Retail/Medical Space at Vietnam
For Sale
$780,300
959 Story Road #5165, San Jose, CA 95122
Retail, medical, and professional spaces for sale.
Property Size1,210 SF
Price / SF$644.88
Days on Market887
Property Features for 959 Story Road #5165
General Information
Standard status
Active
Size
1,210 SF
Property subtype
Commercial
Amenities
Common Garage
Bitumen Roof
Covered Parking
Elevator/Lift
No Heat Heating
Parking Area
Wheelchair Access
Building Details
Year Built
2017
Listing Agency:
GD COMMERCIAL REAL ESTATE INC
(408) 955-9900
Listed By:
JEFF VO · License #01441068
Source:
Corcoran
Added: Mar 6, 2024
Changed: Aug 8
Last Checked: Aug 8 at 2:38PM
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.
Available for purchase are restaurant, medical, professional, and retail spaces located within the Shops at Vietnam Town. The property offers an opportunity for ownership rather than leasing. It is positioned as a convenient location for medical, dental, clinic, urgent care, surgery, and healthcare provider facilities. The sizes of available spaces range from approximately 600 to approximately 1,600 square feet, with the option to combine multiple units for larger configurations. The property is located at 959 Story Road #5165, San Jose, CA 95122 and has a property size of 1210 square feet.
Key Highlights
- Opportunity to OWN instead of LEASING commercial space.
- Located in the Shops at Vietnam Town, a fast‑growing lifestyle center.
- Suitable for a variety of uses: Restaurant, Medical, Professional, and Retail.
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
$42,567
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
5.46%
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%
$851,340
$851.3K
Cap Rate 7%
$608,100
$608.1K
Cap Rate 9%
$472,967
$473.0K
Market Conditions
NOI Build-Up for 1,210 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
$67.8K $56.04/SF
− Vacancy
−$11.1K −$9.13/SF
EGI
$56.8K $46.91/SF
− OpEx
−$14.2K −$11.73/SF
NOI
$42.6K $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%
$851,340
Cap Rate 7%
$608,100
Cap Rate 9%
$472,967
Alternative Uses
Best Use
Office B
$608.1K
$532.1K – $709.5K
NOI $42,567 @ 7.0% cap · market cap 5.46%
Second Best
Specialty Retail
$500.3K
$437.7K – $583.6K
NOI $35,018 @ 7.0% cap · market cap 4.49%
Theoretical Best
Office A
$730.5K
$639.2K – $852.3K
NOI $51,135 @ 7.0% cap · market cap 6.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
961
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 - Retail, medical, and professional spaces for sale.
Where is this retail space located?
The property is located at 959 Story Road #5165 San Jose, CA.
What is the asking price?
The asking price for this property is $780,300.
What are key features of this property?
This property features: Opportunity to OWN instead of LEASING commercial space.; Located in the Shops at Vietnam Town, a fast‑growing lifestyle center.; Suitable for a variety of uses: Restaurant, Medical, Professional, and Retail.
