Mixed-Use Corner Income
For Sale
$1,300,000
322-324 Willow Street San, San Jose, CA 95110
Two connected parcels offer fully leased units with commercial space on Willow and residential units on Palm.
Property Size3,788 SF
Price / SF$343.19
Days on Market81
Property Features for 322-324 Willow Street San
General Information
Standard status
Active
Size
3,788 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
2
Amenities
Wall Furnace
Public Utilities, Water - Public, Shingle
Building Details
Year Built
1912
Tenancy
Multi
Listing Agency:
Intero Real Estate Services
Listed By:
Peter Trinh
(408) 772-6139
Source:
Kw
Added: Jun 19
Changed: Sep 6
Last Checked: Sep 6 at 6:52PM
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
Investment Insights
Based on property information with market context.
This corner income property includes two addresses, positioned at the intersection of Willow St and Palm St. The offering is described as fully leased, with owners maintaining the property. One building at 322–324 Willow St houses four tenants in commercial use.
The second building at 1002–1004 Palm St includes two residential units. The remarks note proximity to a bus stop and a nearby church.
Per the public information, 322–324 Willow St is described as approximately 2,402 square feet and 1002–1004 Palm St is described as approximately 1,386 square feet.
The second building at 1002–1004 Palm St includes two residential units. The remarks note proximity to a bus stop and a nearby church.
Per the public information, 322–324 Willow St is described as approximately 2,402 square feet and 1002–1004 Palm St is described as approximately 1,386 square feet.
Key Highlights
- Two connected parcels with fully leased units: commercial on Willow St and residential on Palm St
- 322‑324 Willow St: 4 tenants with approx. 2,402 SF, commercial use
- 1002‑1004 Palm St: 2 tenants with approx. 1,386 SF, residential units
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
$85,289
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
6.56%
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%
$1,705,780
$1.7M
Cap Rate 7%
$1,218,414
$1.2M
Cap Rate 9%
$947,656
$947.7K
Market Conditions
NOI Build-Up for 3,788 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
$127.3K $33.60/SF
− Vacancy
−$5.4K −$1.43/SF
EGI
$121.8K $32.17/SF
− OpEx
−$36.6K −$9.65/SF
NOI
$85.3K $22.52/SF
Area
San Jose, CA
Vacancy
4.27%
Lease Rate
$33.60 /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%
$1,705,780
Cap Rate 7%
$1,218,414
Cap Rate 9%
$947,656
Alternative Uses
Best Use
Multifamily LT 5
$1.22M
$1.07M – $1.42M
NOI $85,289 @ 7.0% cap · market cap 6.56%
Second Best
Apartment 5plus
$1.13M
$984.9K – $1.31M
NOI $78,790 @ 7.0% cap · market cap 6.06%
Theoretical Best
Office A
$2.29M
$2.00M – $2.67M
NOI $160,138 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,165
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two connected parcels offer fully leased units with commercial space on Willow and residential units on Palm.
Where is this duplex located?
The property is located at 322-324 Willow Street San San Jose, CA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Two connected parcels with fully leased units: commercial on Willow St and residential on Palm St; 322‑324 Willow St: 4 tenants with approx. 2,402 SF, commercial use; 1002‑1004 Palm St: 2 tenants with approx. 1,386 SF, residential units
