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Urban-High Street

Downtown Palo Alto Retail

463 University Avenue, Palo Alto, CA 94301

Listing Price: $5,000,000

Cap Rate
1.40%
Gross SF
2,736
Rentable SF
2,736
Price/Gross SF
$1,827.49
Lot Size
0.06 acres
Year Built
1945

Investment Overview

Marcus & Millichap is pleased to bring to market 463 University Avenue in downtown Palo Alto, California. Currently occupied by Footwear Etc., this 2,736 square foot building benefits from its walkable location on University Avenue, with ample parking located behind the building in a public parking lot. Footwear Etc. has been at this location since 2005 and has a triple-net lease that runs through October 31, 2022. The property is located in Palo Alto, which is credited as being the birthplace of Silicon Valley. The world’s largest technology companies are headquartered in the area, including Apple, Google, Facebook, Cisco, and Oracle. Silicon Valley consistently receives more than 40% of all venture capital funding in the United States and is a center of technological innovation. Palo Alto is at the heart of the most concentrated high-tech digital region in the world. The site is located in Palo Alto, one of the most affluent communities in the state of California. Santa Clara County is the #2 highest income county in the state and neighboring San Mateo County is the #1 highest income county. The average household income within three miles of the property is $207,233 and the median income is $148,262 within the same radius. This compares to the average household income in Santa Clara County of $170,386 and the median household income of $123,045.

Investment Highlights

  • Prime Downtown Palo Alto Location on University Avenue - Midway Between Kipling & Cowper
  • Triple Net Lease with Rent Increases
  • Long-Term Tenancy Since 2005
  • Downtown Palo Alto Home to World-Class Retailers such as Apple, Restoration Hardware, HSBC Bank, Starbucks and More
  • Median Household Income with a One-Mile Radius is $
  • Proximate to High-Income Neighborhoods in Palo Alto, Menlo Park, Atherton and Los Altos
  • PROPERTY TOURS BY APPOINTMENT ONLY
  • Landlord Termination Right after July 1, 2021 by Providing 90-Day Advance Notice

Exclusively Listed By

Urban-High Street

Downtown Palo Alto Retail

Listing Price: $5,000,000

Cap Rate
1.40%
Gross SF
2,736
Rentable SF
2,736
Price/Gross SF
$1,827.49
Lot Size
0.06 acres
Year Built
1945

Investment Highlights

  • Prime Downtown Palo Alto Location on University Avenue - Midway Between Kipling & Cowper
  • Triple Net Lease with Rent Increases
  • Long-Term Tenancy Since 2005
  • Downtown Palo Alto Home to World-Class Retailers such as Apple, Restoration Hardware, HSBC Bank, Starbucks and More
  • Median Household Income with a One-Mile Radius is $
  • Proximate to High-Income Neighborhoods in Palo Alto, Menlo Park, Atherton and Los Altos
  • PROPERTY TOURS BY APPOINTMENT ONLY
  • Landlord Termination Right after July 1, 2021 by Providing 90-Day Advance Notice

Investment Overview

Marcus & Millichap is pleased to bring to market 463 University Avenue in downtown Palo Alto, California. Currently occupied by Footwear Etc., this 2,736 square foot building benefits from its walkable location on University Avenue, with ample parking located behind the building in a public parking lot. Footwear Etc. has been at this location since 2005 and has a triple-net lease that runs through October 31, 2022. The property is located in Palo Alto, which is credited as being the birthplace of Silicon Valley. The world’s largest technology companies are headquartered in the area, including Apple, Google, Facebook, Cisco, and Oracle. Silicon Valley consistently receives more than 40% of all venture capital funding in the United States and is a center of technological innovation. Palo Alto is at the heart of the most concentrated high-tech digital region in the world. The site is located in Palo Alto, one of the most affluent communities in the state of California. Santa Clara County is the #2 highest income county in the state and neighboring San Mateo County is the #1 highest income county. The average household income within three miles of the property is $207,233 and the median income is $148,262 within the same radius. This compares to the average household income in Santa Clara County of $170,386 and the median household income of $123,045.

Exclusively Listed By

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