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Listed by Richard G. Matusich & Assoc., Inc.
$ 2,975,000
Est. payment | /mo
6,986 SqFt
$ 2,975,000
Est. payment | /mo
6,986 SqFt
Key Details
Property Type Commercial
Sub Type Comm Ind For Sale
Listing Status Active
Purchase Type For Sale
Square Footage 6,986 sqft
Price per Sqft $425
MLS Listing ID ML82056218
HOA Y/N No
Year Built 1980
Lot Size 0.624 Acres
Property Sub-Type Comm Ind For Sale
Source Datashare MLSListings
Property Description
2470 S. Winchester is an approx. 0.62-acre site currently improved w/a multi-tenant office building. The site has the potential to be redeveloped at a density of 100 dwelling units per acre due to its proximity to the VTA light rail. The property is located less than 1/4 mile from a VTA light rail stop making it eligible for redevelopment under Senate Bill 79. The property is designated as a Tier 2 site and can be developed with a mixed-use project up to 65 feet in height; it must have a minimum 3.0 residential floor area ratio. Currently, the building is 100% leased to 5-tenants. All of the tenants have leases or options that expire within the next 5-years. This provides an incredible opportunity to acquire a cash flowing asset below land value while pursuing development approvals. The City has identified the property as a Housing Opportunity Site in its Housing Element update in 2023. This makes redevelopment of the site important to the city being able to meet their housing production requirements. This site is less than 1/4 mile from the Winchester Station on the VTA Green Line. It is 1/2 mile from the interchange of Highway-17 & San Tomas Expressway. The property is a short commute to major employers in central San Jose, as well as Los Gatos, Santa Clara & Cupertino.
Location
State CA
County Santa Clara
Interior
Fireplace No
Building
Water Public
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Qayes Abdulla
REALTOR® Lic# DRE# 02150727