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    Industrial Redevelopment Site Title is generated by Realmo AI

    1194 Lick Avenue, San Jose, CA 95110

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    Mixed-use neighborhood zoning offers development flexibility for commercial, residential, or mixed-use projects on this San Jose parcel.

    Type:Industrial
    Property size:
    4,800 SF
    Price / SF:
    $364/SF
    Added:
    Jun 1, 2026
    Days on Market:
    8
    Last Refresh:
    Jun 6 at 4:54 am

    Property Features for 1194 Lick Avenue

    General Information

    Standard status
    Active
    Size
    4,800 SF
    Property subtype
    Industrial

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    Yuri Sergunin, CCIM
    Yuri Sergunin, CCIM

    Listing agent Yuri Sergunin, CCIM License #01908322

    Listing office Marcus & Millichap - Palo Alto

    Listing date Jun 1, 2026

    Source Crexi

    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

    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
    • MUN maximum residential density is 30 dwelling units per acre, supporting a base 9‑unit condominium development
    • Density can round up to 10 units; potential density bonus of up to 100% may increase to 20 units with affordability and eligibility requirements
    • Planned Development (PD) rezoning may offer additional flexibility for higher densities and broader development options

    Overview

    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.

    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 (±1% cap)
    NOI $97,285 @ 7.0% cap · market cap 5.56%
    Second Best
    Industrial
    $1.14M
    $1.00M – $1.34M (±1% cap)
    NOI $80,117 @ 7.0% cap · market cap 4.58%
    Theoretical Best
    Office A
    $2.90M
    $2.54M – $3.38M (±1% cap)
    NOI $202,921 @ 7.0% cap · market cap 11.60%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    West Coast Marble ... Construction Company

    Suggested Use

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

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

    Similar Places Nearby

    • Bay Area Self Storage Bird Ave — 1140 Bird Ave., San Jose, CA 95125
    • Pomona Park Cold Storage — 1649 Pomona Ave, San Jose, CA 95110
    • Little Orchard Self Storage — 1833 Little Orchard St, San Jose, CA 95125
    • Self Storage — 1202 lincoln ave, san jose, ca 95125
    • Near2Me Self Storage Units — 1833 Little Orchard St, San Jose, CA 95125

    Location Insight

    • Map
    • Local Demand
    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.8836167
    Latitude
    37.3142238

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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
    (650) 391-1764 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Yuri Sergunin, CCIM
    Yuri Sergunin, CCIM
    Real Estate License ID: 01908322
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    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.

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