Multi-Tenant Strip
New
For Sale
$2,600,000
1854 W San Carlos St, San Jose, CA 95128
Dedicated parking serves a multi-tenant retail configuration in San Jose.
Property Size4,800 SF
Price / SF$541.67
Days on Market2
Property Features for 1854 W San Carlos St
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Shopping Strip
Amenities
Value-Add Multi-Tenant Retail Asset: Immediate income diversification with upside through leasing and rent optimization.
Rare Dedicated Off-Street Parking Lot: Massive competitive advantage for tenants in a dense, heavily trafficked urban corridor.
West San Carlos Urban Village Plan Location: Positioned directly inside a city-backed zoning plan for high-density, mixed-use growth.
Building Details
Building Size
4,800 SF
Year Built
1950
Tenancy
Multi
Listing Agency:
Marcus & Millichap | Palo Alto
(650) 391-1742
Listed By:
Eric Carrillo · License #License(s): CA: 02111809
(650) 391-1742
Source:
Marcusmillichap
Added: Aug 2
Changed: Aug 3
Last Checked: Aug 3 at 2:43AM
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.
Located at 1854 W San Carlos St in San Jose, this 4,800-square-foot strip mall is configured as a multi-tenant retail building. The property includes a dedicated parking lot and was constructed in 1950, providing an established commercial asset with an existing retail layout.
The offering is structured on a fee simple basis and is being conveyed free and clear of existing financing. The property is offered in its present condition, with the sale proceeding on an “as-is, where-is” basis.
The offering is structured on a fee simple basis and is being conveyed free and clear of existing financing. The property is offered in its present condition, with the sale proceeding on an “as-is, where-is” basis.
Key Highlights
- 4,800‑square‑foot multi‑tenant retail building
- Dedicated parking lot included
- Built in 1950
Financial Insights For Retail
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 | $194.1k | $40.44 |
| − Vacancy | −$8.9k | −$1.85 |
| EGI | $185.2k | $38.59 |
| − OpEx | −$55.6k | −$11.58 |
| NOI | $129.7k | $27.01 |
4,800 SF · lease $40.44/SF/yr · vacancy 4.58% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.85M
$1.62M – $2.16M
NOI $129,655 @ 7.0% cap · market cap 4.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.90M
$2.54M – $3.38M
NOI $202,921 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,832
Businesses Nearby
146k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 39%
Apparel 21%
Dining 20%
Groceries 20%
Dollar Tree
Shops & Services
21,345 visits/mo
0.3 miles
Zanotto's Family Market
Groceries
20,663 visits/mo
0.4 miles
Jack in the Box
Dining
15,488 visits/mo
0.4 miles
Shell
Shops & Services
15,283 visits/mo
0.5 miles
Crossroads Trading Co.
Apparel
14,103 visits/mo
0.2 miles
Demographics for 95128, CA
34,776
Population
15,193
Households
2.3
Avg Household Size
38
Median Age
52%
College-Educated
90%
High-School Grad
3.9 sq mi
ZIP Area
8,917
Density / Sq Mi
$122,647
Median Household Income
$71,504
Median Earnings
$2,505
Median Rent
$1,214,500
Median Home Value
Market
Vacancy Rate% for Retail in San Jose, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Strip mall - Dedicated parking serves a multi-tenant retail configuration in San Jose.
Where is this strip mall located?
The property is located at 1854 W San Carlos St San Jose, CA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 4,800‑square‑foot multi‑tenant retail building; Dedicated parking lot included; Built in 1950
