Industrial Flex Condo with Grade-Level
For Sale
Contact for pricing
2261 Fortune Dr, San Jose, CA 95131
Industrial condominium with a dedicated grade-level loading door and adjacent amenity area.
Property Size2,365 SF
Price / SF$528.54
Days on Market8
Property Features for 2261 Fortune Dr
General Information
Standard status
Active
Size
2,365 SF
Property subtype
INDUSTRIAL
Additional Details
Drive-In Doors
1
Listing Agency:
Colliers | Silicon Valley
(408) 930-9219
Listed By:
Michael Rosendin, SIOR, CCIM
(408) 930-9219
Source:
Moodyscre
Added: Aug 4
Changed: Aug 9
Last Checked: Aug 10 at 6:11AM
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 Colliers | Silicon Valley
Investment Insights
Based on property information with market context.
This 2,365-square-foot industrial condominium is configured for flexible commercial use and includes one 10' x 12' grade-level door. The property also benefits from an amenity area immediately beside the unit.
Located at 2261 Fortune Dr in North San Jose, the property offers an industrial setting within the San Jose, CA 95131 market.
Located at 2261 Fortune Dr in North San Jose, the property offers an industrial setting within the San Jose, CA 95131 market.
Key Highlights
- 2,365‑square‑foot industrial condominium
- One 10' x 12' grade‑level door
- Amenity area directly adjacent to the property
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
$47,933
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
3.83%
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%
$958,660
$958.7K
Cap Rate 7%
$684,757
$684.8K
Cap Rate 9%
$532,589
$532.6K
Market Conditions
NOI Build-Up for 2,365 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
$61.0K $25.80/SF
− Vacancy
−$4.6K −$1.96/SF
EGI
$56.4K $23.84/SF
− OpEx
−$8.5K −$3.58/SF
NOI
$47.9K $20.27/SF
Area
San Jose, CA
Vacancy
7.58%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
15.00%
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%
$958,660
Cap Rate 7%
$684,757
Cap Rate 9%
$532,589
Alternative Uses
Best Use
Warehouse
$684.8K
$599.2K – $798.9K
NOI $47,933 @ 7.0% cap · market cap 3.83%
Second Best
Flex RnD
$629.0K
$550.4K – $733.9K
NOI $44,033 @ 7.0% cap · market cap 3.52%
Theoretical Best
Office A
$1.43M
$1.25M – $1.67M
NOI $99,981 @ 7.0% cap · market cap 8.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,394
Businesses Nearby
Under-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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- AsK Cuisine Food Truck Catering — 1850 Houret Ct, Milpitas, CA 95035, United States
Frequently Asked Questions
What type of property is this?
Flex space - Industrial condominium with a dedicated grade-level loading door and adjacent amenity area.
Where is this flex space located?
The property is located at 2261 Fortune Dr San Jose, CA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 2,365‑square‑foot industrial condominium; One 10' x 12' grade‑level door; Amenity area directly adjacent to the property
