Industrial Redevelopment
1194 Lick Avenue San Jose, CA 95110
1194 Lick Avenue, San Jose, CA, 95110
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For Sale
Contact for pricing
Mixed-use neighborhood zoning offers development flexibility for commercial, residential, or mixed-use projects on this San Jose parcel.
Property Size4,800 SF
Price / SF$364.38
Days on Market53
Property Features for 1194 Lick Avenue
General Information
- Standard status
- Active
- Size
- 4,800 SF
- Property subtype
- Industrial
Building Details
- Year Built
- 1920
Listing agency
Marcus & Millichap - Palo Alto
(650) 391-1764
Listed by
Yuri Sergunin, CCIM · License #01908322
Source
Crexi
Added: Jun 1 Updated: Jul 10 at 1:52PM Checked: Jul 22 at 10:40AM
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 Marcus & Millichap - Palo Alto
Investment Insights
Based on property information with market context.
The property at 1194 Lick Avenue is zoned Mixed-Use Neighborhood (MUN), supporting a range of development options including 100% commercial, 100% residential, or mixed-use development. The parcel is approximately 14,127 square feet, and the property size is listed as 4,800 square feet. Under the MUN zoning density framework described for this site, the base allowable residential density supports a 9-unit condominium development, with density rounded up to 10 units under California’s State Density Bonus Law as outlined in the remarks.
The MUN district also references potential eligibility for a density bonus of up to 100% under AB 2345 and AB 1287, which may increase the total to as many as 20 residential units, subject to meeting affordability requirements and other stated eligibility criteria. The remarks further note that rezoning the property to a Planned Development (PD) district could provide additional flexibility and support higher densities, along with a broader array of development opportunities tailored to project goals.
For buyers and developers evaluating an industrial-type site with zoning-driven residential and commercial paths, this offering centers on MUN entitlement flexibility. The documented density parameters and the potential for bonus density and/or PD rezoning provide a clear framework for assembling a feasible development plan aligned with the buyer’s target unit count and mix.
The MUN district also references potential eligibility for a density bonus of up to 100% under AB 2345 and AB 1287, which may increase the total to as many as 20 residential units, subject to meeting affordability requirements and other stated eligibility criteria. The remarks further note that rezoning the property to a Planned Development (PD) district could provide additional flexibility and support higher densities, along with a broader array of development opportunities tailored to project goals.
For buyers and developers evaluating an industrial-type site with zoning-driven residential and commercial paths, this offering centers on MUN entitlement flexibility. The documented density parameters and the potential for bonus density and/or PD rezoning provide a clear framework for assembling a feasible development plan aligned with the buyer’s target unit count and mix.
Key Highlights
- San Jose parcel at 1194 Lick Avenue (APN 434‑05‑078) with Mixed‑Use Neighborhood (MUN) zoning
- MUN zoning permits 100% commercial, 100% residential, or mixed‑use developments
- Parcel size is approximately 14,127 SF
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $123.8k | $25.80 |
| − Vacancy | −$9.4k | −$1.96 |
| EGI | $114.5k | $23.84 |
| − OpEx | −$17.2k | −$3.58 |
| NOI | $97.3k | $20.27 |
4,800 SF · lease $25.80/SF/yr · vacancy 7.58% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.39M
$1.22M – $1.62M
NOI $97,285 @ 7.0% cap · market cap 5.56%
Second Best
Industrial
$1.14M
$1.00M – $1.34M
NOI $80,117 @ 7.0% cap · market cap 4.58%
Theoretical Best
Office A
$2.90M
$2.54M – $3.38M
NOI $202,921 @ 7.0% cap · market cap 11.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
West Coast Marble ...
Construction Company
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FAQs
What type of property is this?
Warehouse - Mixed-use neighborhood zoning offers development flexibility for commercial, residential, or mixed-use projects on this San Jose parcel.
Where is this warehouse located?
The property is located at 1194 Lick Avenue San Jose, CA.
What is the asking price?
The asking price for this property is $1,749,000.
What are key features of this property?
This property features: San Jose parcel at 1194 Lick Avenue (APN 434‑05‑078) with Mixed‑Use Neighborhood (MUN) zoning; MUN zoning permits 100% commercial, 100% residential, or mixed‑use developments; Parcel size is approximately 14,127 SF
