Single-Tenant Medical Office
For Sale
$699,000
200 Jose Figueres AVE, San Jose, CA 95116
Single-tenant audiology suite with four years of lease term remaining near the hospital campus.
Property Size1,695 SF
Price / SF$412.39
Days on Market49
Property Features for 200 Jose Figueres AVE
General Information
Standard status
Active
Size
1,695 SF
Property subtype
Commercial/Industrial
Additional Details
Office Units
1
Building Details
Year Built
2007
Tenancy
Single
Listing Agency:
Starriver Inc
Listed By:
Cindy Liu · License #01458200
(408) 373-1778
Source:
Exitrealty
Added: Jul 29
Changed: Sep 9
Last Checked: Sep 15 at 4:23AM
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 Starriver Inc
Investment Insights
Based on property information with market context.
This single-tenant medical office suite is approximately 1,356 SF and currently occupied by an audiology practice. The practice has been established since 2008, supporting continuity of use for an outpatient setting.
The suite is located on-campus in close proximity to the hospital, within 250 yards based on the CMS campus definition. That adjacency may be particularly relevant for hospital-aligned outpatient needs.
The property includes an in-place lease with four years of lease term remaining. For buyers seeking a small-format medical office investment positioned for ongoing outpatient demand, this suite provides a focused, tenant-specific configuration.
The suite is located on-campus in close proximity to the hospital, within 250 yards based on the CMS campus definition. That adjacency may be particularly relevant for hospital-aligned outpatient needs.
The property includes an in-place lease with four years of lease term remaining. For buyers seeking a small-format medical office investment positioned for ongoing outpatient demand, this suite provides a focused, tenant-specific configuration.
Key Highlights
- Approximately 1,356 SF single‑tenant medical office suite
- Audiology practice with established operations since 2008
- Located within 250 yards of the hospital per CMS campus definition
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
$59,629
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
8.53%
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%
$1,192,580
$1.2M
Cap Rate 7%
$851,843
$851.8K
Cap Rate 9%
$662,544
$662.5K
Market Conditions
NOI Build-Up for 1,695 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
$95.0K $56.04/SF
− Vacancy
−$15.5K −$9.13/SF
EGI
$79.5K $46.91/SF
− OpEx
−$19.9K −$11.73/SF
NOI
$59.6K $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%
$1,192,580
Cap Rate 7%
$851,843
Cap Rate 9%
$662,544
Alternative Uses
Best Use
Office B
$851.8K
$745.4K – $993.8K
NOI $59,629 @ 7.0% cap · market cap 8.53%
Second Best
Healthcare Medical
$405.3K
$354.7K – $472.9K
NOI $28,374 @ 7.0% cap · market cap 4.06%
Theoretical Best
Office A
$1.02M
$895.7K – $1.19M
NOI $71,656 @ 7.0% cap · market cap 10.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
1
Office units
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,886
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95116, CA
51,222
Population
13,987
Households
3.7
Avg Household Size
35
Median Age
21%
College-Educated
71%
High-School Grad
3.6 sq mi
ZIP Area
14,228
Density / Sq Mi
$83,428
Median Household Income
$41,992
Median Earnings
$2,049
Median Rent
$842,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in San Jose, CA
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Single-tenant audiology suite with four years of lease term remaining near the hospital campus.
Where is this medical office space located?
The property is located at 200 Jose Figueres AVE San Jose, CA.
What is the asking price?
The asking price for this property is $699,000.
What are key features of this property?
This property features: Approximately 1,356 SF single‑tenant medical office suite; Audiology practice with established operations since 2008; Located within 250 yards of the hospital per CMS campus definition
