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AAA, San Jose, CA

AAA

CA, USA

Price $5,233,000
Cap Rate
NOI
Lease Term 4 Years Remaining
Lease Type Net, With Tenant Responsible For All Taxes, Insurance, And Maintenance, Excluding Roof, Structure, And Parking Lot
Rental Increases Annual Rental Increases
Year Built 2010
Building Size 6,200 SF
Lot Size 0.64 Acres (28,050 SF)
Status Sold
Lead Broker Information Michael T. Yuras, CCIM
Executive Managing Director
415.481.0788
michael.yuras@cushwake.com
CA RE License #01823291

Scott Crowle
Executive Director
415.604.4288
scott.crowle@cushwake.com
CA RE License #01318288

Vincent Aicale
Executive Director
415.690.5522
vince.aicale@cushwake.com
CA RE License #01728696

Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

Investment Highlights

NET LEASE WITH ANNUAL RENTAL INCREASES TO STRONG NATIONAL TENANT
» Long-term net lease to strong, nationally recognized tenant
» AAA has exercised its second option and has a long-standing history at this location
» Rare annual rental increases, providing a hedge against inflation
» Net lease requires minimal landlord management
» New roof and HVAC
» Excellent parking ratio of 8.1 parking stalls per 1,000 square feet
» Corporate lease to AAA, North America’s largest motoring and leisure travel organization, with over 61 million members

HIGH-TRAFFIC LOCATION IN LARGE, GROWING, AND EXTREMELY AFFLUENT CALIFORNIA SUBMARKET
» Excellent visibility and convenient access to 30,000 vehicles per day directly in front of the site on Stevens Creek Boulevard
» Beneficial proximity to highly trafficked San Jose thoroughfares, including Lawrence Expressway and Interstate 280 (combined 245,450 AADT)
» 543,675 residents live within a five-mile radius
» Average annual household income of $176,800 within a five-mile radius of the property, providing an extremely affluent customer base for the site
» Excellent location in a major commuter corridor, with close proximity to several high-density single-family developments
» Projected 12 percent average annual household income increase within one mile of the site in the next five years, poising AAA and San Jose for significant concurrent growth

BAY AREA LOCATION NEAR LARGE EMPLOYERS, RETAILERS, AND COMMUNITY HUBS – EXCELLENT VISIBILITY
» Outparcel to Stevens Creek Central shopping mall, adding to the site’s visibility
» Immediately surrounded by a strong mix of local and national retailers, including Safeway, Cost Plus World Market, Marshalls, Harbor Freight Tools, Bed Bath & Beyond, McDonald’s, and many more
» One mile from Apple Park, a major employment and industrial hub in San Jose (12,000 employees)
» Beneficial proximity to San Jose’s largest healthcare providers, including Kaiser Permanente Santa Clara (327 beds, 4,300 staff), Santa Clara County Medical Center (731 beds, 2,609 employees), and O’Connor Hospital (358 beds, 1,446 employees)
» Three miles from De Anza College (24,187 students)
» Eight miles from Moffett Federal Airfield (population 31,161)


Property Description

SOLD

The property is located on Stevens Creek Boulevard, with excellent visibility and convenient access to 30,000 vehicles per day directly in front of the location. The site serves an extremely large demographic, with 543,675 residents living within a five-mile radius of the location. The site maintains an excellent location in a major commuter corridor, with close proximity to several high density single-family developments. The property benefits from convenient access to Lawrence Expressway and Interstate 280, which experience a combined traffic count of 245,250 vehicles per day near the property. The site is located in an extremely affluent area, with an average annual household income of $176,800 within a five-mile radius of the property. With a projected 12 percent average annual household income increase within one mile of the site in the next five years, AAA and San Jose are poised for significant concurrent growth.

The property is centrally located near large employers, retailers, and community hubs. The site is outparcel to Stevens Creek Central shopping mall, funneling crossover visiblity directly to the location. The property is surrounded by a strong mix of local and national retailers, including Safeway, Cost Plus World Market, Marshalls, Harbor Freight Tools, Bed Bath & Beyond, McDonald’s, and many more. The site also resides one mile from Apple Park, a major employment and industrial hub in San Jose (12,000 employees). The location features a beneficial proximity to San Jose’s largest healthcare providers, including Kaiser Permanente Santa Clara (327 beds, 4,300 staff), Santa Clara County Medical Center (731 beds, 2,609 employees), and O’Connor Hospital (358 beds, 1,446 employees). Visibility is greatly increased by the property’s location three miles from De Anza College (24,187 students) and eight miles from Moffett Federal Airfield (population 31,161).

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