MULTI-TENANT OFFICE BUILDING ±10,272 SF Building with ±950 – 5,995 SF Available for Owner-User
KIDDER.COM 3131 S BASCOM AVE, SAN JOSE, CA | OFFERING MEMORANDUM 01 TABLE OF PROPERTY SUMMARY
CONTENTS 02 PROPERTY DESCRIPTION
03 SBA FINANCING
04 EXCLUSIVELY LISTED BY MARKET OVERVIEW
NIGEL KEEP KYLE NELSON 408.588.2318 408.588.2383 [email protected] [email protected] LIC N° 01367758 LIC N° 01828045 KIDDER.COM
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kidder Mathews and should not be made available to any other person or entity without the written consent of Kidder Mathews. This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kidder Mathews has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein. This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the information and bears all risk for any inaccuracies. 01 PROPERTY SUMMARY
3131 S BASCOM AVE OFFERING MEMORANDUM KIDDER MATHEWS 3 PROPERTY SUMMARY
Kidder Mathews, as Exclusive Advisor, is pleased to present the exceptional opportunity to acquire a 100% fee interest on 3131 South Bascom Avenue in San Jose, California PROPERTY OVERVIEW
Address 3131 S Bascom Ave, San Jose, CA THE OFFERING and downtown Campbell including Building Size ±10,272 SF This two-story office building The Pruneyard Shopping Center via located on the border of Campbell/ South Bascom Avenue. Site Area ±20,038 SF / 0.46 AC San Jose has a unique buildout and is perfect for an owner-user/investor Incredible and unparalleled Year Built 1984 (Renovated in 1997) in one of the most sought-after location. Ease of access to areas of the Silicon Valley. Medical Downtown San Jose, Norm Mineta Occupancy 40% as of September 1, 2020 use is allowed at the property. This San Jose International Airport, *Rent Roll Available with signed Confidentiality Agreement. well-located property within the Santana Row, Westfield’s Valley Silicon Valley has excellent access Fair, and close proximity to Good to Highway 17 via Camden Avenue Samaritan Hospital.
3131 S BASCOM AVE OFFERING MEMORANDUM KIDDER MATHEWS 4 INVESTMENT HIGHLIGHTS
WITHIN close proximity to The Pruneyard, Santana Row, Los Gatos, and Good Samaritan Hospital
MEDICAL use is allowed at the property
LOCATED on the border of one of the most desirable cities in the Silicon Valley- Campbell
SAN JOSE Class B office vacancy rate as of now is approximately 9.3%
IMMEDIATE access to Highway 17 and Highway 85, providing commuter access to the North and South Bay regions
MONUMENT signage for tenant’s use
PARTIALLY covered parking
3131 S BASCOM AVE OFFERING MEMORANDUM KIDDER MATHEWS 55 1ST FLOOR FLOORPLAN
VACANT
SUITE 100 ±2,093SF
SUITE 110 SUITE 150 ±950 SF ±1,200 SF
SUITE120 ±600 SF SUITE140 ±200 SF
FLOOR PLANS NOT TO SCALE
3131 S BASCOM AVE OFFERING MEMORANDUM KIDDER MATHEWS 6 2ND FLOOR FLOORPLAN
VACANT
SUITE 230 ±1,695 SF
SUITE 250 ±1,200 SF SUITE 220 ±1,232 SF
SUITE 200 ±950 SF
SUITE 210 MEZZANINE / UNUSABLE ±152 SF
SUITE 200: MONTH TO MONTH AVAILABLE TO OCCUPY FOR AN OWNER USER AT CLOSE FLOOR PLANS OF ESCROW NOT TO SCALE
3131 S BASCOM AVE OFFERING MEMORANDUM KIDDER MATHEWS 7 SAN JOSE INTERNATIONAL SANTA CLARA AIRPORT
EAST WESTFIELD DOWNTOWN SAN JOSE VALLEY FAIR & SAN JOSE SANTANA ROW
Y P X E S A M
O
T
N A S BASCOM AVE
S WINCHESTER BLVD LINCOLN AVE
HAMILTON AVE Y
P X E DOWNTOWN PRUNEYARD EN AD CAMPBELL SHOPPING M L
CENTER A
WILLOW GLEN CAPITOL EXPRESSWAY AUTO MALL
HILLSDALE AVE SUBJECT PROPERTY
CAMD EN
A V E S BASCOM AVE WESTFIELD OAKRIDGE
UNION AVE
ALMADEN GOOD SAMARITAN HOSPITAL (5 MIN DRIVE)
3131 S BASCOM AVE OFFERING MEMORANDUM KIDDER MATHEWS 8 02 PROPERTY DESCRIPTION
3131 S BASCOM AVE OFFERING MEMORANDUM KIDDER MATHEWS 9 PROPERTY SUMMARY
3131 Bascom Ave, San Jose, CA Address 95008 No. of Units 10
Building Size ±10,272 SF
Year Built 1984 PROPERTY Site Area 20,037 SF / 0.46 AC Zoning C1, Medical Use is Allowed
Parcel No. 414-03-012 DESCRIPTION Parking Ratio 3.4/1,000 SF
CONSTRUCTION SPECIFICATIONS
No. of Buildings 1
No. of Floors 2
Structure Wood Frame
Foundation Slab on Grade
Roof Pitched, Single Composition
Parcel No. 414-03-012
3131 S BASCOM AVE OFFERING MEMORANDUM KIDDER MATHEWS 10 CAMDEN AVE
SUBJECT PROPERTY
S BASCOM AVE
3131 S BASCOM AVE OFFERING MEMORANDUM KIDDER MATHEWS 11 03 SBA FINANCING
3131 S BASCOM AVE OFFERING MEMORANDUM KIDDER MATHEWS 12 SBA FINANCING Up to 90% Financing on owner-occupied Commercial Real Estate
PROPOSED SBA 504 LOAN AS OF 8/21/20 OWNERSHIP BENEFITS PER MONTH 3131 S BASCOM AVE, SAN JOSE, CA ±10,272 SF COMMERCIAL BUILDING Monthly Appreciation (1.50% Annually) ($7,375.00)
Purchase Price $574 per square foot $5,900,000 Monthly Depreciation (40% Tax Bracket, Annually) ($3,278.00)
CDC Fees (2.65% financed by CDC) $65,000.00 TOTAL ADJUSTED MONTHLY COSTS $5,356.00
CDC Preparation Fee $2,000.00 NET ADJUSTED PRICE PER SQ. FT. $0.52
Bank Loan Fee $44,250.00
Estimated Appraisal, Escrow, Title $15,000.00
PROJECT COSTS $6,026,250.00 PROPERTY VALUE AND OWNER'S EQUITY
VALUE LOAN BALANCE EQUITY BORROWER COSTS Year 5 $6,355,976 $4,604,093 $1,751,883 Year 10 $6,847,191 $3,701,836 $3,145,355 Borrower Costs* $651,250.00 Year 15 $7,376,369 $2,643,866 $4,732,503 Bank Loan $2,950,000 Year 20 $7,946,445 $1,400,992 $6,545,453 SBA 504 Loan $2,425,00.00
$6,026,250.00 MONTHLY COSTS 90% SBA FINANCING
Monthly Payment (Bank) $15,662.00 FINANCE LOAN SIZE TERM RATE TYPE PACKAGE Monthly Payment (SBA) 10,626.00
Monthly Payment (Taxes) $5,531.00 Bank Loan $2,950,000 25 Years 4.00% Fixed for five years
Monthly Payment (Insurance) $615.00
Monthly Rental Income ($16,425.00) SBA 504 Loan $2,425,000 25 Years 2.26% Fixed
COMBINED MONTHLY PAYMENT $16,009.00
NET ADJUSTED PRICE PER SQ. FT. $1.56
3131 S BASCOM AVE OFFERING MEMORANDUM KIDDER MATHEWS 13 04 MARKET OVERVIEW
3131 S BASCOM AVE OFFERING MEMORANDUM KIDDER MATHEWS 14 Mediterranean climate, and extremely high cost of living. San Jose's location within the booming high tech industry, as a cultural, political, and economic San Jose is a large city surrounded center has earned the city the nickname "Capital by rolling hills in Silicon Valley, of Silicon Valley". San Jose is one of the wealthiest a major technology hub in major cities in the United States and the world, and has the third highest GDP per capita in the world (after California's Bay Area. Architectural Zürich, Switzerland and Oslo, Norway), according to the landmarks, from the 1883 Brookings Institution. The San Jose Metropolitan Area Italianate-style Oddfellows has the most millionaires and the most billionaires in the building to Spanish Colonial United States per capita. With a median home price of Revival structures, make up the $1,085,000, San Jose has the most expensive housing downtown historic district. The market in the country and the fifth most expensive downtown area is also home to housing market in the world, according to the 2017 the Tech Museum of Innovation, Demographia International Housing Affordability devoted to the exploration of Survey. Major global tech companies including Cisco MARKET science and technology. Systems, eBay, Adobe Inc., PayPal, Broadcom, Samsung, Acer, Hewlett Packard Enterprise, and Zoom maintain their headquarters in San Jose, in the center of Silicon San Jose is notable as a center Valley's population of families and young professionals. OVERVIEW of innovation, for its affluence,
1.03M
TOTAL POPULATION
$104K
MEDIAN HOUSEHOLD INCOME
NO 2.
MOST DIVERSE SUBURBS IN SANTA CLARA COUNTY
3131 S BASCOM AVE OFFERING MEMORANDUM KIDDER MATHEWS 15 Campbell, California is a suburban residential community located south of Santa Clara and southwest Pruneyard Shopping Center, and business complexes in of San Jose. Ranked one of the the city, as Campbell is primarily a suburban residential best places to live in California, area. Campbell offers residents an urban Campbell has also been a home to top Silicon Valley suburban mix feel with plently of businesses such as Ebay, Barracuda Networks, and local restaurants, parks, and shops many other upcoming tech businesses. As Silicon and just a short drive away from Valley is the leading hub of high-tech innovation top Silicon Valley businesses and and development, all areas of the valley have been attractions. attracting skilled workers which has enabled firms of MARKET all sizes and at all growth stages. Campbell has become of of Silicon Several factors contribute to Campbell's thriving Valley's desirable places to live. city, from its quaint historic downtown to its diverse There are few large shopping population of families and young professionals. OVERVIEW centers, such as the well-known
43K
TOTAL POPULATION
$119K
MEDIAN HOUSEHOLD INCOME
NO 4.
MOST DIVERSE SUBURBS IN SANTA CLARA COUNTY
3131 S BASCOM AVE OFFERING MEMORANDUM KIDDER MATHEWS 16 EXCLUSIVELY REPRESENTED BY
NIGEL KEEP 408.588.2318 [email protected] LIC N° 01367758
KYLE NELSON 408.588.2383 [email protected] LIC N° 01828045
KIDDER.COM