Commercial Condominiums in Vietnam
959 Story Rd Suite 5230, San Jose, CA 95122
Call to check price and availability
Professional and retail commercial condominiums available for purchase.
Type:Retail
Property size:
1,198 SFPrice / SF:
$550/SF- Added:
- May 16, 2024
- Days on Market:
- 785
- Last Refresh:
- Jun 28 at 8:04 pm
Property Features for 959 Story Rd Suite 5230
General Information
- Standard status
- Active
- Size
- 1,198 SF
- Property subtype
- Retail
Listing office GD Commercial Real Estate Inc. (408) 877-9900
Listing date May 16, 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 location with easy access to Highways 101, 280, 680, and the San Jose International Airport.
- Suitable for medical, professional services, and retail businesses.
- Potential for long‑term tenant, low maintenance costs, better rental income, and greater return on investment.
Overview
Commercial condominiums are available in the Vietnam Town shopping center, situated between Walmart and Grand Century Mall. These newly built properties offer an alternative to leasing. The location is suitable for medical, dental, clinic, urgent care, surgery, and healthcare provider facilities, as well as professional and service offices such as optometry, acupuncture, insurance, real estate, finance, legal and law firms, immigration, cosmetics, and beauty salons. Retail tenants may include branded fashion shops, grocery markets, gift shops, product stores, teashops, food to-go, and restaurants. Financing is available through the Small Business Administration (SBA) at 90% of the purchase price. The properties offer long-term tenant potential, low maintenance costs, rental income, and investment returns. The location provides access to Highways 101, 280, and 680, and is near the Mineta San Jose International Airport. A Lease-To-Own Program is available, allowing a Tenant/Buyer to lease until ready to buy, with the purchase price locked in. Upstairs units are available for Lease-to-Own. Units feature a 16-foot clear height (approximate). Sizes range from approximately 558 to 1,583 square feet, with the option to combine units for larger square footage. There are a total of 17 office and 17 retail units. Each unit includes a completed restroom. Power is supplied at 100 Amps, 120/208 Volt, 3-phase 4-wire.
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 | $67.1k | $56.04 |
| − Vacancy | −$10.9k | −$9.13 |
| EGI | $56.2k | $46.91 |
| − OpEx | −$14.0k | −$11.73 |
| NOI | $42.1k | $35.18 |
1,198 SF · lease $56.04/SF/yr · vacancy 16.30% · expense 25.00%
Alternative Uses
Best Use
Office B
$602.1K
$526.8K – $702.4K
NOI $42,145 @ 7.0% cap · market cap 6.40%
Second Best
Retail
$462.3K
$404.5K – $539.3K
NOI $32,360 @ 7.0% cap · market cap 4.91%
Theoretical Best
Office A
$723.3K
$632.9K – $843.8K
NOI $50,628 @ 7.0% cap · market cap 7.68%
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 - Professional and retail commercial condominiums available for purchase.
Where is this retail space located?
The property is located at 959 Story Rd Suite 5230 San Jose, CA.
What is the asking price?
The asking price for this property is $658,900.
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.
