Retail Investment Property with Vacant
For Sale
$1,650,000
410 Santa Clara St, San Jose, CA 95113
Four-unit retail property with development potential in downtown San Jose.
Property Size3,072 SF
Lot Size0.04 Acres
Price / SF$537.11
Days on Market191
Property Features for 410 Santa Clara St
General Information
Standard status
Active
Size
3,072 SF
Lot size
0.04 Acres
Property subtype
Commercial
Amenities
Assigned Spaces
Rolled Composition Roof
Street Parking
Building Details
Year Built
1941
Listing Agency:
COMPASS
(415) 929-7100
Listed By:
KEN WU · License #02131550
Source:
Corcoran
Added: Feb 25
Changed: Sep 2
Last Checked: Sep 4 at 8:23AM
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 COMPASS
Investment Insights
Based on property information with market context.
The property at 410 E Santa Clara St is a four-unit retail investment located in downtown San Jose, two streets from San Jose State University. The location provides street visibility and exposure to pedestrian and vehicle traffic. One of the units will be delivered vacant, offering owner-user potential while generating income from the three remaining tenants. The leases are month-to-month, providing flexibility for repositioning or rent adjustments. Tenants are responsible for their own utilities. The property includes a 1,742 square foot vacant parcel directly behind the building. Zoned Urban Residential, this additional land provides value and future upside potential. With direct rear access to the retail units, it offers functionality for loading, storage, or parking, along with long-term development optionality. The property size is 3,072 square feet.
Key Highlights
- Prime downtown San Jose location near San Jose State University with high traffic and excellent street visibility.
- Includes a 1,742 sq ft vacant parcel zoned Urban Residential, offering significant value and future development potential.
- One retail unit will be delivered vacant, providing immediate owner‑user opportunity.
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
$82,979
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
5.03%
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%
$1,659,580
$1.7M
Cap Rate 7%
$1,185,414
$1.2M
Cap Rate 9%
$921,989
$922.0K
Market Conditions
NOI Build-Up for 3,072 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
$124.2K $40.44/SF
− Vacancy
−$5.7K −$1.85/SF
EGI
$118.5K $38.59/SF
− OpEx
−$35.6K −$11.58/SF
NOI
$83.0K $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%
$1,659,580
Cap Rate 7%
$1,185,414
Cap Rate 9%
$921,989
Alternative Uses
Best Use
Retail
$1.19M
$1.04M – $1.38M
NOI $82,979 @ 7.0% cap · market cap 5.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.86M
$1.62M – $2.16M
NOI $129,869 @ 7.0% cap · market cap 7.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,544
Businesses Nearby
107k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 45%
Shops & Services 32%
Dining 18%
Electronics 5%
Cardenas Market
Groceries
26,807 visits/mo
0.5 miles
Grocery Outlet Bargain Market
Groceries
21,340 visits/mo
0.2 miles
Rotten Robbie
Shops & Services
12,621 visits/mo
0.4 miles
Lee's Sandwiches
Dining
9,918 visits/mo
0.2 miles
7-Eleven
Shops & Services
7,347 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 - Four-unit retail property with development potential in downtown San Jose.
Where is this storefront property located?
The property is located at 410 Santa Clara St San Jose, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Prime downtown San Jose location near San Jose State University with high traffic and excellent street visibility.; Includes a 1,742 sq ft vacant parcel zoned Urban Residential, offering significant value and future development potential.; One retail unit will be delivered vacant, providing immediate owner‑user opportunity.
