IP-Zoned Office
For Sale
Contact for pricing
2092 Concourse Drive, San Jose, CA 95131
Single-unit commercial property with parking and access to major highways.
Property Size2,304 SF
Price / SF$476
Days on Market82
Property Features for 2092 Concourse Drive
General Information
Standard status
Active
Size
2,304 SF
Class
C
Property subtype
Office
Zoning
IP
Additional Details
Highway Access
Yes
Office Units
1
Building Details
Year Built
1983
Tenancy
Single
Listing Agency:
BellStreet
(650) 282-0477
Listed By:
Amit Urban · License #01998926
Source:
Crexi
Added: Jun 10
Changed: Aug 29
Last Checked: Aug 29 at 5:32PM
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 BellStreet
Investment Insights
Based on property information with market context.
This single-unit office property contains 2,304 SF and was built in 1983. The building carries IP zoning, supporting its classification as an office-oriented commercial asset. Parking is provided, and the property offers visibility within its commercial setting.
Located at 2092 Concourse Drive in San Jose, California, the property provides access to major highways and is positioned near established technology-focused employment areas. The configuration presents a straightforward option for an office user or owner seeking a dedicated commercial building.
Located at 2092 Concourse Drive in San Jose, California, the property provides access to major highways and is positioned near established technology-focused employment areas. The configuration presents a straightforward option for an office user or owner seeking a dedicated commercial building.
Key Highlights
- 2,304 SF office building
- IP zoning
- Built in 1983
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
$81,053
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
7.38%
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%
$1,621,060
$1.6M
Cap Rate 7%
$1,157,900
$1.2M
Cap Rate 9%
$900,589
$900.6K
Market Conditions
NOI Build-Up for 2,304 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
$129.1K $56.04/SF
− Vacancy
−$21.0K −$9.13/SF
EGI
$108.1K $46.91/SF
− OpEx
−$27.0K −$11.73/SF
NOI
$81.1K $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%
$1,621,060
Cap Rate 7%
$1,157,900
Cap Rate 9%
$900,589
Alternative Uses
Best Use
Office B
$1.16M
$1.01M – $1.35M
NOI $81,053 @ 7.0% cap · market cap 7.38%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.22M – $1.62M
NOI $97,402 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Office units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,401
Businesses Nearby
Explore this area
Business Placement
Demographics for 95131, CA
30,975
Population
10,270
Households
3
Avg Household Size
38
Median Age
57%
College-Educated
88%
High-School Grad
5.8 sq mi
ZIP Area
5,341
Density / Sq Mi
$170,128
Median Household Income
$77,369
Median Earnings
$3,182
Median Rent
$1,134,200
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?
Office building - Single-unit commercial property with parking and access to major highways.
Where is this office building located?
The property is located at 2092 Concourse Drive San Jose, CA.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: 2,304 SF office building; IP zoning; Built in 1983
