Commercial Condominiums in Vietnam
959 Story Rd Suite 5220 San Jose, CA 95122
959 Story Rd Suite 5220, San Jose, CA, 95122
Contact for pricing
For Sale
Contact for pricing
Medical, professional, and retail condos for sale or lease-to-own.
Property Size1,198 SF
Price / SF$550
Days on Market796
Property Features for 959 Story Rd Suite 5220
General Information
- Standard status
- Active
- Size
- 1,198 SF
- Property subtype
- Retail
Listing Agency
GD Commercial Real Estate Inc.
(408) 877-9900
Listed by
Jeff Vo · License #1441068
Source
Crexi
Added: May 16, 2024 Updated: Jul 10 at 3:44 pm Checked: Jul 20 at 4:56 am
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.
Investment Insights
Based on property information with market context.
Commercial condominiums are available in Vietnam Town, suitable for medical, professional, and retail businesses. Ownership opportunities are available in this newly built property. The location is convenient for medical, dental, clinic, urgent care, surgery, and healthcare provider facilities. It is also suitable for professional and service offices such as optometry, acupuncture, insurance, real estate, finance, legal and law firms, immigration, cosmetics, beauty salons, and non-profit organizations. The retail tenant mix includes 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. Real estate investment offers potential for long-term tenants, low maintenance costs, better rental income, and greater return on capital. The property provides easy access to Highways 101, 280, and 680, and Mineta San Jose International Airport. Vietnam Town also offers a Lease-To-Own Program. Upstairs units are available for the Lease-to-Own program with lease rates starting at $2.00 per Sq.Ft. NNN, with six months of free base rent for a 3-year lease term. The purchase price can be locked in, and the buyer can exercise the purchase option within two years. The building features approximately 16' clear height. Unit sizes range from 558 SF to 1,583 SF, and units can be combined for larger square footage. There are a total of 17 office and 17 retail units. Each unit comes with a single completed restroom. Power is 100 Amps, 120/208 Volt, 3-phase 4-wire.
Key Highlights
- Opportunity to OWN commercial property in a high‑growth area (Vietnam Town) instead of leasing.
- 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.
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 Analytics
Property Profile
Location Intelligence
Current Use by Public Records
MH Beauty & Spa
Spa & Massage Center
Similar For Sale Nearby
FAQs
What type of property is this?
Retail space - Medical, professional, and retail condos for sale or lease-to-own.
Where is this retail space located?
The property is located at 959 Story Rd Suite 5220 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 high‑growth area (Vietnam Town) instead of leasing.; 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.
