Freestanding Retail
For Sale
Contact for pricing
1845 Story Rd, San Jose, CA 95122
C1-Retail zoning, monument signage, and a signalized intersection define the property’s commercial setting.
Property Size4,982 SF
Price / SF$541.95
Days on Market154
Property Features for 1845 Story Rd
General Information
Standard status
Active
Size
4,982 SF
Total Parking Spaces
22
Property subtype
Retail
Zoning
C1-Retail
Lease Type
NNN
Net Operating Income
$152,400
Building Details
Year Renovated
2007
Listing Agency:
TRI Commercial Real Estate Services
(408) 483-7750
Listed By:
Josh Gispan · License #CA 00974978
Source:
Crexi
Added: Apr 1
Changed: Aug 30
Last Checked: Aug 30 at 8:27PM
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 TRI Commercial Real Estate Services
Investment Insights
Based on property information with market context.
This freestanding retail building occupies a 20,925-square-foot lot totaling .48 acres and was renovated in 2007. The property includes a paved parking area with 22 spaces, including 1 ADA space with an access ramp, along with monument signage. C1-Retail zoning supports the site’s retail-oriented configuration.
Bargain King Discount Store occupies the building under a long-term tenancy. The lease expiration date is December 31, 2027, and the lease includes no option to renew. The property is positioned at a signalized intersection on Story Road in San Jose, California.
Bargain King Discount Store occupies the building under a long-term tenancy. The lease expiration date is December 31, 2027, and the lease includes no option to renew. The property is positioned at a signalized intersection on Story Road in San Jose, California.
Key Highlights
- 20,925‑square‑foot lot totaling .48 acres
- C1‑Retail zoning at a signalized intersection
- Bargain King Discount Store long‑term tenancy
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
$134,571
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
4.98%
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%
$2,691,420
$2.7M
Cap Rate 7%
$1,922,443
$1.9M
Cap Rate 9%
$1,495,233
$1.5M
Market Conditions
NOI Build-Up for 4,982 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
$201.5K $40.44/SF
− Vacancy
−$9.2K −$1.85/SF
EGI
$192.2K $38.59/SF
− OpEx
−$57.7K −$11.58/SF
NOI
$134.6K $27.01/SF
Area
ZIP 95122
Vacancy
4.58%
Lease Rate
$40.44 /SF/Yr
Expense Ratio
30.00%
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%
$2,691,420
Cap Rate 7%
$1,922,443
Cap Rate 9%
$1,495,233
Alternative Uses
Best Use
Retail
$1.92M
$1.68M – $2.24M
NOI $134,571 @ 7.0% cap · market cap 4.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.01M
$2.63M – $3.51M
NOI $210,540 @ 7.0% cap · market cap 7.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
863
Businesses Nearby
389k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 25%
Superstores 23%
Shops & Services 23%
Groceries 19%
Target
Superstores
90,288 visits/mo
0.2 miles
Cardenas Market
Groceries
46,188 visits/mo
0.2 miles
Smart & Final
Groceries
29,218 visits/mo
0.3 miles
Jack in the Box
Dining
26,540 visits/mo
0.2 miles
Starbucks
Dining
20,792 visits/mo
0.3 miles
Demographics for 95122, CA
54,056
Population
12,560
Households
4.3
Avg Household Size
36
Median Age
18%
College-Educated
65%
High-School Grad
4.8 sq mi
ZIP Area
11,262
Density / Sq Mi
$103,406
Median Household Income
$41,704
Median Earnings
$2,424
Median Rent
$838,900
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?
Storefront property - C1-Retail zoning, monument signage, and a signalized intersection define the property’s commercial setting.
Where is this storefront property located?
The property is located at 1845 Story Rd San Jose, CA.
What is the asking price?
The asking price for this property is $2,700,000.
What are key features of this property?
This property features: 20,925‑square‑foot lot totaling .48 acres; C1‑Retail zoning at a signalized intersection; Bargain King Discount Store long‑term tenancy
