San Jose Live/Work
For Sale
Contact for pricing
Pending
3630 San Felipe Rd, San Jose, CA 95135
Versatile commercial property with live/work permit in San Jose.
Property Size1,822 SF
Lot Size0.39 Acres
Days on Market196
Property Features for 3630 San Felipe Rd
General Information
Standard status
Pending
Size
1,822 SF
Lot size
0.39 Acres
Property subtype
Mixed Use, Office, Retail
Zoning
CG
Listed By:
Edie Brodsky · License #02198347
Source:
Crexi
Added: Feb 4
Changed: Aug 14
Last Checked: Aug 18 at 10:17AM
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 Edie Brodsky
Investment Insights
Based on property information with market context.
This property offers a rare live/work opportunity in the San Jose Evergreen area. The property, zoned for general commercial use, includes 1,800+ square feet of space on a 17,000+ square foot lot. A live/work permit is already in place. Currently operating as a beauty salon, the property was originally built as a residence and may be converted back to residential use if desired. Significant upgrades were completed in 2007, including the foundation, plumbing, and drywall. The layout features two bedrooms/offices, two bathrooms, a full kitchen, and a large open work area. Ample ADA-accessible parking is available. Located on San Felipe Road, the property offers high visibility. This versatile asset is suitable for owner-users or investors. The property delivers versatility, visibility, and upside in one of San Jose’s established Evergreen corridors. It can be used to operate a business, create a live/work environment, invest in a flexible commercial asset, or convert back to residential use.
Key Highlights
- Rare live/work opportunity with existing permit in San Jose Evergreen area.
- High‑visibility location on San Felipe Road with ample ADA‑accessible parking.
- Expansive 17,000+ SQ FT lot with 1,800+ SQ FT general commercial‑zoned building.
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
$64,096
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
3.21%
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%
$1,281,920
$1.3M
Cap Rate 7%
$915,657
$915.7K
Cap Rate 9%
$712,178
$712.2K
Market Conditions
NOI Build-Up for 1,822 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
$102.1K $56.04/SF
− Vacancy
−$16.6K −$9.13/SF
EGI
$85.5K $46.91/SF
− OpEx
−$21.4K −$11.73/SF
NOI
$64.1K $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%
$1,281,920
Cap Rate 7%
$915,657
Cap Rate 9%
$712,178
Alternative Uses
Best Use
Office B
$915.7K
$801.2K – $1.07M
NOI $64,096 @ 7.0% cap · market cap 3.21%
Second Best
Mixed Use
$538.8K
$471.4K – $628.6K
NOI $37,715 @ 7.0% cap · market cap 1.89%
Theoretical Best
Office A
$1.10M
$962.8K – $1.28M
NOI $77,025 @ 7.0% cap · market cap 3.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
669
Businesses Nearby
Explore this area
Business Placement
Demographics for 95135, CA
20,734
Population
7,835
Households
2.6
Avg Household Size
48
Median Age
65%
College-Educated
95%
High-School Grad
129.4 sq mi
ZIP Area
160
Density / Sq Mi
$196,179
Median Household Income
$109,173
Median Earnings
$3,501
Median Rent
$1,458,800
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?
Mixed-use property - Versatile commercial property with live/work permit in San Jose.
Where is this mixed-use property located?
The property is located at 3630 San Felipe Rd San Jose, CA.
What is the asking price?
The asking price for this property is $1,999,000.
What are key features of this property?
This property features: Rare live/work opportunity with existing permit in San Jose Evergreen area.; High‑visibility location on San Felipe Road with ample ADA‑accessible parking.; Expansive 17,000+ SQ FT lot with 1,800+ SQ FT general commercial‑zoned building.
