Standalone Retail/Office
For Sale
Contact for pricing
27 Devine St, San Jose, CA 95110
Built in 2007, the building offers three contiguous suites combining retail and office space with attractive street frontage.
Property Size2,900 SF
Price / SF$586.21
Days on Market94
Property Features for 27 Devine St
General Information
Standard status
Active
Size
2,900 SF
Class
A
Property subtype
Retail, Office, Mixed Use
Zoning
Downtown Primary Commercial Zoning
Lease Type
Gross
Investment Type
Owner/User
Additional Details
Opportunity Zone
Yes
Building Details
Year Built
2007
Buildings
1
Units
2
Tenancy
Multi
Listing Agency:
Intero Commercial Los Altos
Listed By:
Carlos Padilla · License #CA 01342889
(650) 947-4746
Source:
Crexi
Added: Jun 5
Changed: Sep 5
Last Checked: Sep 5 at 8:35AM
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 Commercial Los Altos
Investment Insights
Based on property information with market context.
27 Devine St is a standalone commercial building offering approximately 2,900 square feet of combined retail and office space configured as three contiguous suites. Built in 2007, the property is presented with modern construction and attractive street frontage, supporting a flexible occupancy setup for an owner-user, investor, or mixed-use strategy.
Located in the heart of Downtown San Jose, the building is described as highly walkable and within steps of Downtown San Jose dining, entertainment, and transit amenities. The property is also located within an Opportunity Zone.
Offered for sale as a single asset, 27 Devine St presents a straightforward downtown configuration with multiple suites in one location.
Located in the heart of Downtown San Jose, the building is described as highly walkable and within steps of Downtown San Jose dining, entertainment, and transit amenities. The property is also located within an Opportunity Zone.
Offered for sale as a single asset, 27 Devine St presents a straightforward downtown configuration with multiple suites in one location.
Key Highlights
- Built in 2007, standalone commercial building with approximately 2,900 SF of retail and office space
- Three contiguous suites with combined retail and office layout
- Attractive street frontage
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
$102,019
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
6.00%
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%
$2,040,380
$2.0M
Cap Rate 7%
$1,457,414
$1.5M
Cap Rate 9%
$1,133,544
$1.1M
Market Conditions
NOI Build-Up for 2,900 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
$162.5K $56.04/SF
− Vacancy
−$26.5K −$9.13/SF
EGI
$136.0K $46.91/SF
− OpEx
−$34.0K −$11.73/SF
NOI
$102.0K $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%
$2,040,380
Cap Rate 7%
$1,457,414
Cap Rate 9%
$1,133,544
Alternative Uses
Best Use
Office B
$1.46M
$1.28M – $1.70M
NOI $102,019 @ 7.0% cap · market cap 6.00%
Second Best
Retail
$1.12M
$979.2K – $1.31M
NOI $78,333 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,598 @ 7.0% cap · market cap 7.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
5,744
Businesses Nearby
Explore this area
Business Placement
Demographics for 95110, CA
20,495
Population
7,568
Households
2.7
Avg Household Size
35
Median Age
40%
College-Educated
81%
High-School Grad
4.6 sq mi
ZIP Area
4,455
Density / Sq Mi
$132,800
Median Household Income
$60,241
Median Earnings
$2,629
Median Rent
$947,900
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 - Built in 2007, the building offers three contiguous suites combining retail and office space with attractive street frontage.
Where is this office building located?
The property is located at 27 Devine St San Jose, CA.
What is the asking price?
The asking price for this property is $1,700,000.
What are key features of this property?
This property features: Built in 2007, standalone commercial building with approximately 2,900 SF of retail and office space; Three contiguous suites with combined retail and office layout; Attractive street frontage
