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    3060 1St St San Jose, CA 95134

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    For Sale
    Contact for pricing

    265,000 SF Class A Office Portfolio

    Property size:
    265,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional investment opportunity presents a portfolio sale of two Class A office buildings totaling approximately 265,000 square feet, situated on a substantial 9.4-acre site in San Jose, California. The property, known as The Campus at First, is strategically located within the prestigious Golden Triangle, offering unparalleled access to amenities and transportation. The portfolio comprises two distinct buildings: a six-story structure encompassing approximately 119,870 square feet and a three-story building with approximately 145,184 square feet. Both buildings boast flexible floor plans, strategically placed restroom cores, and window mullions designed for maximum adaptability to diverse business needs. Currently vacant, this presents a unique chance for redevelopment or immediate occupancy. The property's prime location offers exceptional visibility and convenient access to public transportation, being directly across from the VTA station. This Class A office campus represents a significant investment opportunity in a thriving market. The buildings are currently vacant, providing a blank canvas for a new owner to tailor the space to their specific requirements. The substantial land area offers significant potential for future expansion or redevelopment. This is a rare opportunity to acquire a substantial, high-quality office property in a highly desirable location. The property's size, location, and flexible design make it an ideal candidate for a variety of uses.

    Property Features for 3060 1St St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    265,000 SF
    Class
    A

    Building Details

    Buildings
    2

    HighLights

    • Class A office campus totaling approximately 265,000 square feet.
    • Located in San Jose's prestigious Golden Triangle.
    • Situated on a 9.4‑acre site.
    • Directly across from the VTA light rail station.
    Property Profile Location Intelligence

    Current Use by Public Records

    Colliers International Corporate Office

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.9338894
    Latitude
    37.3967404

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    FAQs

    What type of property is this?
    Office Property / Space - 265,000 SF Class A Office Portfolio
    Where is this office property / space located?
    The property is located at 3060 1St St San Jose, CA.
    What are key features of this property?
    This property features: Class A office campus totaling approximately 265,000 square feet.; Located in San Jose's prestigious Golden Triangle.; Situated on a 9.4-acre site.
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    3060 1St St San Jose, CA 95134
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