Corner Retail Units with Glass
For Sale
Contact for pricing
909 Story Road, San Jose, CA 95122
Fully built-out units offer high-end finishes and support office, retail, and restaurant uses.
Property Size2,647 SF
Price / SF$1,133
Days on Market14
Property Features for 909 Story Road
General Information
Standard status
Active
Size
2,647 SF
Property subtype
RETAIL
Site & Location
Corner Location
Yes
Highway Access
Yes
Utilities to Site
Yes
Listing Agency:
CBRE | San Jose
(925) 640-2151
Listed By:
Joey McSweeney · License #01404853
(925) 640-2151
Source:
Moodyscre
Added: Jul 28
Changed: Jul 31
Last Checked: Aug 10 at 6:00AM
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 CBRE | San Jose
Investment Insights
Based on property information with market context.
Newly available adjacent retail units at Vietnam Town feature corner positioning, glass frontage, and high-end finishes. The units are fully built out and may be combined for up to ±2,647 SF, with 16’ clear height, 400 amps at 120/208v three-phase power, including 200 amps per unit, and a gas line. Work is permitted through the City of San Jose, supporting a streamlined occupancy process for buyers.
The property includes an onsite parking garage with over 500 stalls and is situated within The Shops at Vietnam Town, which includes over 200 businesses. The location offers access to Highway 280 and Highway 101. Supported uses include office, retail, and restaurants, providing flexibility for a range of commercial occupiers.
The property includes an onsite parking garage with over 500 stalls and is situated within The Shops at Vietnam Town, which includes over 200 businesses. The location offers access to Highway 280 and Highway 101. Supported uses include office, retail, and restaurants, providing flexibility for a range of commercial occupiers.
Key Highlights
- Adjacent corner retail units with glass frontage and high‑end finishes
- Units can be combined for up to ±2,647 SF
- 16’ clear height with 400 amps at 120/208v three‑phase power
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
$93,119
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
3.10%
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%
$1,862,380
$1.9M
Cap Rate 7%
$1,330,271
$1.3M
Cap Rate 9%
$1,034,656
$1.0M
Market Conditions
NOI Build-Up for 2,647 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
$148.3K $56.04/SF
− Vacancy
−$24.2K −$9.13/SF
EGI
$124.2K $46.91/SF
− OpEx
−$31.0K −$11.73/SF
NOI
$93.1K $35.18/SF
Area
ZIP 95122
Vacancy
16.30%
Lease Rate
$56.04 /SF/Yr
Expense Ratio
25.00%
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%
$1,862,380
Cap Rate 7%
$1,330,271
Cap Rate 9%
$1,034,656
Alternative Uses
Best Use
Office B
$1.33M
$1.16M – $1.55M
NOI $93,119 @ 7.0% cap · market cap 3.10%
Second Best
Specialty Retail
$1.09M
$957.6K – $1.28M
NOI $76,607 @ 7.0% cap · market cap 2.55%
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,862 @ 7.0% cap · market cap 3.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
960
Businesses Nearby
Explore this area
Business Placement
Demographics for 95122, CA
54,056
Population
12,560
Households
4.3
Avg Household Size
36
Median Age
18%
College-Educated
65%
High-School Grad
4.8 sq mi
ZIP Area
11,262
Density / Sq Mi
$103,406
Median Household Income
$41,704
Median Earnings
$2,424
Median Rent
$838,900
Median Home Value
Market
Vacancy Rate% for Office in San Jose, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Fully built-out units offer high-end finishes and support office, retail, and restaurant uses.
Where is this retail space located?
The property is located at 909 Story Road San Jose, CA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Adjacent corner retail units with glass frontage and high‑end finishes; Units can be combined for up to ±2,647 SF; 16’ clear height with 400 amps at 120/208v three‑phase power
