Warehouse with Mezzanine and
For Sale
$1,349,000
1777 Smith Avenue, San Jose, CA 95112
Functional warehouse with two roll-up doors, mezzanine space, offices, and off-street parking in a convenient South Bay location.
Property Size4,191 SF
Price / SF$321.88
Days on Market86
Property Features for 1777 Smith Avenue
General Information
Standard status
Active
Size
4,191 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Drive-In Doors
2
Amenities
Assigned Spaces
Central Forced Air Heating
Concrete Flooring
Gas Heating
Off Street Parking
Rolled Composition Roof
Wall Furnace Heating
Building Details
Year Built
1959
Listing Agency:
DAVID LYNG REAL ESTATE
(831) 429-5700
Listed By:
DANIEL ALVAREZ · License #01237892
Source:
Corcoran
Added: May 28
Changed: Aug 16
Last Checked: Aug 21 at 7:29AM
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 DAVID LYNG REAL ESTATE
Investment Insights
Based on property information with market context.
This offering includes a warehouse configuration with over 4,000 square feet of warehouse space supported by two roll-up doors. Interior improvements include three offices, two bathrooms, and a mezzanine level, providing additional flexibility for storage or operational support. The owner is currently in the process of vacating, making the space more straightforward for a buyer or investor looking to take over quickly. Off-street parking is available, and the property has previously been used as a distributorship for Wurlitzers.
The location is positioned close to major access points, including the freeway, San Jose State University, downtown San Jose, and the airport, placing it within reach of the broader Silicon Valley business market. That combination of connectivity and central access can be attractive for users that need a practical logistics and work location.
With its roll-up door access, office build-out, and mezzanine, the property may fit a range of light industrial, warehousing, or distribution-oriented operators. It also offers possibilities for specialized uses such as paint or garage storage, depending on the buyer’s intended operation. For buyers seeking a functional, adaptable space with parking and room to support day-to-day work, this is a compelling option.
The location is positioned close to major access points, including the freeway, San Jose State University, downtown San Jose, and the airport, placing it within reach of the broader Silicon Valley business market. That combination of connectivity and central access can be attractive for users that need a practical logistics and work location.
With its roll-up door access, office build-out, and mezzanine, the property may fit a range of light industrial, warehousing, or distribution-oriented operators. It also offers possibilities for specialized uses such as paint or garage storage, depending on the buyer’s intended operation. For buyers seeking a functional, adaptable space with parking and room to support day-to-day work, this is a compelling option.
Key Highlights
- Approximately 4,000+ SF warehouse space with 2 roll‑up doors
- Mezzanine space plus 3 offices and 2 bathrooms
- Year built: 1959
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$84,942
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.30%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,698,840
$1.7M
Cap Rate 7%
$1,213,457
$1.2M
Cap Rate 9%
$943,800
$943.8K
Market Conditions
NOI Build-Up for 4,191 SF
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.
Gross rent
$108.1K $25.80/SF
− Vacancy
−$8.2K −$1.96/SF
EGI
$99.9K $23.84/SF
− OpEx
−$15.0K −$3.58/SF
NOI
$84.9K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,698,840
Cap Rate 7%
$1,213,457
Cap Rate 9%
$943,800
Alternative Uses
Best Use
Warehouse
$1.21M
$1.06M – $1.42M
NOI $84,942 @ 7.0% cap · market cap 6.30%
Second Best
Flex RnD
$1.11M
$975.4K – $1.30M
NOI $78,030 @ 7.0% cap · market cap 5.78%
Theoretical Best
Office A
$2.53M
$2.21M – $2.95M
NOI $177,175 @ 7.0% cap · market cap 13.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,347
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95112, CA
60,754
Population
22,969
Households
2.6
Avg Household Size
33
Median Age
39%
College-Educated
82%
High-School Grad
7.3 sq mi
ZIP Area
8,322
Density / Sq Mi
$89,649
Median Household Income
$45,690
Median Earnings
$2,095
Median Rent
$956,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Public Storage — 475 Tully Rd, San Jose, CA 95111
- Off-Site Records Management, LLC — 1959 Monterey Rd, San Jose, CA 95112
- Little Orchard Self Storage — 1833 Little Orchard St, San Jose, CA 95125
- Public Storage — 150 Tully Rd, San Jose, CA 95111
- Near2Me Self Storage Units — 1833 Little Orchard St, San Jose, CA 95125
Frequently Asked Questions
What type of property is this?
Warehouse - Functional warehouse with two roll-up doors, mezzanine space, offices, and off-street parking in a convenient South Bay location.
Where is this warehouse located?
The property is located at 1777 Smith Avenue San Jose, CA.
What is the asking price?
The asking price for this property is $1,349,000.
What are key features of this property?
This property features: Approximately 4,000+ SF warehouse space with 2 roll‑up doors; Mezzanine space plus 3 offices and 2 bathrooms; Year built: 1959
