Industrial Redevelopment
For Sale
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1194 Lick Avenue, San Jose, CA 95110
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 Market138
Property Features for 1194 Lick Avenue
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Industrial
Zoning
Mixed-Use Neighborhood (MUN)
Investment Type
Owner/User
Additional Details
Multifamily Units
9
Building Details
Year Built
1920
Listing Agency:
Marcus & Millichap - Palo Alto
Listed By:
Yuri Sergunin, CCIM · License #01908322
(650) 391-1764
Source:
Crexi
Added: Jun 1
Changed: Oct 15
Last Checked: Oct 16 at 8:20AM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,285
Cap Rate
5.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,945,700
$1.9M
Cap Rate 7%
$1,389,786
$1.4M
Cap Rate 9%
$1,080,944
$1.1M
Market Conditions
NOI Build-Up for 4,800 SF
Gross rent
$123.8K $25.80/SF
− Vacancy
−$9.4K −$1.96/SF
EGI
$114.5K $23.84/SF
− OpEx
−$17.2K −$3.58/SF
NOI
$97.3K $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 Rate 5%
$1,945,700
Cap Rate 7%
$1,389,786
Cap Rate 9%
$1,080,944
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 authorities.
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Open Analytics
Current Use
Lease Details
9
Residential units
Location Intelligence
Trade Area within ½ mile
1,164
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 95110, CA
20,495
Population
7,568
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
81%
High-School Grad
4.6 sq mi
ZIP Area
4,455
Density / Sq Mi
$132,800
Median Household Income
$60,241
Median Earnings
$2,629
Median Rent
$947,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in West region
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Frequently Asked Questions
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
