• For sale
SELF STORAGE BUILDING FOR SALE
The Orchard self-storage is an opportunity to build a fully entitled self-storage project within a Signature Project in an underserved area within the San Jose, California MSA. With only 4.57 square feet of supply per capita within the 3 mile radius and very limited supply on the eastern side of the 680 freeway (only 2 established competitors), this is an excellent opportunity to build a new, class A, multi-story, climate controlled facility within San Jose, “The Capital of Silicon Valley”.

Sale Note
The Planned Development (PD) approval allows for a minimum of 70,000 SF gross building size. The site is 0.76 acres and has an 80’ height limit, so increasing to five floors can easily be accomplished by simply adjusting the PD, which would be consistent with the PD zoning.

Based on the proposed 4-story design with just over 50,000 NRSF year 4 stabilized NOI is estimated at $710,502, offering an implied value of $14,200,000 (5.0% CAP rate).

Projected closing date Fall 2020.

Property Details