Shopping Neighborhood

855 E Homestead Rd

855 E Homestead Rd, Sunnyvale, CA 94087

Listing Price: $7,500,000

Cap Rate
0.61%
Gross SF
6,295
Rentable SF
6,295
Price/Gross SF
$1,191.42
Lot Size
1.13 acres
Year Built
1972

Investment Overview

The subject property is 1.13-acre square shaped parcel with a 6,295 square foot restaurant building originally constructed in 1972. The site is being sold for land value and is zoned Administrative and Professional Office with a Planned Development Combining District. The current use, a sit-down restaurant, is permitted pursuant to a special use permit issued in 1971. Current zoning permits administrative, professional, medical, and research and development uses. The development standards permit building heights of up to 2 stories or 30 feet with 40% lot coverage. The planned development combining district may allow a use that is compatible with the neighborhood but deviates from current development standards. Such a proposal would require a miscellaneous plan permit or special development permit. The General Plan designation is commercial which supports retail and retail service uses. Residential development may be possible through a General Plan Amendment or Rezoning to a commercial zoning designation which permits residential uses; however, such an approach would take time and require the support of the City of Sunnyvale. Located in Sunnyvale, at the intersection of N Wolfe Road and E Homestead Road this site is ideally located near housing, employment, and shopping. It is directly adjacent to Cupertino and Apple Park, a 2.8 million square foot circular “spaceship” building on 175 Acres that is the corporate headquarters of Apple Inc. and is occupied by over 2,000 employees. Cupertino Village shopping center is across the street and Kaiser Permanente Santa Clara Medical center is 1.4 miles away. Downtown San Jose and Mineta International Airport are close by, about a 12-minute drive. The existing building is currently occupied by a local Vietnamese restaurant on a NNN lease that may be terminated by landlord with 6 months prior written notice. The offering presents a rare opportunity to acquire an extremely well-located infill development site at the western edge of Silicon Valley with a variety of possible development scenarios.

Investment Highlights

  • Planned Development Combining District provides flexibility
  • Across the street from Apple Park, Cupertino
  • In place income, landlord right to terminate lease
  • 1.13 Acre Development Site
  • O-PD Zoning allows a variety of commercial uses
  • 2 Story Height Limit, 40% lot coverage

Exclusively Listed By

Shopping Neighborhood

855 E Homestead Rd

Listing Price: $7,500,000

Cap Rate
0.61%
Gross SF
6,295
Rentable SF
6,295
Price/Gross SF
$1,191.42
Lot Size
1.13 acres
Year Built
1972

Investment Highlights

  • Planned Development Combining District provides flexibility
  • Across the street from Apple Park, Cupertino
  • In place income, landlord right to terminate lease
  • 1.13 Acre Development Site
  • O-PD Zoning allows a variety of commercial uses
  • 2 Story Height Limit, 40% lot coverage

Investment Overview

The subject property is 1.13-acre square shaped parcel with a 6,295 square foot restaurant building originally constructed in 1972. The site is being sold for land value and is zoned Administrative and Professional Office with a Planned Development Combining District. The current use, a sit-down restaurant, is permitted pursuant to a special use permit issued in 1971. Current zoning permits administrative, professional, medical, and research and development uses. The development standards permit building heights of up to 2 stories or 30 feet with 40% lot coverage. The planned development combining district may allow a use that is compatible with the neighborhood but deviates from current development standards. Such a proposal would require a miscellaneous plan permit or special development permit. The General Plan designation is commercial which supports retail and retail service uses. Residential development may be possible through a General Plan Amendment or Rezoning to a commercial zoning designation which permits residential uses; however, such an approach would take time and require the support of the City of Sunnyvale. Located in Sunnyvale, at the intersection of N Wolfe Road and E Homestead Road this site is ideally located near housing, employment, and shopping. It is directly adjacent to Cupertino and Apple Park, a 2.8 million square foot circular “spaceship” building on 175 Acres that is the corporate headquarters of Apple Inc. and is occupied by over 2,000 employees. Cupertino Village shopping center is across the street and Kaiser Permanente Santa Clara Medical center is 1.4 miles away. Downtown San Jose and Mineta International Airport are close by, about a 12-minute drive. The existing building is currently occupied by a local Vietnamese restaurant on a NNN lease that may be terminated by landlord with 6 months prior written notice. The offering presents a rare opportunity to acquire an extremely well-located infill development site at the western edge of Silicon Valley with a variety of possible development scenarios.

Exclusively Listed By

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