Commercial Condos in Vietnam
959 Story Rd Suite 5165, San Jose, CA 95122
Medical, professional, and retail condos for sale or lease-to-own.
Type:Retail
Property size:
1,210 SFPrice / SF:
$660/SF- Added:
- Mar 15, 2024
- Days on Market:
- 809
- Last Refresh:
- May 12 at 9:53 pm
Property Features for 959 Story Rd Suite 5165
General Information
- Standard status
- Active
- Size
- 1,210 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2017
Listing agent Jeff Vo License #1441068
Listing office GD Commercial Real Estate Inc.
Listing date Mar 15, 2024
Source Crexi
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 GD Commercial Real Estate Inc.
HighLights
- Opportunity to OWN commercial property in a rapidly growing shopping center (Vietnam Town).
- SBA financing available at 90% of the purchase price.
- Lease‑to‑Own program available with locked‑in purchase price and option to buy within two years.
- Convenient access to Highways 101, 280, and 680, and Mineta San Jose International Airport.
- Suitable for a wide range of businesses including medical, professional, and retail.
- Potential for long‑term tenant, low maintenance costs, and strong return on investment.
Overview
Commercial condominiums are available for medical, professional, and retail use within the Vietnam Town shopping center. These newly built properties offer an alternative to leasing, with financing options available through the Small Business Administration (SBA) at 90% of the purchase price. The location is suitable for medical facilities such as clinics, urgent care centers, and healthcare providers, as well as professional offices for optometry, acupuncture, insurance, real estate, finance, legal services, immigration services, cosmetics, and beauty salons. Retail opportunities include branded fashion shops, grocery markets, gift shops, product stores, teashops, food-to-go establishments, and restaurants. A Lease-To-Own Program is available for upstairs units, with lease rates starting at $2.00 per square foot NNN, and six months of free base rent. The lease term is three years, with the purchase price locked in and the option to buy within two years. Building features include approximately 16-foot clear heights. Unit sizes range from approximately 558 to 1,583 square feet, and units can be combined for larger square footage. Each unit includes a completed restroom. Power is supplied with 100 Amps, 120/208 Volt, 3-phase 4-wire. The property provides easy access to Highways 101, 280, and 680, and is located minutes from Mineta San Jose International Airport.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.8k | $56.04 |
| − Vacancy | −$11.1k | −$9.13 |
| EGI | $56.8k | $46.91 |
| − OpEx | −$14.2k | −$11.73 |
| NOI | $42.6k | $35.18 |
1,210 SF · lease $56.04/SF/yr · vacancy 16.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$608.1K
$532.1K – $709.5K
NOI $42,567 @ 7.0% cap · market cap 5.33%
Second Best
Retail
$466.9K
$408.6K – $544.7K
NOI $32,684 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$730.5K
$639.2K – $852.3K
NOI $51,135 @ 7.0% cap · market cap 6.40%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
MH Beauty & Spa
Spa & Massage Center
Location Insight
- Map
- Local Demand
- City
- San Jose
- County
- Santa Clara
- State
- California
- Longitude
- -121.856529
- Latitude
- 37.330864
Nearby Similar for Sale
FAQs
What type of property is this?
Retail space - Medical, professional, and retail condos for sale or lease-to-own.
Where is this retail space located?
The property is located at 959 Story Rd Suite 5165 San Jose, CA.
What is the asking price?
The asking price for this property is $798,600.
What are key features of this property?
This property features: Opportunity to OWN commercial property in a rapidly growing shopping center (Vietnam Town).; SBA financing available at 90% of the purchase price.; Lease‑to‑Own program available with locked‑in purchase price and option to buy within two years.
