7-Eleven 3111 Payne Avenue, San Jose, CA Cap Rate 3.85% East San Jose (San Jose, California, US ) Built

$2,987,000 USD
Dollars

BAI-MEX Bienes Raíces y Negocios

  • Type: Commercial
  • Style: Commercial
  • Size: 2,620 sq. ft.
  • Development Level: Built
  • Lot Size: 22651 sq. ft.

Description

7-Eleven 3111 Payne Avenue, San Jose, CA Cap Rate 3.85%

Cap Rate: 3.85%
NOI: $115,000
Building Size: 2,620 sqft
Lot Area: 22,651 sqft
Tenancy: Single
Lease Expire Year: 2032

Price: $2,987,000 USD

DESCRIPTION
The subject property is prominently located on Payne Avenue (12,751 AADT) adjacent to its signalized intersection with the Winchester Boulevard retail corridor (24,029 AADT), less than a mile from the San Tomas Expressway (44,513 AADT) and CA-17 (184,800 AADT) arterials.​ The site benefits from dense, affluent infill demographics with a total daytime population of 1,937,368 within a fifteen mile radius and total daytime population of 614,479 within 5 miles of the site.​ Average household income within 5 miles of the property is $164,551, with nearly 60% of households earning more than $100,000 annually.​ Median home value within a 5 mile radius exceeds $1.2 million.​

The property benefits from an irreplaceable infill location in close proximity to shopping centers, major retail tenants, employers, and schools.​ Shopping centers in the surrounding area include The Pruneyard, anchored by Trader Joe’s, Marshall’s, & Sports Basement; Hamilton Shopping Center, featuring Whole Foods & Ross; Campbell Plaza, anchored by Safeway & Dollar Tree; West Park Plaza, anchored by Rite Aid; Isabella Plaza, anchored by Walgreens & O’Reilly Auto Parts; Camden Park, anchored by Lucky & CVS; Cambrian Park Plaza, anchored by Dollar Tree and BevMo; Hillsdale Center, anchored by Target, Home Depot, and TJ Maxx/Homegoods; Kirkwood Plaza, anchored by Nob Hill Foods & Walgreens; San Tomas Plaza, featuring Dollar Tree and AutoZone; El Paseo de Saratoga, with tenants including Lucky, REI, Petco, ULTA, and AMC Theaters; Westgate Center, anchored by Target & Nordstrom Rack; Westgate West, featuring Trader Joe’s, CVS, Sprouts Farmer’s Market, BevMo!, and Orchard Supply Hardware.​ Cambrian Park Plaza is slated for redevelopment as a mixed-use project featuring 58,000 square feet of retail space, 378 homes, 229 hotel rooms, and an assisted living facility.​ Other major retail tenants in the surrounding area include Lunardi’s Markets, Smart & Final Extra, Safeway, Walmart Neighborhood Market, Pet Food Express, Home Depot, Big Lots, and more.​

The site is additionally located less than two miles from Westfield Valley Fair Mall and Santana Row, an upscale 1.7+ million square foot mixed-use shopping center with retail tenants including Tesla, Best Buy, Crate & Barrell, The Container Store, Gucci, Kate Spade, CineArts Theater, Amazon Books, H&M, Free People, Anthropologie, and more, more than 830 residential units, and 376,000+ square feet of office space.​ The center recently added an additional 1.7 million square feet of office space, 61,500 square feet of retail, and 258 residential units, and draws more than 12 million visitors per year.​

HIGHLIGHTS
• New 12-Year Corporate Net Lease to 7-Eleven with with Scheduled Rental Escalations - Tenant Extended Term Early
• Investment Grade, Pandemic Resistant Tenant Rated AA- by S&P and Baa1 by Moody’s
• Daytime Population of 1.9 million within 15 mile Radius
• Strong Intrinsic Value in Infill Bay Area Market Where Demand for Real Estate Far Exceeds Supply
• Average Household Income of $164,551 within 5 Mile Radius
• Less than 2 Miles from Santana Row – 1.7 Million Square Foot Mixed-Use Center with Tenants Including Tesla, Crate & Barrell, Gucci, Kate Spade, Free People, Anthropologie, and
more
• San Jose is Largest City in Northern California & Among Wealthiest Cities in the World
• Approximately 7 Miles from Downtown San Jose and 50 Miles from San Francisco

For more information:
Javier Tamez Martínez.
jtamez@bai-mex.com
Celular: +52 (81) 1599 75 36
Podemos encontrar propiedades comerciales e industriales para invertir en cualquier ciudad y estado de estados unidos.

Attachments

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Information is deemed to be correct but not guaranteed.