Industrial Building with Live/Work
For Sale
$4,500,000
1931 Las Plumas Avenue, San Jose, CA 95133
Industrial building featuring live/work setup, kitchen, shower, and laundry.
Property Size10,260 SF
Price / SF$438.60
Days on Market172
Property Features for 1931 Las Plumas Avenue
General Information
Standard status
Active
Size
10,260 SF
Property subtype
Commercial
Amenities
Central air
Common Garage
Central Air Cooling
Concrete Flooring
Flat/Low Pitch Roof
Gas Central Forced Air Heat Heating
Tile Flooring
Wheelchair Access
Building Details
Year Built
1984
Listing Agency:
INFINITI REAL ESTATE
(408) 667-3013
Listed By:
DANNY DUONG · License #1400892
Source:
Corcoran
Added: Feb 23
Changed: Aug 14
Last Checked: Aug 14 at 6:01AM
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 INFINITI REAL ESTATE
Investment Insights
Based on property information with market context.
This industrial building offers a live/work setup, complete with a kitchen, shower, and laundry facilities. The machine shop will be vacated upon the close of escrow. Currently, there is a tenant occupying the space on a month-to-month basis.
Key Highlights
- Live/Work Setup
- Fully Equipped Kitchen
- Shower and Laundry
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
$360,938
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
8.02%
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%
$7,218,760
$7.2M
Cap Rate 7%
$5,156,257
$5.2M
Cap Rate 9%
$4,010,422
$4.0M
Market Conditions
NOI Build-Up for 10,260 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
$575.0K $56.04/SF
− Vacancy
−$93.7K −$9.13/SF
EGI
$481.3K $46.91/SF
− OpEx
−$120.3K −$11.73/SF
NOI
$360.9K $35.18/SF
Area
San Jose, CA
Vacancy
16.30%
Lease Rate
$56.04 /SF/Yr
Expense Ratio
25.00%
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%
$7,218,760
Cap Rate 7%
$5,156,257
Cap Rate 9%
$4,010,422
Alternative Uses
Best Use
Office B
$5.16M
$4.51M – $6.02M
NOI $360,938 @ 7.0% cap · market cap 8.02%
Second Best
Mixed Use
$3.03M
$2.65M – $3.54M
NOI $212,382 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$6.20M
$5.42M – $7.23M
NOI $433,743 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
798
Businesses Nearby
Explore this area
Business Placement
Demographics for 95133, CA
30,080
Population
9,378
Households
3.2
Avg Household Size
37
Median Age
44%
College-Educated
81%
High-School Grad
3.3 sq mi
ZIP Area
9,115
Density / Sq Mi
$132,069
Median Household Income
$57,140
Median Earnings
$2,275
Median Rent
$1,074,300
Median Home Value
Market
Vacancy Rate% for Office in San Jose, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Live-work space - Industrial building featuring live/work setup, kitchen, shower, and laundry.
Where is this live-work space located?
The property is located at 1931 Las Plumas Avenue San Jose, CA.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Live/Work Setup; Fully Equipped Kitchen; Shower and Laundry
