Mixed-Use Property Near Diridon
32 Race Street, San Jose, CA 95126
Mixed-use property with retail, apartments, and a single-family home.
Property size:
6,244 SFPrice / SF:
$461/SF- Added:
- Jun 19, 2025
- Days on Market:
- 349
- Last Refresh:
- Mar 16 at 9:09 am
Property Features for 32 Race Street
General Information
- Standard status
- Active
- Size
- 6,244 SF
Building Details
- Year Built
- 1951
Listing agent FREDA WANG
Listing office INTERO REAL ESTATE SERVICES
Listing date Jun 19, 2025
Source Corcoran
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
HighLights
- Located in Midtown San Jose West Urban Development Project (Google Project)
- Minutes walk to Diridon Train Station (Transportation Hub)
- Mixed‑use property with commercial space and residential units
- Proximity to major highways (880, 280, 87, and 101)
- Fully rented with long‑term commercial tenant
- Includes both commercial/retail space and a single‑family home
Overview
This mixed-use property is located in Midtown San Jose within the West Urban Development Project. The property is a short walk from Diridon Train Station, SAP Center, restaurants, Whole Foods Market, Safeway, Santana Row, and major tech companies, with convenient access to Highways 880, 280, 87, and 101. The property consists of two buildings. The front building features approximately 2500 square feet of commercial/retail space on the ground level, with three apartments above, each approximately 750 square feet. A single-family home of approximately 1500 square feet is situated at the back of the lot. The property is fully rented with a long-term commercial tenant.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $252.5k | $40.44 |
| − Vacancy | −$11.6k | −$1.85 |
| EGI | $240.9k | $38.59 |
| − OpEx | −$72.3k | −$11.58 |
| NOI | $168.7k | $27.01 |
6,244 SF · lease $40.44/SF/yr · vacancy 4.58% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.41M
$2.11M – $2.81M
NOI $168,660 @ 7.0% cap · market cap 5.86%
Second Best
Apartment 5plus
$1.86M
$1.62M – $2.16M
NOI $129,875 @ 7.0% cap · market cap 4.51%
Theoretical Best
Office A
$3.77M
$3.30M – $4.40M
NOI $263,966 @ 7.0% cap · market cap 9.17%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Victory Submission Strength
Gym & Fitness Center
Location Insight
- Map
- Local Demand
- City
- San Jose
- County
- Santa Clara
- State
- California
- Longitude
- -121.911
- Latitude
- 37.3308
Nearby Similar for Sale
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with retail, apartments, and a single-family home.
Where is this mixed-use property located?
The property is located at 32 Race Street San Jose, CA.
What is the asking price?
The asking price for this property is $2,880,000.
What are key features of this property?
This property features: Located in Midtown San Jose West Urban Development Project (Google Project); Minutes walk to Diridon Train Station (Transportation Hub); Mixed‑use property with commercial space and residential units
