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For Sale | $8,500,000
35 S Market Street includes a two story 23,973 sq. ft.
building on a .34 acre parcel and is 100% occupied.
Basement area of 3,080 sq. ft. is not included in building square footage and fetches $.50 per sq. ft. from first floor tenant. There are 2 units currently rented as office use with Central HVAC. 35 S Market Street benefits from strong proximity to Downtown San Jose's main intersection of Santa Clara Street and Market Street.
Adjacent to subject is a new 285-unit high rise apartment complex.
Charles Cornwell, J.D.
Senior Investment Advisor
858.337.7297
cornwelc@svn.com
BRE #01307658
Sal Zimmitti CCIM
Advisor
858.774.0145
sal.zimmitti@svn.com
BRE #01367646
Kevin D. Chin, CCIM
Managing Director
415.922.2900 x101 kevinc@svn.com
BRE #00696127 www.svnaag.com

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35 S Market Street • San Jose, CA 95113
Sale Price:
Cap Rate:
NOI:
Lot Size:
Building Size:
Building Class:
Year Built:
Renovated:
Zoning:
Market:
Sub Market:
Cross Streets:
$8,500,000
4.39%
$373,490
0.34 Acres
23,973 SF
B
1889
2013
CG
South Bay
San Jose
Post Street & South San
Pedro Street
Property
Location
This historical trophy property provides potential increase in value by raising below market rental rates.
Seller has reduced price so that buyer must assumes existing $4,371,000 mortgage at 5.87% fixed interest rate amortized to 11/1/2025. Mills Act allows property taxes to be reduced considerably. The area is one of the more stable rental markets in the region. Upgrades include 15 ton central HVAC and 200 megabits internet connectivity. Basement area of 3.080 sq. ft. is not included in building square footage. Next to property is a new 285 unit high rise apartment complex.
Subject property is located along South Market Street and within the San Jose sub-market. The area is one of the more stable rental markets in the region. Local residents are within a short distance to retail shops, schools, professional offices and public transportation. 35 S Market Street offers convenient access to Highway 87 and
Highway 280.
Presented by CHARLES CORNWELL, J.D.
858.337.7297
cornwelc@svn.com
BRE #01307658
SAL ZIMMITTI CCIM
858.774.0145
sal.zimmitti@svn.com
BRE #01367646
KEVIN D. CHIN, CCIM
415.922.2900 x101 kevinc@svn.com
BRE #00696127
All Sperry Van Ness® Offices Independently Owned & Operated.
www.svnaag.com
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
2

Office Property For Sale
All Sperry Van Ness® Offices Independently Owned & Operated.
www.svnaag.com
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
3

3/1/15-2/28/16
Litbit & Electric Cloud Combined Rental Income Year 1
Trash
San Jose City Business Tax
San Jose City Business Tax
Janitorial daily service water/fire water/domestic
Janitorial exterior windows bi-annual
Janitorial partition glass clean quarterly
Elevator alarm service
Elevator quarterly maintenance
Elevator annual test
Fire sprinklers alarm service
Fire sprinklers water meter
HVAC quarterly service
Electric and Gas PG&E
Insurance
Property Taxes (Mills Act for historic buildings)
Phone service for alarms, fire, sprinklers and elevator
Roof contract annual
Management
Micellaneous repairs, mech, elect, plumb, roof
Water meter for building
Projected Total Expenses Year 1
NOI Year 1
Cap Rate Year 1
Assummable Mortgage
Balance
Rate
Monthly paym
Annual
4,371,351
5.875
29,484
353,808
607,483.60
3,224
80,000
12,000
40,490
1,620
2,400
15,000
25,000
1,800
233,994
373,490
4.39%
5,202
720
1,379
31,725
3,000
1,600
448
1,572
1,330
3,324
2,160