Single-Story Flex Space with Dock-High
For Sale
$2,387,000
615 Stockton AVE, San Jose, CA 95126
COMMERCIAL - SAN JOSE, CA
Property Size4,400 SF
Lot Size0.37 Acres
Price / SF$542.50
Days on Market56
Property Features for 615 Stockton AVE
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
CN
Parking
25
Subdivision
Central San Jose
Standard status
Active
Lot size
0.37 Acres
Utilities
Heating system
Central, Forced Air, Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1948
Roof type
Flat
Listing Agency:
Real Brokerage Technologies
(619) 663-8680
Listed By:
Samuel Spinella II · License #01377658
(408) 393-9294
Added: Jun 20
Changed: Aug 13
Last Checked: Aug 14 at 5:06PM
MLS# ML82051761
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
615 Stockton Ave is a single-story flex commercial building with storefront presence and warehouse-style functionality. The property includes approximately 4,400 SF in a 0.3691-acre lot and features dock-high loading and grade-level access, along with signage exposure and on-site parking. Heating is provided by natural gas forced air with central heating, and cooling is offered via central air. The roof is flat, and the building was constructed in 1948.
The site is located on Stockton Avenue near Downtown San Jose, Diridon Station, The Alameda, and San Jose International Airport. Public water service is available.
This property is commonly considered for an owner-user, investment, or redevelopment use, with buyer verification requested for zoning, permitted uses, building square footage, condition, parking, and development potential with the City of San Jose.
The site is located on Stockton Avenue near Downtown San Jose, Diridon Station, The Alameda, and San Jose International Airport. Public water service is available.
This property is commonly considered for an owner-user, investment, or redevelopment use, with buyer verification requested for zoning, permitted uses, building square footage, condition, parking, and development potential with the City of San Jose.
Key Highlights
- Approximately 4,400 SF single‑story flex building with storefront presence
- 0.3691‑acre lot with on‑site parking and signage exposure
- Dock‑high loading plus grade‑level access for flexible operations
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
$89,178
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
3.74%
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%
$1,783,560
$1.8M
Cap Rate 7%
$1,273,971
$1.3M
Cap Rate 9%
$990,867
$990.9K
Market Conditions
NOI Build-Up for 4,400 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
$113.5K $25.80/SF
− Vacancy
−$8.6K −$1.96/SF
EGI
$104.9K $23.84/SF
− OpEx
−$15.7K −$3.58/SF
NOI
$89.2K $20.27/SF
Area
San Jose, CA
Vacancy
7.58%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
15.00%
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%
$1,783,560
Cap Rate 7%
$1,273,971
Cap Rate 9%
$990,867
Alternative Uses
Best Use
Warehouse
$1.27M
$1.11M – $1.49M
NOI $89,178 @ 7.0% cap · market cap 3.74%
Second Best
Flex RnD
$1.17M
$1.02M – $1.37M
NOI $81,921 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$2.66M
$2.33M – $3.10M
NOI $186,011 @ 7.0% cap · market cap 7.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,115
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
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
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Flex space - Zoned CN flex building with dock-high loading, grade-level access, central HVAC, and on-site parking.
Where is this flex space located?
The property is located at 615 Stockton AVE San Jose, CA.
What is the asking price?
The asking price for this property is $2,387,000.
What are key features of this property?
This property features: Approximately 4,400 SF single‑story flex building with storefront presence; 0.3691‑acre lot with on‑site parking and signage exposure; Dock‑high loading plus grade‑level access for flexible operations
