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    244 Jackson Ave San Jose, CA 95116-1604

    • Office buildings
    • 11,500 SF
    • 0.69 lot acres
    OFF-MARKET
    Last Sale
    Oct 22, 2024
    $2,850,000
    Value Estimations
    $2,420,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3126617
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Capulong Dale A MD / Obstetrician-Gynecologist
    • Adura Miranda Jose A MD / General Practitioner
    • Rosa E. Heredia, FNP / Nurse Practitioner
    • Joshi J S MD / Otolaryngologist
    • Dr. Andrew N. Hartman, MD / Pediatrician

    Property Details for 244 Jackson Ave

    Year built
    1970
    Lot size
    0.69 lot acres
    Property size
    11,500 SF
    Zone code
    CO
    Property type
    Office buildings
    APN
    484-07-057
    APU
    48407057

    Description

    This exceptional 11,500 square foot medical office building, situated on a sizable 30,000 square foot corner lot in San Jose, California, presents a compelling investment opportunity. Located at 244 N Jackson Ave, 95116, this two-story building, constructed in 1930 and renovated in 1970, is zoned for Commercial Office (CO) use. Currently a multi-tenant property, it offers ten individual suites, providing flexibility for various medical practices or the potential to combine for larger occupants. The property boasts a functional basement area ideal for storage or equipment. This bank-owned foreclosure is being offered at $3,200,000, translating to $278.26 per square foot. Its strategic location directly across from the Regional Medical Center Hospital Campus offers unparalleled visibility and accessibility. The property will be delivered vacant upon closing, allowing for immediate owner-user occupancy or the opportunity to lease to multiple tenants. This value-add opportunity is perfect for medical professionals or investors seeking a prime location in a thriving market. The APN is 484-07-057.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,425,000
      ML approach
      $2,425,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,055,000
      Market price range: $2.15M - $6.38M
      AI Estimate
      $1,663,000
      Market price range: $1.66M - $2.77M

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.848
    Latitude
    37.3642
    CBSA code
    41940
    CBSA name
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $41,299
    $1,673,277
    $1,338,621
    $3,011,898
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $380,000
      8,691 SF

      2344 Mckee Rd

      OFFICE BUILDING • 8,691 SF
      2344 Mckee Rd, San Jose, CA 95116-1616
      View Details
    • Value Estimation
      $240,000
      40,100 SF

      1075 Santa Clara St

      OFFICE BUILDING • 40,100 SF
      1075 Santa Clara St, San Jose, CA 95116-2244
      View Details
    • Value Estimation
      $305,000
      3,200 SF

      1141 William St

      OFFICE BUILDING • 3,200 SF
      1141 William St, San Jose, CA 95116-3114
      View Details
    • Value Estimation
      $290,000
      1,770 SF

      1272 Julian St

      OFFICE BUILDING • 1,770 SF
      1272 Julian St, San Jose, CA 95116-1009
      View Details
    • Value Estimation
      $275,000
      2,355 SF

      200 Jose Figueres Ave Ste, Unit 225

      OFFICE BUILDING • 2,355 SF
      200 Jose Figueres Ave Ste, San Jose, CA 95116-1588
      View Details
    • Value Estimation
      $270,000
      1,695 SF

      200 Jose Figueres Ave Ste, Unit 440

      OFFICE BUILDING • 1,695 SF
      200 Jose Figueres Ave Ste, San Jose, CA 95116-1593
      View Details

    Similar Nearby for Sale

    • $859,000
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      Medical Office Condo Near Hospital

      Move-in ready medical office condo near Regional Medical Center.
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    • $372,000
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      Medical Office Condo For Sale

      Ground floor medical office condo near Regional Medical Center.
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      Nightclub and Redevelopment Opportunity

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    Similar Nearby for Lease

    • $3 SF/Yr
      1,292 SF

      Medical Office Space Available

      Medical office space near Regional Medical Center with easy highway access.
      280 N Jackson Ave, San Jose, CA 95116
      View Details
    • $3 SF/Yr
      7,486 SF

      San Jose Office Space Available

      7,486 square foot office space for rent in San Jose.
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      View Details
    • $42 SF/Yr
      2,617 SF

      San Jose Office Space Available

      Office space available for lease in San Jose, California.
      1653 Mckee Rd, San Jose, CA 95116
      View Details
    • $2 SF/Yr
      1,186 SF

      Professional Office Suite for Rent

      Office suite featuring private offices, reception, and ample storage.
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    • $2 SF/Yr
      3,400 SF

      Historic Theater Space Available

      Iconic theater space for rent on E. Santa Clara Street.
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    • $5,000 /Mo

      San Jose Specialty Property

      Specialty property available for rent in San Jose, CA.
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      View Details
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    244 Jackson Ave
    San Jose, CA 95116-1604
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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
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