Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2535 N 1St St San Jose, CA 95131

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $1.55 SF/Yr ($8,044 /Mo)

    Adaptable office space in a prime location near amenities.

    Property size:
    62,280 SF
    Lot size:
    14.21 Acres

    Property Features for 2535 N 1St St

    General Information

    Size
    62,280 SF
    Lot size
    14.21 Acres

    We can help!

    Listing Contact
    Grant Zamudio
    Grant Zamudio
    Source: Moodyscre

    Listing Agent: Grant Zamudio

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

    Learn more

    Overview

    Premium Office Space Available

    This office space is located in a four-building project. Specifically, the available space is located at 2535 North 1st Street, Building 3, and measures 62,280 square feet. The location offers convenient access to multiple highways and is adjacent to a light rail station. The property is within walking distance of various amenities and provides proximity to talent. Building and monument signage are available. Contiguous space is available with Buildings 2-4 for a total of 250,056 square feet. Termination option 3/31/2026.
    Location Intelligence

    Current Use by Public Records

    eBay - L2 Building Corporate Office

    Suggested Use

    Restaurant Realty agency Spa & Massage Dental Office Hair Salon Building Supply Nail Salon Pharmacy Auto Repair Shop Gym & Fitness

    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
    -121.9272909
    Latitude
    37.3843912

    Nearby Similar for Lease

    • $1,800 /Mo
      1,184 SF

      Office Condo for Small Business

      1,184 sq ft office condo ideal for small businesses.
      2050 Concourse Dr, San Jose, CA 95131
      View Details
    • New
      $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
    • New
      $6,000 /Mo
      2,000 SF

      San Jose Retail Space Available

      Retail spaces available in prime San Jose location near Vietnam Town.
      1271 Story Rd, San Jose, CA 95122
      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
    • Contact for pricing

      Downtown San Jose Retail Opportunity

      Ground floor retail space in downtown San Jose's SoFA district.
      600 S 1St St, San Jose, CA 95113
      View Details
    • $3 SF/Yr
      2,500 SF

      Downtown San Jose Retail Space

      Retail suites in shell condition at 477 S Market Street.
      477 S Market St, San Jose, CA 95113
      View Details
    • $2 SF/Yr
      16,901 SF

      San Jose Office/R&D Space Available

      16,901 SF office/R&D space available 1/1/2023 in San Jose.
      625-627 River Oaks Pkwy, San Jose, CA 95134
      View Details
    • $47 SF/Yr
      220,872 SF

      Premier San Jose Office Space

      High-end office space with extensive amenities and flexible layouts.
      6001 America Ctr Dr, San Jose, CA
      View Details
    • $2 SF/Yr
      41,448 SF

      Renovated Flex Space Available

      Three buildings with high-end interiors, robust electrical capacity, and amenities.
      281 River Oaks Pkwy, San Jose, CA 95134
      View Details
    • $60 SF/Yr
      2,574 SF

      San Jose Retail Opportunity

      Freestanding building on West San Carlos St, high-traffic corridor.
      1570 W San Carlos St, San Jose, CA 95126
      View Details
    • Contact for pricing
      10,858 SF

      Class A Downtown Office Space

      Premier office space with modern amenities and convenient transportation access.
      303 S Almaden Blvd, San Jose, CA 95110
      View Details
    • $57 SF/Yr
      2,494 SF

      Downtown San Jose Office Space

      Class A office with amenities in downtown San Jose.
      99 Almaden Blvd, San Jose, CA 95113
      View Details

    FAQs

    What type of property is this?
    Office building - Adaptable office space in a prime location near amenities.
    Where is this office building located?
    The property is located at 2535 N 1St St San Jose, CA.
    What is the lease rate?
    The lease rate is $1.55 SF/Yr.
    What are key features of this property?
    This property features: - Adjacent to light rail station; - Building / monument signage available; - Contiguous with Buildings 2-4 for a total of 250,056 SF
    (408) 656-1894
    Request Owner's contact information
    2535 N 1St St San Jose, CA 95131
    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.
    2535 N 1St St
    San Jose, CA 95131
    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
    2535 N 1St St San Jose, CA 95131
    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
    Grant Zamudio
    Grant Zamudio
    (408) 656-1894
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.