Two-Unit Medical Office
2039 Forest Ave 301, San Jose, CA 95128
For Sale
$749,000
Top-floor professional office configured for clinical use with reception, exam rooms, private offices, and patient-support areas.
Property Size2,054 SF
Price / SF$364.65
Days on Market49
Property Features for 2039 Forest Ave 301
General Information
Standard status
Size
Site & Location
Neighborhood
Highway Access
Additional Details
Floor
HOA Fee
Office Units
Building Details
Year Built
Buildings
Stories
Owner Occupied
Listing Agency:
Real Estate 38
Listed By:
Zaid Hanna
(408) 461-9008
Source:
Homeisv
Added: Sep 22
Changed: Oct 25
Last Checked: Nov 8 at 9:20AM
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 Real Estate 38
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Investment Insights
Based on property information with market context.
Located at 2039 Forest Avenue in San Jose, this offering combines two condominium office units on the third and top floor. Unit 301 contains 1,002 square feet and Unit 302 contains 1,052 square feet, providing a combined 2,054 square feet of office space. The suites are configured to operate together as one practice environment.
The existing layout includes a lobby, waiting area, reception area, four exam rooms, two private offices, a utility room, kitchen, storage, and two bathrooms, including one with a shower. The sale includes APNs 274-60-009 and 274-60-010. The property is near O'Connor Hospital, Santana Row, Valley Fair, and major highways, with possession available at close of escrow.
The existing layout includes a lobby, waiting area, reception area, four exam rooms, two private offices, a utility room, kitchen, storage, and two bathrooms, including one with a shower. The sale includes APNs 274-60-009 and 274-60-010. The property is near O'Connor Hospital, Santana Row, Valley Fair, and major highways, with possession available at close of escrow.
Key Highlights
- Combined 2,054 square feet across two condominium office units
- Unit 301 includes 1,002 square feet; Unit 302 includes 1,052 square feet
- Clinical layout with 4 exam rooms, 2 offices, reception, lobby, and waiting area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,384
Cap Rate
4.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$687,680
$687.7K
Cap Rate 7%
$491,200
$491.2K
Cap Rate 9%
$382,044
$382.0K
Market Conditions
NOI Build-Up for 2,054 SF
Gross rent
$61.6K $30.00/SF
− Vacancy
−$4.3K −$2.10/SF
EGI
$57.3K $27.90/SF
− OpEx
−$22.9K −$11.16/SF
NOI
$34.4K $16.74/SF
Area
San Jose, CA
Vacancy
7.00%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$687,680
Cap Rate 7%
$491,200
Cap Rate 9%
$382,044
Alternative Uses
Best Use
Office B
$1.03M
$903.2K – $1.20M
NOI $72,258 @ 7.0% cap · market cap 9.65%
Second Best
Healthcare Medical
$491.2K
$429.8K – $573.1K
NOI $34,384 @ 7.0% cap · market cap 4.59%
Theoretical Best
Office A
$1.24M
$1.09M – $1.45M
NOI $86,833 @ 7.0% cap · market cap 11.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
2
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,997
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 95128, CA
34,776
Population
15,193
Households
2.3
Avg Household Size
38
Median Age
52%
College-Educated
90%
High-School Grad
3.9 sq mi
ZIP Area
8,917
Density / Sq Mi
$122,647
Median Household Income
$71,504
Median Earnings
$2,505
Median Rent
$1,214,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Medical Office Space in San Jose, CA
Properties on Market for Medical Office Space in San Jose
Vacancy Rate% for Office in San Jose, CA
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Top-floor professional office configured for clinical use with reception, exam rooms, private offices, and patient-support areas.
Where is this medical office space located?
The property is located at 2039 Forest Ave 301 San Jose, CA.
What is the asking price?
The asking price for this property is $749,000.
What are key features of this property?
This property features: Combined 2,054 square feet across two condominium office units; Unit 301 includes 1,002 square feet; Unit 302 includes 1,052 square feet; Clinical layout with 4 exam rooms, 2 offices, reception, lobby, and waiting area
