Industrial Condo Near San Jose
For Sale
$1,599,000
2216 Ringwood Avenue, San Jose, CA 95131
Industrial condo with office space, near San Jose International Airport.
Property Size3,196 SF
Price / SF$500.31
Days on Market431
Property Features for 2216 Ringwood Avenue
General Information
Standard status
Active
Size
3,196 SF
Building Details
Year Built
2004
Listing Agency:
INTERO REAL ESTATE SERVICES
Listed By:
CARLOS PADILLA
Source:
Corcoran
Added: Jun 19, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 INTERO REAL ESTATE SERVICES
Investment Insights
Based on property information with market context.
This vacant industrial condo, built in 2004, offers approximately 3,196 square feet of space, blending warehouse and office functionalities across two stories. The property features an approximate 24-foot ceiling height and a grade-level roll-up door. Located in North San Jose's Venture Commerce Center, it provides convenient access to I-880, US-101, and Montague Expressway, and is situated just 3.5 miles (a 10-minute drive) from San Jose International Airport (SJC). The property is zoned IP (Industrial Park) and has an L-Shape construction style. HOA dues are $423 per month. This professionally maintained condo is suitable for owner-users or investors, with potential SBA financing available (buyer to verify).
Key Highlights
- Vacant Industrial Condo: Ready for immediate occupancy.
- Strategic Location: Just 3.5 miles from San Jose International Airport (SJC) with easy access to I‑880, US‑101, and Montague Expressway.
- Functional Warehouse/Office Blend: A versatile space for various activities.
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
$112,432
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
7.03%
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%
$2,248,640
$2.2M
Cap Rate 7%
$1,606,171
$1.6M
Cap Rate 9%
$1,249,244
$1.2M
Market Conditions
NOI Build-Up for 3,196 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
$179.1K $56.04/SF
− Vacancy
−$29.2K −$9.13/SF
EGI
$149.9K $46.91/SF
− OpEx
−$37.5K −$11.73/SF
NOI
$112.4K $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%
$2,248,640
Cap Rate 7%
$1,606,171
Cap Rate 9%
$1,249,244
Alternative Uses
Best Use
Office B
$1.61M
$1.41M – $1.87M
NOI $112,432 @ 7.0% cap · market cap 7.03%
Second Best
Warehouse
$925.4K
$809.7K – $1.08M
NOI $64,776 @ 7.0% cap · market cap 4.05%
Theoretical Best
Office A
$1.93M
$1.69M – $2.25M
NOI $135,111 @ 7.0% cap · market cap 8.45%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,722
Businesses Nearby
Well-served
Demand for This Use
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
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial condo with office space, near San Jose International Airport.
Where is this warehouse located?
The property is located at 2216 Ringwood Avenue San Jose, CA.
What is the asking price?
The asking price for this property is $1,599,000.
What are key features of this property?
This property features: Vacant Industrial Condo: Ready for immediate occupancy.; Strategic Location: Just 3.5 miles from San Jose International Airport (SJC) with easy access to I‑880, US‑101, and Montague Expressway.; Functional Warehouse/Office Blend: A versatile space for various activities.
