San Jose Industrial Warehouse For
For Sale
$2,499,000
1148 E San Antonio Street, San Jose, CA 95116
Industrial warehouse in San Jose, suitable for investors or owner-users.
Property Size9,751 SF
Price / SF$256.28
Days on Market251
Property Features for 1148 E San Antonio Street
General Information
Standard status
Active
Size
9,751 SF
Property subtype
Commercial
Building Details
Year Built
1956
Listing Agency:
Compass
(650) 274-5227
Listed By:
Bryan Danforth · License #01789680
(714) 497-3550
Source:
Sevengables
Added: Dec 16, 2025
Changed: Aug 23
Last Checked: Aug 24 at 6:44AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
Investment Insights
Based on property information with market context.
This industrial warehouse is available for sale to investors or owner-users. The property features a 9,751 square foot building. According to county records, the building size is 7,210 square feet; however, this does not include the second floor. Renovations were completed in 2012, including a new roof and updated electrical systems. The primary tenant occupies over 80% of the building and has less than one year remaining on their lease, which allows owner-occupiers to earn income while planning or permitting use improvements. Two smaller tenants are currently on month-to-month leases.
Key Highlights
- Opportunity for owner‑occupiers to acquire the property with potential income from existing tenants during planning/permitting.
- Significant portion (80%+) of the building's lease is expiring within a year.
- Building size of 9,751 sf (larger than county records indicate).**
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
$197,630
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
7.91%
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%
$3,952,600
$4.0M
Cap Rate 7%
$2,823,286
$2.8M
Cap Rate 9%
$2,195,889
$2.2M
Market Conditions
NOI Build-Up for 9,751 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
$251.6K $25.80/SF
− Vacancy
−$19.1K −$1.96/SF
EGI
$232.5K $23.84/SF
− OpEx
−$34.9K −$3.58/SF
NOI
$197.6K $20.27/SF
Area
San Jose, CA
Vacancy
7.58%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
15.00%
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%
$3,952,600
Cap Rate 7%
$2,823,286
Cap Rate 9%
$2,195,889
Alternative Uses
Best Use
Warehouse
$2.82M
$2.47M – $3.29M
NOI $197,630 @ 7.0% cap · market cap 7.91%
Second Best
Industrial
$2.33M
$2.03M – $2.71M
NOI $162,754 @ 7.0% cap · market cap 6.51%
Theoretical Best
Office A
$5.89M
$5.15M – $6.87M
NOI $412,225 @ 7.0% cap · market cap 16.50%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,011
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95116, CA
51,222
Population
13,987
Households
3.7
Avg Household Size
35
Median Age
21%
College-Educated
71%
High-School Grad
3.6 sq mi
ZIP Area
14,228
Density / Sq Mi
$83,428
Median Household Income
$41,992
Median Earnings
$2,049
Median Rent
$842,700
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?
Warehouse - Industrial warehouse in San Jose, suitable for investors or owner-users.
Where is this warehouse located?
The property is located at 1148 E San Antonio Street San Jose, CA.
What is the asking price?
The asking price for this property is $2,499,000.
What are key features of this property?
This property features: Opportunity for owner‑occupiers to acquire the property with potential income from existing tenants during planning/permitting.; Significant portion (80%+) of the building's lease is expiring within a year.; Building size of 9,751 sf (larger than county records indicate).**
