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Chevron, San Jose, CA

Chevron

San Jose, CA

Price $3,996,000
Cap Rate 5.00%
NOI $199,800
Lease Term 10 Years
Lease Type Absolute NNN, with Tenant Responsible for All Taxes, Insurance, and Maintenance, Including All Structural and Nonstructural Repairs and Replacements
Rental Increases 10% Rental Increases Every 5 Years
Year Built
Building Size C-Store SF is Approx. 1,100 SF
Lot Size 0.28 Acres (12,197 SF)
Status Under Contract
Lead Broker Information Ryan Forsyth
Executive Director
415.413.3005
ryan.forsyth@cushwake.com
CA RE License #01716551

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

Investment Highlights

ABSOLUTE NNN LEASE WITH SCHEDULED RENTAL INCREASES
» No landlord management, ideal for an out-of-area investor
» 10% rental increases every five years, providing a hedge against inflation

HIGH-TRAFFIC LOCATION AT SIGNALIZED HARD CORNER DIRECTLY OFF INTERSTATE 280
» Excellent access and visibility to 77,905 vehicles per day at signalized intersection
» Immediate access to Interstate 280 on-ramp and off-ramp
» Closest gas station to Interstate 280 – 210,000 AADT

CENTRAL LOCATION WITH ROBUST DEMOGRAPHICS
» Within a five-mile radius of downtown San Jose, San Jose International Airport, Santa Clara University, San Jose State University, upscale retailers, and major tourist attractions
» Adjacent to the Winchester Mystery House and less than three miles from SAP Center, home to the NHL’s San Jose Sharks
» Less than one mile from Santa Clara Valley Medical Center (5,103 employees) and Apple’s 40-acre campus (estimated 16,000 employees once completed)
» Population of 588,858 with average household incomes of $117,807 within a five-mile radius

HIGH QUALITY CONSTRUCTION WITH EXTRAMILE AND CARWASH
» Location features ExtraMile convenience store, increasing customer convenience and sales revenue
» ExtraMile offers a wide range of products, including packaged snacks, hot food items, cold beverages, and freshly brewed Seattle’s Best Coffee

Click Here to Download Offering Memorandum


Property Description

The property is located at the signalized hard corner of Moorpark Avenue and South Winchester Boulevard, with nearly 78,000 vehicles per day at the intersection. Interstate 280’s Winchester Boulevard off-ramp is immediately adjacent to the property, providing a steady flow of traffic. Interstate 280, which connects San Jose to San Francisco and other major cities in the Bay Area, has a traffic count of 210,000 vehicles per day. The property is close to major retail centers, with Santana Row and Westfield Valley Fair less than a mile from the site. Santana Row and Westfield Valley Fair feature a wide range of upscale tenants, including Crate & Barrel, Nordstrom, Bloomingdale’s, Sur la Table, Apple, Cartier, and Versace, among many others.

The property benefits from its central location in San Jose, near major landmarks and businesses. The property is just over three miles from San Jose International Airport and downtown San Jose. SAP Center, home to the San Jose Sharks of the National Hockey League, is less than three miles from the site. Additionally, the Winchester Mystery House, a historical mansion that draws large numbers of tourists, is just across Interstate 280 from the property. Visitors traveling to the Winchester Mystery House on Interstate 280 take the Winchester Boulevard exit, which provides convenient access to the subject property. Several current and future employment centers are near the property. The 574-bed Santa Clara Valley Medical Center is less than a mile from the site. The hospital has over 5,000 full-time employees. Additionally, Apple’s new 40-acre office and research campus is currently under construction just over three miles from the property. Once completed, the campus will become Apple’s new headquarters and is expected to employ 16,000 people.

Contact Us About This Property

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