Versatile Freestanding Industrial
For Sale
Contact for pricing
1941 Las Plumas Ave, San Jose, CA 95133
Adaptable industrial warehouse in North San Jose with redevelopment potential.
Property Size10,260 SF
Lot Size0.51 Acres
Price / SF$417.15
Days on Market175
Property Features for 1941 Las Plumas Ave
General Information
Standard status
Active
Size
10,260 SF
Class
C
Lot size
0.51 Acres
Property subtype
Industrial, Office
Zoning
L1
Building Details
Year Built
1984
Buildings
1
Stories
1
Units
2
Listing Agency:
Compass Menlo Park
Listed By:
Betty Shen · License #CA 02018191
Source:
Crexi
Added: Feb 20
Changed: Aug 8
Last Checked: Aug 13 at 1:15PM
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 Compass Menlo Park
Investment Insights
Based on property information with market context.
This freestanding industrial warehouse in North San Jose offers a versatile space suitable for various uses, including warehouse, office, church, or storage facility. The property features two units, totaling 10,260 square feet with 17-foot ceilings, and is equipped with fire sprinklers and alarms. Situated on a 22,460-square-foot lot, the property provides ample space for parking, loading, and yard use, with potential for future redevelopment. The dual-unit design allows for flexible use, such as occupying one unit and leasing the other for rental income, or combining both units into a single, larger space. One unit is currently vacant. The other unit has been used as a church for over 10 years and will be vacant on April 19, 2026. The property is located minutes from Freeways 101 and 680, with convenient access to Berryessa Road and North Capitol Expressway. It is also located minutes from the Silicon Valley tech corridor and San Jose International Airport.
Key Highlights
- Freestanding industrial warehouse in high‑demand North San Jose location, minutes from Freeways 101/680, Silicon Valley tech corridor, and San Jose International Airport.
- Versatile property suitable for warehouse, office, church, or storage, with potential for future redevelopment.
- Dual‑unit design (totaling 10,260 sq ft) offers flexibility for owner‑occupancy and rental income, or combined into a single large space.
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
8.43%
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 8.43%
Second Best
Warehouse
$2.97M
$2.60M – $3.47M
NOI $207,947 @ 7.0% cap · market cap 4.86%
Theoretical Best
Office A
$6.20M
$5.42M – $7.23M
NOI $433,743 @ 7.0% cap · market cap 10.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,429
Businesses Nearby
Balanced
Demand for This Use
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?
Warehouse - Adaptable industrial warehouse in North San Jose with redevelopment potential.
Where is this warehouse located?
The property is located at 1941 Las Plumas Ave San Jose, CA.
What is the asking price?
The asking price for this property is $4,280,000.
What are key features of this property?
This property features: Freestanding industrial warehouse in high‑demand North San Jose location, minutes from Freeways 101/680, Silicon Valley tech corridor, and San Jose International Airport.; Versatile property suitable for warehouse, office, church, or storage, with potential for future redevelopment.; Dual‑unit design (totaling 10,260 sq ft) offers flexibility for owner‑occupancy and rental income, or combined into a single large space.
