Retail Storefront
For Sale
$2,000,000
28 1st Street #27, San Jose, CA 95113
For sale storefront retail suite sized for flexible neighborhood-oriented use.
Property Size2,860 SF
Price / SF$699.30
Days on Market68
Property Features for 28 1st Street #27
General Information
Standard status
Active
Size
2,860 SF
Property subtype
Commercial
Amenities
Central air
Carpet Flooring
Elevator/Lift
Off-Site Parking
Wall Furnace Heating
Window/Wall Unit Cooling
Building Details
Year Built
1900
Listing Agency:
KLEE REAL ESTATE & PROPERTY MANAGEMENT
(408) 260-2726
Listed By:
KATY LEE · License #01184945
Source:
Corcoran
Added: Jun 2
Changed: Aug 8
Last Checked: Jun 4 at 1:48AM
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 KLEE REAL ESTATE & PROPERTY MANAGEMENT
Investment Insights
Based on property information with market context.
This offering is a retail storefront suite configured as a single commercial unit. The property type is categorized for retail use and includes a dedicated storefront presentation intended for customer-facing operations. The total property size is 2,860 square feet.
The property is located at 28 1st Street #27 in San Jose, California 95113. As a storefront suite, it is suited to businesses that benefit from direct public visibility associated with retail frontage.
With 2,860 square feet of retail space, the unit can be appropriate for a range of storefront concepts that require a defined commercial space and retail-ready layout. For buyers evaluating owner-occupancy or investment use, the key consideration will be how the existing storefront configuration supports the intended tenant’s branding and customer experience.
The property is located at 28 1st Street #27 in San Jose, California 95113. As a storefront suite, it is suited to businesses that benefit from direct public visibility associated with retail frontage.
With 2,860 square feet of retail space, the unit can be appropriate for a range of storefront concepts that require a defined commercial space and retail-ready layout. For buyers evaluating owner-occupancy or investment use, the key consideration will be how the existing storefront configuration supports the intended tenant’s branding and customer experience.
Key Highlights
- Year built: 1900
- Storefront retail suite sized for flexible, neighborhood‑oriented use
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
$77,253
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
3.86%
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%
$1,545,060
$1.5M
Cap Rate 7%
$1,103,614
$1.1M
Cap Rate 9%
$858,367
$858.4K
Market Conditions
NOI Build-Up for 2,860 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
$115.7K $40.44/SF
− Vacancy
−$5.3K −$1.85/SF
EGI
$110.4K $38.59/SF
− OpEx
−$33.1K −$11.58/SF
NOI
$77.3K $27.01/SF
Area
San Jose, CA
Vacancy
4.58%
Lease Rate
$40.44 /SF/Yr
Expense Ratio
30.00%
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%
$1,545,060
Cap Rate 7%
$1,103,614
Cap Rate 9%
$858,367
Alternative Uses
Best Use
Retail
$1.10M
$965.7K – $1.29M
NOI $77,253 @ 7.0% cap · market cap 3.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.73M
$1.51M – $2.02M
NOI $120,907 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,277
Businesses Nearby
191k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 59%
Hotels & Casinos 19%
Groceries 11%
Shops & Services 10%
The Old Spaghetti Factory
Dining
56,533 visits/mo
0.1 miles
Jack in the Box
Dining
22,860 visits/mo
0.5 miles
San Jose Marriott
Hotels & Casinos
21,448 visits/mo
0.4 miles
Grocery Outlet Bargain Market
Groceries
21,340 visits/mo
0.4 miles
Hyatt Place
Hotels & Casinos
11,717 visits/mo
0.4 miles
Demographics for 95113, CA
2,658
Population
1,850
Households
1.4
Avg Household Size
35
Median Age
67%
College-Educated
88%
High-School Grad
0.3 sq mi
ZIP Area
8,860
Density / Sq Mi
$140,938
Median Household Income
$101,706
Median Earnings
$2,914
Median Rent
$953,100
Median Home Value
Market
Vacancy Rate% for Retail in San Jose, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - For sale storefront retail suite sized for flexible neighborhood-oriented use.
Where is this storefront property located?
The property is located at 28 1st Street #27 San Jose, CA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Year built: 1900; Storefront retail suite sized for flexible, neighborhood‑oriented use
