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Lincoln Auto Dealership Purchases 1.1 Acre Ground Lease At 3155 Stevens Creek Boulevard For $10M

Property Image
SOLD
$10,000,000
Yuri Sergunin
J.J. Taughinbaugh

California

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Retail
Sold 07/29/2024
the dealplayerscompscontact
Property Image
SOLD

Lincoln Auto Dealership Purchases 1.1 Acre Ground Lease At 3155 Stevens Creek Boulevard For $10M

3155 Stevens Creek Boulevard

See Similar Deals
Retail
Sold 07/29/2024
Yuri Sergunin
J.J. Taughinbaugh
the dealplayerscompscontact
Contact now

Summary

CALIFORNIA
Asset Type:Retail
Transaction Type:Sale

The property involved in this transaction is a ground lease located at 3155 Stevens Creek Boulevard in San Jose. This retail asset encompasses an area of 1.1 acres. The sale price amounted to $10,000,000.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $10,000,000
  • Address: 3155 Stevens Creek Boulevard
  • Market: San Jose
  • Acres: 1.1
  • Buyer: Lincoln Auto Dealership
  • Broker Representatives: J.J. Taughinbaugh & Yuri Sergunin - Marcus & Millichap

Marcus & Millichap facilitated the off-market sale, and the buyer, Lincoln Auto Dealership, acquired the property from an undisclosed seller. It is noted that the buyer had already held the leasehold improvements prior to this transaction.

Players

Yuri Sergunin
Marcus & Millichap
Yuri Sergunin
4 deals$20M volume
BROKER
J.J. Taughinbaugh
Marcus & Millichap
J.J. Taughinbaugh
4 deals$20M volume(650) 391-1807
BROKER

Details

SOLD
IMAGE: - GROUND LEASE IMAGE: J.J. Taughinbaugh & Yuri Sergunin DATE: 07/29/2024 ADDRESS: 3155 Stevens Creek Boulevard MARKET: San Jose ASSET TYPE: Retail ~ ACRES: 1.1 BUYER: Lincoln Auto Dealership BROKERS: J.J. Taughinbaugh (@JTaughy) & Yuri Sergunin - Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $10,000,000 NOTE: Marcus & Millichap arranged the $10 million off-market sale of a 1.1-acre ground lease at 3155 Stevens Creek, San Jose. The buyer, Lincoln Auto Dealership, acquired the property from an undisclosed seller and already held the leasehold improvements.

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Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$533,333.33

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$35,527.90
Cash-on-Cash Return-1.27%
Monthly Debt Service$47,405.10
Annual Debt Service$568,861.22