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    959 Story Rd San Jose, CA 95122

    Sponsored
    For Sale
    $658,900

    Prime San Jose retail space, 1,198 sq ft.

    Property size:
    1,198 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    404
    This exceptional 1,198 square foot retail condominium, located within the thriving Vietnam Town shopping center at 959 Story Rd Suite 5270, San Jose, CA 95122, presents a unique investment opportunity. Built in 2017, this property is part of a 17-unit complex and offers a prime location in a rapidly growing neighborhood. The asking price is $658,900, translating to $550 per square foot. Ideal for a variety of uses, including medical, dental, professional offices, or retail businesses, this space boasts a convenient location with easy access to Highways 101, 280, and 680, and proximity to Mineta San Jose International Airport. The unit includes a single completed restroom and 100-amp, 120/208-volt, 3-phase 4-wire power. Potential buyers can explore Small Business Administration (SBA) financing options for up to 90% of the purchase price. A unique Lease-to-Own program is also available, offering a lease rate as low as $2.00 per square foot NNN, with a potential six-month rent abatement, a three-year lease term, and a two-year purchase option. Units can be combined to create larger spaces, with sizes ranging from approximately 558 to 1,583 square feet. This property offers the advantage of ownership over leasing, providing long-term stability, potential for increased rental income, and a greater return on investment. The interior can be customized to meet specific business needs. This is a fantastic opportunity to own your business space in a high-demand location.

    Property Features for 959 Story Rd

    General Information

    Property type
    Lifestyle centers
    Square Feet
    1,198 SF

    Building Details

    Year Built
    2017
    Units
    17

    We can help!

    Listing Contact
    Jeff Vo
    Jeff Vo

    Learn more

    Property Insight Report
    Property Profile Location Intelligence

    Current Use by Public Records

    MH Beauty & Spa Spa

    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
    -121.85880368086
    Latitude
    37.332379748738

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    FAQs

    What type of property is this?
    Lifestyle center - Prime San Jose retail space, 1,198 sq ft.
    Where is this lifestyle center located?
    The property is located at 959 Story Rd San Jose, CA.
    What is the asking price?
    The asking price for this property is $658,900.
    Request Owner's contact information
    959 Story Rd San Jose, CA 95122
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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
    959 Story Rd San Jose, CA 95122
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    We can help!
    Listing Contact
    Jeff Vo
    Jeff Vo
    Real Estate License ID: 1441068
    Learn more
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