Contempo Plaza - 1207-1331 1st St, Gilroy, CA 95020

Contempo Plaza is located on at the West side of Gilroy near the affluent neighborhood of Eagle Ridge which, according to sold nest.com, has average home prices of $1,139,000. Contempo Plaza is an approximately 32,400 square foot neighborhood shopping center on a 2.21 acre site which offers both tenants and shoppers over 110 dedicated parking stalls. Contempo benefits from its excellent exposure on 1st St (also known as Highway 152), proximity to affluent Eagle Ridge, excellent tenant mix with (neighborhood, franchisee, regional and government tenants). The property's location on Highway 152 provides this property with strong traffic counts, close access to many regional and national retailers including: McDonalds, CVS, Chevron, Safeway and Wells Fargo. According to CoStar, as of 2018 traffic counts at the corner of 1st and Westwood were approximately 18,321 cars per day. Additionally, Contempo benefits from its close proximity to the affluent Eagle Ridge neighborhood, high household incomes ($94,734 within 1 mile radius) and a dense populations within the immediate trade area 59,851 residents within a 3 mile radius. Contempo Plaza offers an investor the rare opportunity to acquire a stabilized (90% occupied) neighborhood retail center in a Bay Area location. The center offers patrons and tenants over 110 dedicated parking stalls as well as excellent exposure to both Hecker Pass Hwy (152) and Westwood Dr. The center's strong tenant mix (local, franchisee, regional, and government), staggered lease end dates, long-term tenancies (approximately 43% of the center has been leased to the same tenants for 10+ years), and lack of any major deferred maintenance make this center an excellent choice for an investor seeking a performing asset in one of the strongest markets in the county.