Downtown San Jose Retail/Office
451 South 1st St San Jose, CA
For Sale
Contact for pricing
Retail/office building in downtown San Jose with excellent frontage.
Property Size4,950 SF
Lot Size0.34 Acres
Price / SF$787.88
Days on Market1215
Property Features for 451 South 1st St
General Information
- Standard status
- Active
- Size
- 4,950 SF
- Lot size
- 0.34 Acres
- Property subtype
- OFFICE
Properties For Sale
at 451 South 1st St Contact us
Listing Agency:
Colliers | Silicon Valley
(408) 823-3988
Listed By:
Dave Sandlin, SIOR
(408) 823-3988
Source:
Moodyscre
Added: Mar 27, 2023
Changed: Jul 6
Last Checked: Jul 21 at 4:23AM
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 Colliers | Silicon Valley
Investment Insights
Based on property information with market context.
Located in the SOMA area of Downtown San Jose, this property offers 4,950 square feet of space suitable for retail or office use. The building features frontage on First Street and Market Street, providing excellent signage opportunities. Its location is across from the convention center, with convenient access to Highways 87 and 280. The interiors are open, airy, and designed to foster a creative environment. The building has tall ceilings and a new storefront. It is air-conditioned and has undergone seismic upgrades. The surrounding area includes numerous restaurants and services.
Key Highlights
- Prime location in the SOMA district of Downtown San Jose, near restaurants and services.
- Excellent accessibility with frontage on First and Market Streets and convenient highway access (87, 280).
- Versatile usage: suitable for any retail or office use.
Financial Insights For Office B
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 | $277.4k | $56.04 |
| − Vacancy | −$45.2k | −$9.13 |
| EGI | $232.2k | $46.91 |
| − OpEx | −$58.0k | −$11.73 |
| NOI | $174.1k | $35.18 |
4,950 SF · lease $56.04/SF/yr · vacancy 16.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$2.49M
$2.18M – $2.90M
NOI $174,137 @ 7.0% cap · market cap 4.47%
Second Best
Retail
$1.91M
$1.67M – $2.23M
NOI $133,707 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$2.99M
$2.62M – $3.49M
NOI $209,262 @ 7.0% cap · market cap 5.37%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Office building - Retail/office building in downtown San Jose with excellent frontage.
Where is this office building located?
The property is located at 451 South 1st St San Jose, CA.
What is the asking price?
The asking price for this property is $3,900,000.
What are key features of this property?
This property features: Prime location in the SOMA district of Downtown San Jose, near restaurants and services.; Excellent accessibility with frontage on First and Market Streets and convenient highway access (87, 280).; Versatile usage: suitable for any retail or office use.
