property for sale San Jose, CA 95126 contents 01 The Offering & Property Information 02 Location & Market Overview 03 Investment Highlights 04 Amenities MARIE ANDERSON Lic 00919144 408 453 7468 [email protected] © 2020 CBRE, Inc. All Rights Reserved. AFFILIATED BUSINESS DISCLOSURE DISCLAIMER CBRE, Inc. operates within a global family of companies with many This Memorandum contains select information pertaining to the Property subsidiaries and related entities (each an “Affiliate”) engaging in a broad range and the Owner, and does not purport to be all-inclusive or contain all or part of commercial real estate businesses including, but not limited to, brokerage of the information which prospective investors may require to evaluate a services, property and facilities management, valuation, investment fund purchase of the Property. The information contained in this Memorandum management and development. At times different Affiliates, including CBRE has been obtained from sources believed to be reliable, but has not been Global Investors, Inc. or Trammell Crow Company, may have or represent verified for accuracy, completeness, or fitness for any particular purpose. clients who have competing interests in the same transaction. For example, All information is presented “as is” without representation or warranty Affiliates or their clients may have or express an interest in the property of any kind. Such information includes estimates based on forward- described in this Memorandum (the “Property”), and may be the successful looking assumptions relating to the general economy, market conditions, bidder for the Property. Your receipt of this Memorandum constitutes your competition and other factors which are subject to uncertainty and may not acknowledgement of that possibility and your agreement that neither CBRE, represent the current or future performance of the Property. All references Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ to acreages, square footages, and other measurements are approximations. interest or involvement in the sale or purchase of the Property. In all This Memorandum describes certain documents, including leases and instances, however, CBRE, Inc. and its Affiliates will act in the best interest other materials, in summary form. These summaries may not be complete of their respective client(s), at arms’ length, not in concert, or in a manner nor accurate descriptions of the full agreements referenced. Additional detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their information and an opportunity to inspect the Property may be made available respective businesses in a manner consistent with the law and all fiduciary to qualified prospective purchasers. You are advised to independently verify duties owed to their respective client(s). the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully CONFIDENTIALITY AGREEMENT investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS Your receipt of this Memorandum constitutes your acknowledgement that SOLELY AT YOUR OWN RISK. (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition The Owner expressly reserves the right, at its sole discretion, to reject any of the Property, (ii) you will hold it in the strictest confidence, (iii) you will or all expressions of interest or offers to purchase the Property, and/or to not disclose it or its contents to any third party without the prior written terminate discussions at any time with or without notice to you. All offers, authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. you will not use any part of this Memorandum in any manner detrimental to nor the Owner shall have any legal commitment or obligation except as set the Owner or CBRE, Inc. forth in a fully executed, definitive purchase and sale agreement delivered by the Owner. PMStudio_September2020 If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc. 3 01 executive summary PROPERTY INFORMATION PRICE $2,700,000 APN PERFECT OWNER/USER OR INVESTOR OR DEVELOPER OPPORTUNITY 277-20-018 THE OFFERING BUILDING SIZE PROPERTY OVERVIEW 3,600 SF The subject property is a single-story The building is cinder block with a beautiful commercial building with a total of 3,600 stone façade storefront. The building has a square feet and is demised into three flat roof with a tar and gravel covering. separate areas. LOT SIZE 9,450 SF Current use of Beauty Salon – Personal There is storefront parking and also street Services in the front of the building. The parking nearby. middle of the building currently is built out as a living quarters. The rear of the building is an improved auto garage with several YEAR BUILT amenities. 1958 Behind the garage is a working yard area The ingress /egress and driveway are and the rear of the property has a storage shared with adjacent property. and work area structure. DO NOT DISTURB TENANTS, PLEASE CONTACT AGENTS 5 PARCEL MAP 274 14 WEST SAN CARLOS STREET 35 36 37 38 39 40 62 PTN. LOT 1 41 34 PTN. LOT 1 42 63 33 43 44 32 64 45 PTN. LOT 1 264 18 65 31 46 13 30 5 47 16 4 WILLARD AVENUE 29 STREET PAGE MERIDIAN AVENUE 28 48 3 17 27 49 2 18 22 26 24 23 50 19 1 21 25 51 20 DOUGLAS STREET BLOCK 2 BLOCK 1 19 21 6 LIVING QUARTERS SALON LIVING QUARTERS 361 MERIDIAN AVE AREA AROUND SUBJECT PARCEL GARAGE WITH LIFT 7 02 location & Market overview 8 LOCATION & MARKET OVERVIEW The Subject Property is located in the Midtown and the Buena Vista area of San Jose. This area is benefitting from the interest from developers and from new commercial and residential tenants. Midtown San Jose is ½ block from the subject property and is a mixed use commercial and residential district of San Jose. The subject property is also close to the southwest of Downtown San Jose and east of West San Carlos. This area is in San Jose’s West San Carlos Urban Village Planning Area and is part of the Envision San Jose 2040. This 129-acre area represents a major commercial strip connecting the key nodes of Downtown San José, Diridon Transit Center, and Santana Row/Valley Fair Mall. The Valley Transportation Authority (VTA) is planning High-Intensity Urban Transit service along West San Carlos/Stevens Creek Corridor, connecting Downtown San José and San José State University with Cupertino and De Anza Community College. Given this location and access to transit, the West San Carlos Urban Village area is anticipated to experience significant new development and growth in the coming years. The San Jose City Council has approved numerous specific plans for key locations in San José to foster transit-oriented development, historic preservation, mixed uses, sensitivity to surrounding neighborhoods, and other strategic goals. Each specific plan explains the vision for future land use development in the plan area with a detailed land use plan, design guidelines, and implementation strategy. The subject property falls in the Specific Plan of Mixed Use residential-Urban Village which calls for a new mixed-use community that could include high- density commercial and residential uses oriented towards transit, while maintaining some of the industrial and service commercial uses. · Property is located in a transition area with many new Mixed-Use Developments of Multi- Family Residential & Commercial/Retail Services · Located in Buena Vista/Midtown San Jose, on Meridian Ave in Between Douglas St & West San Carlos Ave · Highly Underserved Trade Area *Buyer to verify with City of San Jose 9 DOWNTOWN SAN JOSE 10 SALON LIVING QUARTERS GARAGE KITCHEN LIVING QUARTERS 11 DEMOGRAPHICS 5 Miles 3 Miles POPULATION POPULATION GROWTH 36,833 (1 Mile) 0.97% (1 Mile) 244,301 (3 Miles) 0.97% (3 Miles) 1 Mile 661,859 (5 Miles) 0.69% (5 Miles) MEDIAN AGE AVG HH INCOME 35.6 (1 Mile) $133,795 (1 Mile) 35.6 (3 Miles) $139,457 (3 Miles) 36.2 (5 Miles) $140,325 (5 Miles) AVG HH SIZE RETAIL SPENDING 2.49 (1 Mile) $xx (1 Mile) 2.51 (3 Miles) $xx (3 Miles) 2.84 (5 Miles) $xx (5 Miles) Source: Esri 12 03 Investment Highlights 13 INVESTMENT HIGHLIGHTS The subject property is located in the heart of Silicon Valley, one of the wealthiest and fastest-growing areas in the United States. San Jose has a population of over 1,000,000 residents. The property is near one of the most heavily traveled freeways in the Bay Area (Highway 280). The subject property is near Downtown San Jose, Downtown Willow Glen, Rose Garden District, close in proximity to Santana Row, the premier destination for shopping, dining and living and Westfield Valley Fair Mall one of the largest malls in the United States and has the highest-sales volume in California, with $1,200 per square foot a mere ± 3 miles away. The subject property at 361 Meridian Ave is located a block from Meridian at Midtown. This is location is in midtown San Jose, less than a mile away from the planned Google campus which will house over 20,000 employees. Meridian at Midtown is a Multi family mixed use project that includes 218 apartment units with 14,177 SF of premier retail space serving the local community and enhancing the revitalized neighborhood. The Midtown district of San Jose, CA and around the surrounding area are conveniences like Starbucks, Safeway, Walgreens and neighborhood favorite brunch spot, The Breakfast Club at Midtown.