Mixed-Use Property in San
994 The Alameda San Jose, CA 95126
994 The Alameda, San Jose, CA, 95126
$3,895,000
For Sale
$3,895,000
Mixed-use property with residential and retail units in San Jose.
Property Size9,148 SF
Price / SF$425.78
Days on Market172
Property Features for 994 The Alameda
General Information
- Standard status
- Active
- Size
- 9,148 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1924
Listing Agency
JEFREY HENDERSON, BROKER
(408) 453-7461
Listed by
JEFREY HENDERSON · License #01483399
Source
Corcoran
Added: Jan 29 Checked: Jul 20 at 3:57 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 JEFREY HENDERSON, BROKER
Investment Insights
Based on property information with market context.
The property at 994 The Alameda is a mixed-use building featuring seven residential units and four ground-floor retail units. The residential component includes four studio apartments and three one-bedroom, one-bathroom units. The retail spaces have been improved by the tenants, who have operated successful businesses at the property for over five years. The property systems and units have been well-maintained, with select units featuring upgraded kitchens, countertops, cabinets, and bathrooms. Capital improvements exceeding $50,000 were made in 2025, including upgrades to the roof, two new water heaters, and electrical subpanels. The property offers a value-add opportunity by adjusting the full-service leases to NNN leases upon expiration, potentially capturing a rental premium.
Key Highlights
- Value‑add opportunity: Convert to NNN leases and increase rental income by approximately 35%.
- Features seven residential units (4 studios, 3 one‑bedroom) and four ground‑floor retail spaces.
- Retail tenants have operated successful businesses for 5+ years.
Local Financial Insights For Retail
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 | $369.9k | $40.44 |
| − Vacancy | −$16.9k | −$1.85 |
| EGI | $353.0k | $38.59 |
| − OpEx | −$105.9k | −$11.58 |
| NOI | $247.1k | $27.01 |
9,148 SF · lease $40.44/SF/yr · vacancy 4.58% · expense 30.00%
Alternative Uses
Best Use
Retail
$3.53M
$3.09M – $4.12M
NOI $247,101 @ 7.0% cap · market cap 6.34%
Second Best
Apartment 5plus
$2.72M
$2.38M – $3.17M
NOI $190,277 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$5.52M
$4.83M – $6.45M
NOI $386,733 @ 7.0% cap · market cap 9.93%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
TRND
Hair Salon
KodakStylez @ Strictly Styles ...
Hair Salon
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FAQs
What type of property is this?
Mixed-use property - Mixed-use property with residential and retail units in San Jose.
Where is this mixed-use property located?
The property is located at 994 The Alameda San Jose, CA.
What is the asking price?
The asking price for this property is $3,895,000.
What are key features of this property?
This property features: Value‑add opportunity: Convert to NNN leases and increase rental income by approximately 35%.; Features seven residential units (4 studios, 3 one‑bedroom) and four ground‑floor retail spaces.; Retail tenants have operated successful businesses for 5+ years.
