESTEAD RD
BEN TON ST
MARKET ST
SARATO
GA AVE
NEWH ALL ST
I
POM
ERO
Y AV
E
CALABAZAS
280
101
237
880
UNION PACIFIC RRCALTRAIN
CaltrainStation
SA
NTA CLARAVTA LIGHT RAIL
STEVENS CREEK BLVD
AVE
CALTRAIN
CaltrainStation
12/10
MILES
40 acres
10acres
Figure 5.2-2Land Use DiagramPhase II: 2015-2025
Rail & Light Rail
Stations
City Limits
C reek
Trail
Proposed Trail
Very Low Density Residential
Low Density Residential
Medium Density Residential
High Density Residential
Community Commercial
Regional Comme r cial
Neighborhood Mi x ed Use
Community Mi x ed Use
Regional Mixed Use
Public/Quasi Public
Parks/Open Space
Light Industrial
Heavy Industrial
Santa Clara Station Area
Downtown Co re
Open Space - (with new development 1)
N ew Neighborhood Retail
1 Actual size and location to be determined in planning process
Neighborhood Commercial YWKP
ACIRE
MA
Exception Areas for Places of Assembly and Entertainment Uses.
Revised: November 16, 2010
MONTAGUE EXPWY
WALSH
BLVD
KIELYBLV D
AVEDG E
HOMESTEAD RD
PRUN ER
GRE
AT
High
BOW
E RAV
ES
LAFAYETTE ST
TASMAN DR
GREA
MISSIO NC O LLEGE BLVD
LAW
R ENC
EEX
PWY
SAN
TOM
ASEX
PWY
LAW
R EN
CE
EXPW
Y
CENTRAL EXPWY
CENTRAL EXPWY
SCOTT BLVD
LAFAYETTE
ST
BLVD
AGNEW RD
LICK
MILL BLVD
HOPE DR
BOW
ERS
AV
E
OCS
TT
LBVD
C ABRILLO AVE
MONRO E ST
MONROE ST
LINCOLN ST
ZUR
CL
DVB
EL C AMIN O REAL
WASHINGT ON ST
BEN TON ST
HOMESTEAD RD
BEN TON ST
MARKET ST
SARATO
GA AVE
NEWH ALL ST
I
POM
ERO
Y AV
E
CALABAZAS
280
101
237
880
UNION PACIFIC RR
CALTRAIN
CaltrainStation
SA
NTA CLARAVTA LIGHT RAIL
STEVENS CREEK BLVD
AVE
CALTRAIN
CaltrainStation
12/10
MILES
40 acres
10acres
Figure 5.2-2Land Use DiagramPhase II: 2015-2025
Rail & Light Rail
Stations
City Limits
C reek
Trail
Proposed Trail
Very Low Density Residential
Low Density Residential
Medium Density Residential
High Density Residential
Community Commercial
Regional Comme r cial
Neighborhood Mi x ed Use
Community Mi x ed Use
Regional Mixed Use
Public/Quasi Public
Parks/Open Space
Light Industrial
Heavy Industrial
Santa Clara Station Area
Downtown Co re
Open Space - (with new development 1)
N ew Neighborhood Retail
1 Actual size and location to be determined in planning process
Neighborhood Commercial YWKP
ACIRE
MA
Exception Areas for Places of Assembly and Entertainment Uses.
Revised: November 16, 2010
MONTAGUE EXPWY
WALSH
BLVD
KIELYBLV D
AVEDG E
HOMESTEAD RD
PRUN ER
GRE
AT
High
BOW
E RAV
ES
SITE
1705 & 1745 El Camino Real // Santa Clara // CA 11
Mixed‐use development in the City includes a range of intensities and uses, from Neighborhood Mixed Use and Community Mixed Use with medium‐density residential development to Regional Mixed Use with higher overall allowed development for both commercial and residential uses. The Land Use Diagram identifies locations for mixed‐use development throughout the City. Mixed‐use development serves a specific function in the City and is designated along major transportation corridors, near existing and future residential neighborhoods. Mixed uses emphasize access to transit with an active ground floor, neighborhood‐serving retail uses and parking located in the rear or below‐grade. Civic spaces, such as small plazas or gathering areas, provide a focus for pedestrian activity.Figure 5.3‐2 illustrates these concepts. Mixed‐use developments should have an identifiable palette of streetscape amenities and buildings close to public sidewalks for pedestrian access and safety, as shown in Figure 5.3‐3. Goals and Policies related to mixed‐use development are listed below. Additional policies, unique to the City’s Focus Areas are described in Section 5.4, including specific policies for El Camino Real and Downtown. Policies defined in the Mobility and Transportation section, related to transit and pedestrian accessibility, also apply.
MIXED USE LAND USE GOALS
5.3.4‐G1 Mixed‐use development that is located and designed to support high quality uses and the City’s economic development.
5.3.4‐G2 Mixed‐use development of a scale and character that is compatible with surrounding neighborhoods.
5.3.4‐G3 Mixed‐use development that maximizes accessibility to alternate transportation modes and integrates pedestrian, bicycle, transit, open space and outdoor uses to encourage active centers.
5.3.4‐G4 Commercial uses that provide a pedestrian‐oriented streetscape, with residential uses either above or behind.
MIXED USE LAND USE POLICIES
5.3.4‐P1 Transform underutilized commercial centers into new mixed‐use destinations, consistent with applicable land use classifications.
5.3.4‐P2 Encourage mixed‐use development in proximity to employment centers and residential neighborhoods throughout the City.
5.3.4‐P3 Prohibit single‐use development in mixed‐use classifications unless allowed under Focus Area or Neighborhood Compatibility Policies.
5.3.4‐P4 Require mixed‐use development to meet the density and intensity specified in the land use classifications.
5.3.4‐P5 Encourage mixed‐use development site planning and design to implement the elements illustrated in Figures 7.3‐2 and 7.3‐3, including street tree planting along all streets.
5.3.4‐P6 Locate a neighborhood square or plaza within large mixed‐use developments.
5.3.4‐P7 Use design techniques, such as stepping down building heights, and siting incompatible activities, such as loading and unloading, away from residential uses.
5.3.4‐P8 Encourage building heights of up to five stories in large mixed‐use developments along arterial street frontages, with the potential for taller buildings north of the Caltrain corridor.
5.3.4‐P9 Encourage ground‐level windows and building entries that support a visual connection to activities.
5.3.4‐P10 Require parking to be substantially below‐grade or in structures with active uses along streets.
5.3.4‐P11 Foster active, pedestrian‐oriented uses at the ground level, such as retail shops, offices, restaurants with outdoor seating, public plazas or residential units with front stoops, in mixed‐ use development.
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MIXED USE LAND: USE GOALS AND POLICIES
5.3.4‐P12 Prioritize pedestrian‐oriented streetscape and building design in mixed‐use development, including features such as wider sidewalks, street furniture, specialty planters, signage, public art, street trees, special paving materials, decorative awnings, enhanced entrances, colors, variety of materials and textures and distinctive building massing and articulation.
5.3.4‐P13 Encourage pedestrian linkages in mixed‐use areas through measures such as enhanced lighting, curb bulb‐outs, mid‐block pedestrian crossings, pedestrian “refuge” areas in planted medians and pedestrian‐oriented building frontages.
5.3.4‐P14 Provide a network of streets and pedestrian connections in large mixed‐use developments.
5.3.4‐P15 Maximize opportunities to connect streets, bicycle facilities and pedestrian pathways to improve accessibility between mixed‐use development and surrounding neighborhoods, parks, open spaces, transit and public amenities. Provide clear signage, high visibility, adequate lighting and special paving to enhance pedestrian and bicycle facilities.
5.3.4‐P16 Discourage auto‐oriented uses, such as drive‐through retail establishments, auto repair, and service stations in mixed‐use designations, except under certain circumstances within the Community Mixed‐Use designation in the El Camino Real Focus Area.
5.3.4‐P17 For Neighborhood and Community Mixed Use properties under one‐half acre, allow mixed‐use development of entirely residential uses or development of entirely commercial or community serving office uses in order to facilitate development on smaller lots, consistent with the required density and intensity ranges as well as other applicable General Plan policies.
5.3.4‐P18 Prohibit Specified Regulated Businesses, as defined under this General Plan, in all developments in Mixed‐Use designations that include residential uses.
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Colliers International450 West Santa Clara Street
San Jose, CA 95113P: +1 408 282 3800
BROKER OPINION OF VALUE 1705 & 1745 El Camino Real // Santa Clara // CA
John B. MachadoExecutive Vice President+1 408 282 3862 dir+1 408 234 2606 [email protected] Lic. No. 00876747