Flex Space with
For Sale
$2,387,000
615 Stockton AVE, San Jose, CA 95126
Commercial/Industrial, SAN JOSE, CA
Property Size4,400 SF
Lot Size0.37 Acres
Price / SF$542.50
Days on Market68
Property Features for 615 Stockton AVE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CN
Parking
25
Subdivision
Central San Jose
Standard status
Active
Lot size
0.37 Acres
Utilities
Heating system
Forced Air, Central, Natural Gas
Cooling system
Central Air
Water source
Public
Amenities
storefront presence
warehouse-style functionality
dock-high loading
grade-level access
signage exposure
on-site parking
Building Details
Year built
1948
Roof type
Flat
Listing Agency:
Real Brokerage Technologies
(619) 663-8680
Listed By:
Samuel Spinella II · License #01377658
(408) 393-9294
Added: Jun 20
Changed: Aug 25
Last Checked: Aug 26 at 9:06PM
MLS# ML82051761
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This single-story flex building at 615 Stockton AVE includes approximately 4,400 SF on approximately 0.3691 acres. The property combines storefront presence with warehouse-style functionality, dock-high loading, grade-level access, signage exposure, and on-site parking. Built in 1948, the building has a flat roof, public water, natural gas, forced-air and central heating, and central air conditioning. The property is zoned CN.
The building is near Downtown San Jose, Diridon Station, The Alameda, and San Jose International Airport. Its Stockton Avenue setting places storefront and loading functions within the same commercial property.
The building is near Downtown San Jose, Diridon Station, The Alameda, and San Jose International Airport. Its Stockton Avenue setting places storefront and loading functions within the same commercial property.
Key Highlights
- Approximately 4,400 SF single‑story flex building
- Approximately 0.3691 acres at 615 Stockton AVE
- Dock‑high loading and grade‑level access
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$118,851
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.98%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,377,020
$2.4M
Cap Rate 7%
$1,697,871
$1.7M
Cap Rate 9%
$1,320,567
$1.3M
Market Conditions
NOI Build-Up for 4,400 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$177.9K $40.44/SF
− Vacancy
−$8.1K −$1.85/SF
EGI
$169.8K $38.59/SF
− OpEx
−$50.9K −$11.58/SF
NOI
$118.9K $27.01/SF
Area
San Jose, CA
Vacancy
4.58%
Lease Rate
$40.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,377,020
Cap Rate 7%
$1,697,871
Cap Rate 9%
$1,320,567
Alternative Uses
Best Use
Retail
$1.70M
$1.49M – $1.98M
NOI $118,851 @ 7.0% cap · market cap 4.98%
Second Best
Warehouse
$1.27M
$1.11M – $1.49M
NOI $89,178 @ 7.0% cap · market cap 3.74%
Theoretical Best
Office A
$2.66M
$2.33M – $3.10M
NOI $186,011 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,115
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 95126, CA
37,372
Population
16,936
Households
2.2
Avg Household Size
36
Median Age
55%
College-Educated
89%
High-School Grad
3.3 sq mi
ZIP Area
11,325
Density / Sq Mi
$127,297
Median Household Income
$72,722
Median Earnings
$2,544
Median Rent
$1,195,700
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Storefront-oriented commercial building with warehouse functionality, loading access, parking, and CN zoning.
Where is this flex space located?
The property is located at 615 Stockton AVE San Jose, CA.
What is the asking price?
The asking price for this property is $2,387,000.
What are key features of this property?
This property features: Approximately 4,400 SF single‑story flex building; Approximately 0.3691 acres at 615 Stockton AVE; Dock‑high loading and grade‑level access
