Development Project for Sale in Downtown San Jose
Uses:
Hotel (plans approved)
Retail
Mixed Use
Address:
734-760 South First Street
San Jose, CA 95113
Total Land: 25,500 sq ft
Width: 204'
Depth: 125'
Height Limit: 50'
Parcels: 4 (adjacent)
Zoning: Commercial Pedestrian
Asking Price: see below
This is a rare opportunity to purchase a development site on South First Street in Downtown San Jose, less than a half mile from the San Jose Convention Center. City has approved plans for a 4-story 84-unit hotel. Other possibile uses include a retail strip center or a mixed use project with ground floor retail and apartments above. The site was re-zoned from light industrial to commercial pedestrian in 2001.
736 S. First (8,262 sq ft) is currently occupied by a dog daycare business. The tenant's lease will expire soon. In 2005 the owners invested approximately $500,000 in improvements including: siesmic retrofitting, 15 tons of air conditioning, 2 ADA restrooms, furred walls, 3-phase power, new composite shingle roof, 10' drop ceiling, insulation, anti-graffiti windows, new doors, and awnings.
748 S. First (4,309 sq ft) was occupied by the dog daycare business but they recently downsized so this building is currently vacant but ready for occupancy.
760 S. First (8,615 sq ft) is vacant and unimproved.
Parcels
736 S. First Street: APN# 472-17-015 = 8,262 sq ft
748 S. First Street: APN# 472-17-014 = 4,309 sq ft
000 S. First Street: APN# 472-17-013 = 4,306 sq ft (parking lot)
760 S. First Street: APN# 472-17-012 = 8,615 sq ft
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Plans View 3 different architectural plans for this property |
Purchase option #1
Purchase all 4 parcels (25,592 sq ft)
$2,850,000 ($111/sq ft)
Purchase option #2
Purchase the improved retail properties which includes 734, 748 and the parking lot - a total of 16,977 sq ft. With this purchase option a buyer can move in begin operating a business.
$2,500,000 ($147/sq ft)
Purchase option #3
Purchase the vacant unimproved parcel, 760 S. First St. (8,615 sq ft)
$689,000 ($80/sq ft)
Owner is motivated, all reasonable offers will be considered.Contact us and we'll put you in touch with the owner.
Disclaimer: all information herein is believed to be correct, but we do not guarantee its accuracy and rely on prospects to rely only on their own investigations.