Retail Space with Transit
For Sale
Contact for pricing
667 North First Street, San Jose, CA 95112
Positioned near major freeways, public transportation, restaurants, businesses, and local amenities.
Property Size2,297 SF
Price / SF$957.77
Days on Market8
Property Features for 667 North First Street
General Information
Standard status
Active
Size
2,297 SF
Total Parking Spaces
5
Property subtype
Retail
Listing Agency:
Intero Commercial
Listed By:
Ravi Jagtiani · License #CA 02044082
(669) 226-7416
Source:
Crexi
Added: Aug 27
Changed: Sep 2
Last Checked: Sep 2 at 1:12PM
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 Intero Commercial
Investment Insights
Based on property information with market context.
This retail-space property is described as a preschool building and is offered at 667 North First Street in San Jose. The listing identifies the property within the North San Jose area and presents it as a real estate sale opportunity.
The site is located near Downtown San Jose, major freeways, and public transportation. Surrounding context includes restaurants, businesses, and local amenities, providing access to a broad range of nearby services and commercial activity.
The site is located near Downtown San Jose, major freeways, and public transportation. Surrounding context includes restaurants, businesses, and local amenities, providing access to a broad range of nearby services and commercial activity.
Key Highlights
- Retail‑space property described as a preschool building
- Located at 667 North First Street, San Jose, CA 95112
- Situated in the North San Jose area
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
$62,045
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
2.82%
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%
$1,240,900
$1.2M
Cap Rate 7%
$886,357
$886.4K
Cap Rate 9%
$689,389
$689.4K
Market Conditions
NOI Build-Up for 2,297 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
$92.9K $40.44/SF
− Vacancy
−$4.3K −$1.85/SF
EGI
$88.6K $38.59/SF
− OpEx
−$26.6K −$11.58/SF
NOI
$62.0K $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%
$1,240,900
Cap Rate 7%
$886,357
Cap Rate 9%
$689,389
Alternative Uses
Best Use
Retail
$886.4K
$775.6K – $1.03M
NOI $62,045 @ 7.0% cap · market cap 2.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.39M
$1.21M – $1.62M
NOI $97,106 @ 7.0% cap · market cap 4.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,847
Businesses Nearby
61k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 26%
Groceries 18%
IHOP
Dining
12,189 visits/mo
0.1 miles
Nijiya Market
Groceries
11,124 visits/mo
0.4 miles
ARCO
Shops & Services
8,499 visits/mo
0.3 miles
Wienerschnitzel
Dining
7,128 visits/mo
0.3 miles
Fosters Freeze
Dining
5,857 visits/mo
0.3 miles
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 Retail in San Jose, CA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Positioned near major freeways, public transportation, restaurants, businesses, and local amenities.
Where is this retail space located?
The property is located at 667 North First Street San Jose, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Retail‑space property described as a preschool building; Located at 667 North First Street, San Jose, CA 95112; Situated in the North San Jose area
