Mixed-Use Property Near Diridon
For Sale
$2,880,000
32 Race Street, San Jose, CA 95126
Mixed-use property with retail, apartments, and a single-family home.
Property Size6,244 SF
Price / SF$461.24
Days on Market485
Property Features for 32 Race Street
General Information
Standard status
Active
Size
6,244 SF
Building Details
Year Built
1951
Listing Agency:
INTERO REAL ESTATE SERVICES
Listed By:
FREDA WANG
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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
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.
Key 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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$168,660
Cap Rate
5.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,373,200
$3.4M
Cap Rate 7%
$2,409,429
$2.4M
Cap Rate 9%
$1,874,000
$1.9M
Market Conditions
NOI Build-Up for 6,244 SF
Gross rent
$252.5K $40.44/SF
− Vacancy
−$11.6K −$1.85/SF
EGI
$240.9K $38.59/SF
− OpEx
−$72.3K −$11.58/SF
NOI
$168.7K $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 Rate 5%
$3,373,200
Cap Rate 7%
$2,409,429
Cap Rate 9%
$1,874,000
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 authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,548
Businesses Nearby
93k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 44%
Shops & Services 33%
Dining 19%
Hotels & Casinos 3%
Whole Foods Market
Groceries
41,214 visits/mo
0.3 miles
Shell
Shops & Services
8,152 visits/mo
0.3 miles
Chipotle Mexican Grill
Dining
7,394 visits/mo
0.1 miles
Bank of America
Shops & Services
7,064 visits/mo
0.3 miles
Peet's Coffee & Tea
Dining
6,296 visits/mo
0.1 miles
Demographics for 95126, CA
37,372
Population
16,936
Households
2.2
Avg Household Size
36
Median Age
55%
College-Educated
89%
High-School Grad
3.3 sq mi
ZIP Area
11,325
Density / Sq Mi
$127,297
Median Household Income
$72,722
Median Earnings
$2,544
Median Rent
$1,195,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in San Jose, CA
Frequently Asked Questions
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
