Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    515 North 1St St San Jose, CA 95112

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $2 SF/Yr ($950 /Mo)

    Move-in ready office space with on-site parking and transit access.

    Property size:
    5,067 SF
    Lot size:
    5,067 SF

    Property Features for 515 North 1St St

    General Information

    Size
    5,067 SF

    We can help!

    Listing Contact
    Anthony Podesta
    Source: Cbre

    Listing Agent: Anthony Podesta

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Renovated Office Space Available

    This office space, totaling 5067 square feet, features renovated interiors and exteriors, making it ready for immediate occupancy. On-site parking is available. The property benefits from its location near a VTA light rail stop and offers convenient access to highways 880, 87, and 280.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    California Bank & Trust Bank

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Law Firm Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.897791
    Latitude
    37.3454182

    Nearby Similar for Lease

    • $6,000 /Mo
      2,000 SF

      San Jose Retail Space Available

      Retail spaces available in prime San Jose location.
      1271 Story Rd, San Jose, CA 95122
      View Details
    • $3,200 /Mo
      800 SF

      Retail Space in San Jose

      Retail space available for lease in San Jose, California.
      65 Keyes St, San Jose, CA 95112
      View Details
    • $12,000 /Mo
      3,578 SF

      San Jose Commercial Space Available

      Versatile space suitable for office, retail, or restaurant use.
      2268 Senter Rd, San Jose, CA 95112
      View Details
    • $6,900 /Mo
      14,310 SF

      SAN JOSE Warehouse For Lease

      Industrial warehouse space available for lease in San Jose, CA.
      842 S 1St St, San Jose, CA 95110
      View Details
    • Contact for pricing

      CA, San Jose - North San Jose

      Discover many ways to work your way in Lincoln Center
      2880 San Jose Ave, San Jose, CA 95134
      View Details
    • $2,502 /Mo
      1,940 SF

      Newhall Retail Space with Warehouse

      Retail space with warehouse, multiple uses allowed in Newhall.
      24609 Arch St, Newhall, CA 91321
      View Details
    • Contact for pricing

      San Jose Airport

      Flexible workspace in San Jose Airport
      2033 Gateway Pl, San Jose, CA 95110
      View Details
    • Contact for pricing

      Downtown San Jose

      Flexible workspace in Irvine Spectrum
      99 Almaden Blvd, San Jose, CA 95113
      View Details
    • Contact for pricing

      South San Jose

      Flexible workspace in Hamilton Avenue
      6203 San Ignacio Ave, San Jose, CA 95119
      View Details
    • Contact for pricing

      CA, San Jose - Spaces San Jose - Santana Row

      Discover many ways to work your way in AZ, Tempe - Hayden Ferry Lake
      3031 Tisch Way, San Jose, CA 95128
      View Details
    • Sponsored
      Contact for pricing

      CA, San Jose - S 1st St

      Discover many ways to work your way in Highland Pointe
      325 1St St, San Jose, CA 95113
      View Details
    • Contact for pricing

      Spaces 18 S 2nd Street

      Discover many ways to work your way in AZ, Tempe - Hayden Ferry Lake
      18 2Nd St, San Jose, CA 95113
      View Details

    FAQs

    What type of property is this?
    Office units - Move-in ready office space with on-site parking and transit access.
    Where is this office units located?
    The property is located at 515 North 1St St San Jose, CA.
    What is the lease rate?
    The lease rate is $2 SF/Yr.
    What are key features of this property?
    This property features: - Renovated interiors & exteriors; - On-site parking available; - Ready for occupancy
    (408) 646-2778
    Request Owner's contact information
    515 North 1St St San Jose, CA 95112
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    515 North 1St St
    San Jose, CA 95112
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    515 North 1St St San Jose, CA 95112
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Anthony Podesta
    Real Estate License ID: 01467260
    (408) 646-2778
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!