SARATOGA CREEK OFFICE BUILDING - LoopNet
11
Transcript of SARATOGA CREEK OFFICE BUILDING - LoopNet
SARATOGA CREEK OFFICE BUILDING
2
All materials and information received or derived from KW Commercial, Inc. its directors, officers, agents, advisors, affiliates
and/or any third party sources are provided without representation or warranty as to completeness , veracity, or accuracy,
condition of the property, compliance or lack of compliance with applicable governmental requirements, developability or
suitability, financial performance of the property, projected financial performance of the property for any party’s intended use
or any and all other matters.
Neither KW Commercial, Inc. its directors, officers, agents, advisors, or affiliates makes any representation or warranty,
express or implied, as to accuracy or completeness of the materials or information provided, derived, or received. Materials
and information from any source, whether written or verbal, that may be furnished for review are not a substitute for a party’s
active conduct of its own due diligence to determine these and other matters of significance to such party. KW Commercial,
Inc. will not investigate or verify any such matters or conduct due diligence for a party unless otherwise agreed in writing.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conduct their
own inspections and investigations including through appropriate third party independent professionals selected by such
party. All financial data should be verified by the party including by obtaining and reading applicable documents and reports
and consulting appropriate independent professionals. KW Commercial, Inc. makes no warranties and/or representations
regarding the veracity, completeness, or relevance of any financial data or assumptions. KW Commercial, Inc. does not serve
as a financial advisor to any party regarding any proposed transaction.
All data and assumptions regarding financial performance, including that used for financial modeling purposes, may differ
from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to a party do not
necessarily mean that rents can be established at or increased to that level. Parties must evaluate any applicable contractual
and governmental limitations as well as market conditions, vacancy factors and other issues in order to determine rents from
or for the property. Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by
the party with a certified public accountant or tax attorney. Title questions should be discussed by the party with a title officer
or attorney. Questions regarding the condition of the property and whether the property complies with applicable
governmental requirements should be discussed by the party with appropriate engineers, architects, contractors, other
consultants and governmental agencies. All properties and services are marketed by KW Commercial, Inc. in compliance with
all applicable fair housing and equal opportunity laws.
Mark von Kaenel
Commercial Director
408.568.6602
DRE# 01189869
Broker of Record
Commercial South Bay
DRE# 01526679
OFFERING PRICE
ADDRESS
CITY
OFFERING TYPE
PROPERTY TYPE
BUILDING CLASS
LOT SIZE
GROSS SF
NO. STORIES
YEAR BUILT
TOTAL UNITS
PARKING SPACES
ZONING
$1,199,000
20688 4th Street
Saratoga, CA 95070
For Sale
Office Building
Medical
8,915
2,554
Single-Story
1964
9
14 Spaces
CC
3
EXECUTIVE SUMMARY
PRICE
CAP
NOI
PRICE/SF
OCCUPANCY
$1,199,000
6.21%
$74,476.94
$469.46
100%
4
F INANCIAL SUMMARY
5
6
ADDRESS BUILT GROSS SF LOT SIZE PROPERTY TYPE SALE DATE PRICE PRICE/SF PRICE/LAND SF
1 790 S. Winchester Blvd 1965 2,940 6,033 10/13/2020 $1,320,000 $449 $219
San Jose, CA 95128
2 262 E. Main St 1983 2,597 5,899 7/1/2020 $1,500,000 $578 $254
Los Gatos, CA 95030
3 1905 Hamilton Ave 1949 2,992 10,454 2/28/2020 $1,600,000 $535 $153
San Jose, CA 95125
AVERAGES 2,843 7,462 $520 $209
S Subject Property 1964 2,554 8,915 - $1,199,000 $469 $134
20688 4th Street
Saratoga, CA 95070
Office Building
Office Building
Office Building
Office Building
7
SALES COMPARABLES
1
2
S
3
The City of Saratoga is an attractive residential community with a
small-town vibe. Known for its high quality of life, excellent
schools and distinctive businesses, Saratoga holds a special place
in the hearts of residents and visitors alike. Saratoga has a
vibrant art scene and a wealth of activities available to residents
and visitors, and is home to some distinctive destinations. The
City of Saratoga also boasts some of the best schools in the
nation, spread across six districts. Many services were already in
place when Saratoga incorporated in 1956. The City is proud to
be served by a variety of public agencies.
8
STAR ONE CREDIT UNITION
BIG BASIN BURGER BARTHE BANK BAR
Cookiesbeatebar
INDO CAFE
SOLE MIOROSE MARKET
CAROL’S ANTIQUES
The Inn at Saratoga
LA MERE MICHELLE
BIG BASIN CAFE
CLUB PILATES
STARBUCKS
BOOK GO ROUND
Min
t L
eaf
Cu
isin
e
Ch
ase
Ban
k
BELL TOWER CAFE
REDWOOD LOVE
TRIBE
FLORAL FANTASIA
PAINTBOX HAIR STUDIO
SARATOGA WINE STROLL
Bella Saratoga
BANK OF AMERICA
Bai Tong
D&H HAIR STUDIO
PLUMED HORSE
Deja & Co.
BERG SOFTWARE
Sip
an
Pe
ruvi
an
Un
cork
ed
KANDOO CAFE
Ho
ng
sG
ou
rme
tTEA LYFE
La F
on
du
e
PASTA ARMELLINO
Th
e B
asi
n
9
LOCATION SNAPSHOT
The 2016 Coldwell Banker Home Listing Report listed Saratoga as themost expensive housing market in the United States. In 2010Bloomberg Businessweek named Saratoga the most expensivesuburb in California. According to CNN Money 70.42% of Saratogahouseholds have an income greater than $100,000.
Saratoga also was ranked by Forbes in 2009 as one of America's top20 most-educated small towns. Bloomberg Businessweek alsonamed Saratoga's zip code 95070 the 18th richest zip code inAmerica in 2011. In 2018, data from the American Community Surveyrevealed that Saratoga was the 8th wealthiest city in the UnitedStates.
Union Pacific Railroad operates freight through the region. The railline travels parallel to Route 85. Passenger trains operated from 1908to 1964, delivering commuters to San Francisco in 90 minutes.Saratoga has no passenger train service: it has minimal bus service.
Saratoga also has a zoning code aimed at preserving a semi-ruralappearance. Saratoga emphasizes its semi-rural appearance byforegoing street lights and sidewalks on most residential streets. Thiscontributes to Saratoga's high housing costs.
The Blue Hills neighborhood of Saratoga has many hiking trails foruse by residents that are owned by the City of Saratoga.
1 MILE DEMOGRAPHIC SNAPSHOT
Population 30,153
Owner-occupied housing 84.6%
Median home value $2,000,000+
Median gross mortgage $4,000+
Median gross rent $3,091
Households 11,013
10
