Ground-Floor Salon with Residential
For Sale
Contact for pricing
641 North 13th Street, San Jose, CA 95112
Occupied ground-floor salon plus two back residential units, including one vacant space ready for immediate lease-up.
Property Size2,170 SF
Price / SF$552.07
Days on Market101
Property Features for 641 North 13th Street
General Information
Standard status
Active
Size
2,170 SF
Property subtype
Retail, Multifamily, Mixed Use
Zoning
MUC Zoning - Uses cases Found Here SJMC 20.55.203
Occupancy
100%
Lease Type
Gross
Investment Type
Value Add
Net Operating Income
$81,600
Additional Details
Business Included
Yes
Multifamily Units
2
Building Details
Year Built
1948
Year Renovated
1960
Buildings
2
Stories
1
Units
3
Tenancy
Multi
Listing Agency:
Colliers - San Francisco - Pleasanton, California
Listed By:
Kashif Husain · License #01950914
(408) 449-2426
Source:
Crexi
Added: May 29
Changed: Aug 16
Last Checked: Sep 5 at 12:13PM
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 Colliers - San Francisco - Pleasanton, California
Investment Insights
Based on property information with market context.
This mixed-use property features an income-producing ground-floor salon that is currently occupied. Behind the salon are two residential units, with one unit occupied and one unit vacant, providing the opportunity for immediate lease-up. The property is configured with three separate addresses: 641, 641A, and 643 N 13th Street, which can support straightforward occupancy and access management.
The building is located within walking distance of San Jose State University, SAP Center, Caltrain, and VTA light rail. With multiple transit options and a nearby employment and entertainment draw, the location can be well suited for both commercial and residential use.
The layout supports a variety of buyers and operators, including an owner-user seeking to combine business and living space, or an investor looking for multi-income potential through a separately addressed salon and two residential units. With one residential unit already vacant, there is a clear path to re-occupy that portion of the property promptly.
The building is located within walking distance of San Jose State University, SAP Center, Caltrain, and VTA light rail. With multiple transit options and a nearby employment and entertainment draw, the location can be well suited for both commercial and residential use.
The layout supports a variety of buyers and operators, including an owner-user seeking to combine business and living space, or an investor looking for multi-income potential through a separately addressed salon and two residential units. With one residential unit already vacant, there is a clear path to re-occupy that portion of the property promptly.
Key Highlights
- 1948 building with an occupied ground‑floor salon producing income
- Back portion includes two residential units: one occupied and one vacant for immediate lease‑up
- Three separate addresses: 641, 641A, and 643 N 13th Street
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
$48,859
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
4.08%
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%
$977,180
$977.2K
Cap Rate 7%
$697,986
$698.0K
Cap Rate 9%
$542,878
$542.9K
Market Conditions
NOI Build-Up for 2,170 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
$72.9K $33.60/SF
− Vacancy
−$3.1K −$1.43/SF
EGI
$69.8K $32.17/SF
− OpEx
−$20.9K −$9.65/SF
NOI
$48.9K $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%
$977,180
Cap Rate 7%
$697,986
Cap Rate 9%
$542,878
Alternative Uses
Best Use
Multifamily LT 5
$698.0K
$610.7K – $814.3K
NOI $48,859 @ 7.0% cap · market cap 4.08%
Second Best
Apartment 5plus
$644.8K
$564.2K – $752.3K
NOI $45,136 @ 7.0% cap · market cap 3.77%
Theoretical Best
Office A
$1.31M
$1.15M – $1.53M
NOI $91,737 @ 7.0% cap · market cap 7.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,229
Businesses Nearby
Explore this area
Business Placement
Demographics for 95112, CA
60,754
Population
22,969
Households
2.6
Avg Household Size
33
Median Age
39%
College-Educated
82%
High-School Grad
7.3 sq mi
ZIP Area
8,322
Density / Sq Mi
$89,649
Median Household Income
$45,690
Median Earnings
$2,095
Median Rent
$956,300
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 - Occupied ground-floor salon plus two back residential units, including one vacant space ready for immediate lease-up.
Where is this duplex located?
The property is located at 641 North 13th Street San Jose, CA.
What is the asking price?
The asking price for this property is $1,198,000.
What are key features of this property?
This property features: 1948 building with an occupied ground‑floor salon producing income; Back portion includes two residential units: one occupied and one vacant for immediate lease‑up; Three separate addresses: 641, 641A, and 643 N 13th Street
