Prime Silicon Valley location, flexible office solutions.
Lot size:
44,957 SF
Description
Added:
Dec 11, 2024
Days on Market:
402
This Class A office building, totaling 44,957 square feet, offers a variety of flexible workspace solutions in the heart of Silicon Valley, adjacent to San Jose International Airport. The property, renovated in 2019, features 350 suites, with a minimum divisible space of 10 square feet and a maximum contiguous space of 1,300 square feet. Currently, 5,970 square feet are vacant. The building boasts convenient access to major highways (87, 101, I-280, I-680, and I-880), placing it within 50 minutes of downtown San Francisco. Amenities include a well-appointed reception area, furnished offices, four meeting rooms, a training room, videoconferencing studios, free parking, two delis, an on-site swimming pool, showers, and an attractive outdoor waterfall seating area. Nearby conveniences include several small retail centers, a Safeway, and a Bank of America. A range of office options are available, from private, fully furnished offices for individuals or large companies to custom spaces and day offices. The building also offers a benefits program with exclusive discounts and procurement support. The property is located at 2033 Gateway Place, 5th and 6th Floors, San Jose, CA 95110, in Santa Clara County. Elevators are available.
Property Features for 2033 Floors
General Information
Property type
Office space
Lease Type
Gross Lease
RSF (Rentable sq. ft)
44,957 SF
Class
A
Total Rate
83620.02
Building Details
Year Renovated
2019
Unit(s) available at that property
Space
Big Block
Size
1,536 SF
Rate per SF
$150
Space
Private office for 2 people
Size
540 SF
Rate per SF
$75
Space
Private office for 5 people
Size
540 SF
Rate per SF
$60
Space
Flexible workspace
Size
110 SF
Rate per SF
$22
Space
Private office for 3 people
Size
540 SF
Rate per SF
$60
Space
Virtual office in San Jose Airport
Size
10 SF
Rate per SF
$282
Space
Flexible workspace with dedicated
Size
110 SF
Rate per SF
$27
Space
Coworking space
Size
320 SF
Rate per SF
$36
Space
Large office
Size
750 SF
Rate per SF
$75
Space
Private office for 1 person
Size
540 SF
Rate per SF
$64
Space
Extra-large office
Size
1,300 SF
Rate per SF
$58
Space
Private office for 4 people
Size
540 SF
Rate per SF
$60
HighLights
44,957 square foot Class A office building in Silicon Valley, adjacent to San Jose International Airport.
2019 renovated building with 350 suites, offering spaces from 10 to 1,300 contiguous square feet; 5,970 square feet currently vacant.
Convenient access to major freeways (Hwys 87, 101, I‑280, I‑680, and I‑880), within 50 minutes of downtown San Francisco.
Amenities include a reception area, furnished offices, meeting rooms, training room, videoconferencing studios, free parking, two delis, a swimming pool, showers, and an outdoor seating area. Located at 2033 Gateway Place, 5th and 6th Floors, San Jose, CA 95110.
Offers various office options: private furnished offices, custom spaces, and day offices; includes a benefits program with discounts and procurement support.
Office space - Prime Silicon Valley location, flexible office solutions.
Where is this office space located?
The property is located at 2033 Floors San Jose, CA.
What is the lease rate?
The lease rate is $22-$282 SF/Yr.
What are key features of this property?
This property features: 44,957 square foot Class A office building in Silicon Valley, adjacent to San Jose International Airport.; 2019 renovated building with 350 suites, offering spaces from 10 to 1,300 contiguous square feet; 5,970 square feet currently vacant.; Convenient access to major freeways (Hwys 87, 101, I-280, I-680, and I-880), within 50 minutes of downtown San Francisco.
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2033 Floors San Jose, CA 95110
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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
2033 Floors San Jose, CA 95110
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2033 Floors, San Jose, CA
North & South Carolina 1 Regus US
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North & South Carolina 1 Regus US
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