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    Retail and Office Condominium Building Title is generated by Realmo AI

    969 Story Road, San Jose, CA 95122

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    Two-condo commercial building with flexible retail and office space and select built-out suites near major San Jose freeways.

    Type:Retail
    Property size:
    1,697 SF
    Price / SF:
    $987/SF
    Added:
    May 28, 2026
    Days on Market:
    10
    Last Refresh:
    Jun 6 at 3:19 am

    Property Features for 969 Story Road

    General Information

    Standard status
    Active
    Size
    1,697 SF
    Property subtype
    Retail

    Building Details

    Year Built
    2010

    We can help!

    Listing Contact
    Yuri Sergunin, CCIM
    Yuri Sergunin, CCIM

    Listing agent Yuri Sergunin, CCIM License #01908322

    Listing office Marcus & Millichap - Palo Alto

    Listing date May 28, 2026

    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 Marcus & Millichap - Palo Alto

    HighLights

    • Two‑condominium commercial building built in 2010 on Story Road in East San Jose
    • Flexible retail and office configuration with space suited for owner‑users, investors, and service or office uses
    • Select suites include built‑out interiors with private offices, conference rooms, restrooms, and mezzanine storage
    • Located in a high‑traffic retail and business district along heavily traveled Story Road
    • Convenient access to major highways 101, 280, and 680

    Overview

    969 Story Road is a modern commercial property comprised of two condominiums, offering flexible retail and office configurations for a range of commercial uses. Select suites feature fully built-out interiors with private offices, conference rooms, restrooms, and mezzanine storage, supporting efficient occupancy with limited upfront improvements.

    The building is positioned along Story Road within East San Jose’s retail and business corridor. The property is described as benefiting from visibility and is surrounded by neighborhood-serving retail, restaurants, professional services, and cultural destinations. Access is supported by nearby Highways 101, 280, and 680, and the property includes ample parking for customers, employees, and clients.

    This setup can work well for owner-users seeking a commercial condominium with built-out office amenities, as well as for investors and professional or service-oriented operators who value adaptable retail/office space. The combination of flexible unit configurations, select turn-key interiors, and convenient freeway connectivity is intended to support both day-to-day client traffic and ongoing workplace functionality.
    Location Intelligence

    Current Use by Public Records

    The Fifth Element Lounge Hotel & Motel Sunkissed salon Hair Salon Ao Dai Bridal ... (Bike/Boat/Book/etc) Store Tofu's Trading (Bike/Boat/Book/etc) Store Dr. Dan Dang Physician

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.8582198
    Latitude
    37.3319485

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    FAQs

    What type of property is this?
    Retail space - Two-condo commercial building with flexible retail and office space and select built-out suites near major San Jose freeways.
    Where is this retail space located?
    The property is located at 969 Story Road San Jose, CA.
    What is the asking price?
    The asking price for this property is $1,675,000.
    What are key features of this property?
    This property features: Two‑condominium commercial building built in 2010 on Story Road in East San Jose; Flexible retail and office configuration with space suited for owner‑users, investors, and service or office uses; Select suites include built‑out interiors with private offices, conference rooms, restrooms, and mezzanine storage
    (650) 391-1764 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Yuri Sergunin, CCIM
    Yuri Sergunin, CCIM
    Real Estate License ID: 01908322
    Learn More
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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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