FOR SALE N. 5TH STREET SAN JOSE, CA SAN JOSE CONCERT HALL / THEATER. Partnership. Performance. PROPERTY SUMMARY FEATURES
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1 72 FOR SALE SAN JOSE CONCERT HALL / THEATER N. 5TH STREET PROPERTY SUMMARY LOCATION: 72 N. 5th St San Jose, CA ASKING PRICE: $5,950,000 BUILDING TYPE: BUILDING SIZE: LAND SIZE: ZONING: APN: YEAR BUILT: 1923 OCCUPANCY: Freestanding Theatre Approximately 15,020 sq. ft Approximately 12,634 sq. ft A(PD) R4 Zoned Land Vacant at close of escrow FEATURES One half block from San Jose City Hall Excellent long-term development opportunity Ideal for corporate events, seminars, or other private receptions 92' of frontage on 5th Street High visibility location 318 seat main theater 80 seat recital hall 180 seat presentation room The above statement was made based upon information furnished to us by the owner or from sources we believe are reliable. While we do not doubt its accuracy, we have not verified it and we do not make any guarantee, warranty or representation about it. The property offered is subject to prior sale, lease, change of price or withdrawal from the market without notice.
2 Trianon Theatre is a Premier Event Venue in San Jose Just one block from City Hall in downtown San Jose, lies the historic Trainaon Theatre, whose unsurpassed acoustics in its Main Theatre attract many of the Bay Area's top performing arts groups, including San Jose Chamber Music Society, San Jose Chamber Orchestra, San Jose International Piano Competition, Steinway Society The Bay Area, South Bay Guitar Society, Mission Chamber Orchestra, San Jose Chamber Youth Orchestra, Fremont Mission Music Institute, and Music Teacher Association of California student's recitals. The theatre offers rental of multiples spaces (Main Theatre, Recital Hall, Banquet Hall) for corporate meetings, seminars, graduations and award ceremonies, stand-up comedy shows, and private receptions. In addition, the building houses 20 executive offices for small non profit organizations, business owners and other professionals. History Built in 1923, the Trianon Theatre is reminiscent of the Grand Trianon and the Petit Trainon on the grounds of Versailles near Paris, both acclaimed for their artful expression of sublime simplicity. The theatre has been known over the past many years as Le Petit Trainon. Built originally as a house of worship for the Christian Assembly by accomplished architect, William Binder, in 1923, the theatre's main auditorium possesses excellent acoustics and seats 318. Binder took inspiration fro design of the building from Le Petit Trainon, the miniature chateau of the palace grounds of Versailles, which was built in 1761 for Madame de Pompadour, favorite of King Louis XV. The building has been said to be the best example of classic architecture in the city and still looks exactly as Binder designed it in 1923.
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4 N 6 th Street E Santa Clara St San Jose City Hall E St John St N 5 th Street N 4 th Street 12,634 s.f. (0.29 acres) Land Size 15,020 s.f. Building Size 92' Frontage 5th Street Opportunity Zone Approved
5 318 Seat Main Theater Ideal for live music performances, corporate events, seminars, and conferences 80 Seat Recital Hall Ideal for intimate musical performances, presentations, lectures and panel discussions 180 Seat Banquet Room Ideal for corporate meetings, seminars, private receptions, or and special event. 20 Executive Offices (150 sq. ft sq. ft.) Office spaces are available on both ground floor and second floor
6 SITE San Jose City Hall Dr. Martin Luther King, Jr Library San Jose Museum of Art Fairmont San Jose San Jose State University Adobe Headquarters The Tech Museum of Innovation San Jose Center for Preforming Arts San Jose McEnery Convention Center E St John St N 6 th Street N 5 th Street E Santa Clara St
7 DEVELOPMENT STANDARDS ZONING: LOT SIZE: HEIGHT LIMIT: MINIMUM LOT AREA: MINIMUM SET BACK (FEET) Front: Side (Interior): Side (Corner): Rear (Interior): Rear (Corner): Minimum Driveway Length: A(PD) R4 Zoned Land 12,634 square feet 35 feet (per City of San Jose) 8,000 sq. ft. 20 feet 5 feet 125 feet 20 feet 20 feet 18 feet ZONING PD - PLANNED DEVELOPMENT DISTRICT No building, structure or land shall be used and no building or structure shall be erected, enlarged or structurally altered, or demolished in any planned development district, except in accordance with the provisions set forth in the PD zoning information page. (See link) Click for additional PD zoning information R-M - MULTIPLE RESIDENCE DISTRICT Land is reserved for the construction, use and occupancy of higher density residential development and higher density residential-commercial mixed use development.
8 72 N. 5th Street Qualifies for New Opportunity Zone Program Qualified Opportunity Zones, ( QOZs ), are aimed at spurring investment in specific communities by potentially allowing advantageous tax treatment via deferrals and, potentially, forgiveness of capital gains taxes. The subject property located at 72 N. 5th Street, San Jose, California is currently situated in one of these Qualified Opportunity Zones. Benefits of Investing in Opportunity Zones: Deferred Capital Gains Step-up gain exclusion basis Permanent exclusion form taxable income of capital gains if held for 10 years or more There are over 8,700 Opportunity Zones in every U.S. state and territory. Opportunity Zones, which are nominated by governors and certified by the U.S. Department of the Treasury. Incentives for investors for putting capital to work in these communities include deferred gain, a step-up gain exclusion basis and a permanent exclusion from taxable income of capital gains in a qualified opportunity zone fund if the investment is held for at least ten years. Deferred Gain The Opportunity Zone Program provides a temporary tax deferral for capital gains reinvested in an Opportunity Fund (an investment vehicle that invests a minimum of 90% of its capital in an Opportunity Zone). The deferred gain must be recognized either on the date the Opportunity Zone investment is sold or December 31, 2026, whichever occurs first. The basis of the original investment is increased by 10% if held by the taxpayer for at least 5 years and by an additional 5% if held for at least 7 years, excluding up to 15% of the original gain from taxation. Gain Exclusion What sets the Opportunity Zone Program apart from other investments and more typical tax deferral strategies is that it allows investors to realize tax-free appreciation on their Opportunity Zone investment. An investor may elect to increase the tax basis of their investment to fair market value on the date of disposition if the investment is held for a minimum of ten years, eliminating any taxable gain. Conclusion The Opportunity Zone Program provides significant advantages for investors who want to defer gain from a recent sale and obtain tax-free appreciation from its investment in an Opportunity Zone, sponsors who want to form and operate an Opportunity Fund, property owners with assets located in Opportunity Zones and business owners that desire to expand or start-up in an Opportunity Zone. To view a map of all Opportunity Zones in the U.S. currently, Here is link to the map.
9 N 6 th Street N 5 th Street
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