Campbell Medical/Office Investment
For Sale
Contact for pricing
481 Carlyn Ave, Campbell, CA 95008
Fully leased medical/office building with strong income and prime location.
Property Size9,306 SF
Lot Size0.37 Acres
Price / SF$376.10
Days on Market175
Property Features for 481 Carlyn Ave
General Information
Standard status
Active
Size
9,306 SF
Lot size
0.37 Acres
Property subtype
Office
Zoning
P-D (Planned Development) / GC (General Commercial)
Building Details
Year Built
1986
Listing Agency:
Coldwell Banker Commercial Westbay Real Estate Group
Listed By:
Andrew Peceimer · License #00993289
Source:
Crexi
Added: Feb 20
Changed: Aug 8
Last Checked: Aug 13 at 5:09AM
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 Coldwell Banker Commercial Westbay Real Estate Group
Investment Insights
Based on property information with market context.
This commercial property presents an investment opportunity with stable, long-term tenants, ensuring a steady income stream. The property has an attractive cap rate in a high-demand commercial area. The building, constructed in 1986, has a size of approximately 9,306 square feet, which includes storage space and common areas, and is situated on a lot of approximately 16,040 square feet. It is currently fully leased to medical and office tenants. The property provides 33 surface parking spots. The cap rate as of April 1, 2026, is projected to be 7.22%, with an average cap rate of 7.68% over the next 5 years. Zoned P-D (Planned Development) / GC (General Commercial), the property benefits from strong foot traffic and a professional clientele due to its medical and office use. The location offers quick freeway access to Highway 17/880 and 280. It is located near Westfield Valley Fair, Santana Row, and Pruneyard Shopping Center. Public transportation is accessible, with the Hamilton Tram Stop 1.1 miles away and a 5-minute drive to Winchester Transit Station. There is a possibility for owner occupancy.
Key Highlights
- High average cap rate of 7.68% projected over the next 5 years, indicating strong investment potential.
- Fully leased to stable medical and office tenants, ensuring a steady and reliable income stream.
- Prime location with quick freeway access to Highway 17/880/280 and proximity to major shopping centers.
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
$174,476
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
4.99%
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%
$3,489,520
$3.5M
Cap Rate 7%
$2,492,514
$2.5M
Cap Rate 9%
$1,938,622
$1.9M
Market Conditions
NOI Build-Up for 9,306 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
$312.7K $33.60/SF
− Vacancy
−$21.9K −$2.35/SF
EGI
$290.8K $31.25/SF
− OpEx
−$116.3K −$12.50/SF
NOI
$174.5K $18.75/SF
Area
Santa Clara County, CA
Vacancy
7.00%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
40.00%
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%
$3,489,520
Cap Rate 7%
$2,492,514
Cap Rate 9%
$1,938,622
Alternative Uses
Best Use
Office B
$4.68M
$4.09M – $5.46M
NOI $327,377 @ 7.0% cap · market cap 9.35%
Second Best
Healthcare Medical
$2.49M
$2.18M – $2.91M
NOI $174,476 @ 7.0% cap · market cap 4.99%
Theoretical Best
Office A
$5.62M
$4.92M – $6.55M
NOI $393,272 @ 7.0% cap · market cap 11.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,070
Businesses Nearby
Explore this area
Business Placement
Demographics for 95008, CA
49,038
Population
20,013
Households
2.5
Avg Household Size
39
Median Age
59%
College-Educated
93%
High-School Grad
6.5 sq mi
ZIP Area
7,544
Density / Sq Mi
$142,841
Median Household Income
$84,022
Median Earnings
$2,694
Median Rent
$1,578,800
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Fully leased medical/office building with strong income and prime location.
Where is this office building located?
The property is located at 481 Carlyn Ave Campbell, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: High average cap rate of 7.68% projected over the next 5 years, indicating strong investment potential.; Fully leased to stable medical and office tenants, ensuring a steady and reliable income stream.; Prime location with quick freeway access to Highway 17/880/280 and proximity to major shopping centers.
