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    1869 Concourse Dr San Jose, CA 95131

    Sponsored
    For Lease
    $2 SF/Yr ($767 /Mo)

    Modern San Jose flex space for lease.

    Lot size:
    3,351 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    403
    This exceptional 3,351 square foot commercial property, located at 1869 Concourse Drive in San Jose, California, presents a unique opportunity for a single tenant. Situated in Santa Clara County, zip code 95131, this versatile space is ideal for businesses seeking a blend of executive office and flex space. The property boasts a generous 21-foot ceiling height, providing ample room for various configurations and maximizing potential. Classified as Retail, Office, and Industrial, this building offers significant flexibility for a wide range of commercial uses. The property is currently entirely vacant, allowing for complete customization to suit specific business needs. Parking is readily available, with a ratio of 3.6 spaces per 1,000 square feet. The convenient San Jose location offers easy access to major transportation routes and a thriving business community. This single-tenant occupancy ensures privacy and control over the entire space. Don't miss this chance to secure a prime commercial property in a desirable location. Contact us today to schedule a viewing.

    Property Features for 1869 Concourse Dr

    General Information

    Property type
    Flex space
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    3,351 SF
    Total Rate
    767.94

    Unit(s) available at that property

    Space
    Available Space
    Size
    3,351 SF
    Rate per SF
    $2

    We can help!

    Listing Contact
    Yuan Chang
    Yuan Chang

    Learn more

    Property Insight Report

    HighLights

    • Located in the Venture Commerce Center, North San Jose.
    • 3,351 square foot Industrial/R&D Condo.
    • Features a 3.6:1,000 parking ratio.
    • Excellent freeway access.
    • Offers a unique owner‑user opportunity with 50% office space (including lobby, conference room, and three private offices) and 50% warehouse space (21‑foot clear height, grade‑level door).
    • Includes ADA‑compliant restroom, kitchen, and sprinkler system.
    Property Profile Location Intelligence

    Current Use by Public Records

    Titan Pro Inc Advertising Agency

    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
    -121.8972829
    Latitude
    37.3972462

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    FAQs

    What type of property is this?
    Flex space - Modern San Jose flex space for lease.
    Where is this flex space located?
    The property is located at 1869 Concourse Dr San Jose, CA.
    What is the lease rate?
    The lease rate is $2 SF/Yr.
    What are key features of this property?
    This property features: Located in the Venture Commerce Center, North San Jose.; 3,351 square foot Industrial/R&D Condo.; Features a 3.6:1,000 parking ratio.
    Request Owner's contact information
    1869 Concourse Dr San Jose, CA 95131
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    San Jose, CA 95131
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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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    1869 Concourse Dr San Jose, CA 95131
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    We can help!
    Listing Contact
    Yuan Chang
    Yuan Chang
    Real Estate License ID: 01352021
    Learn more
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