Mixed-Use Property in San
For Sale
$3,895,000
994 The Alameda, San Jose, CA 95126
Mixed-use property with residential and retail units in San Jose.
Property Size9,148 SF
Price / SF$425.78
Days on Market230
Property Features for 994 The Alameda
General Information
Standard status
Active
Size
9,148 SF
Building Details
Year Built
1924
Listing Agency:
CBRE, Inc.
Listed By:
Adam Foley · License #02144332
(408) 893-8063
Source:
Myfabuloushome
Added: Mar 5
Changed: Oct 16
Last Checked: Oct 20 at 10:40PM
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 CBRE, Inc.
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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.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$190,277
Cap Rate
4.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,805,540
$3.8M
Cap Rate 7%
$2,718,243
$2.7M
Cap Rate 9%
$2,114,189
$2.1M
Market Conditions
NOI Build-Up for 9,148 SF
Gross rent
$362.3K $39.60/SF
− Vacancy
−$16.3K −$1.78/SF
EGI
$346.0K $37.82/SF
− OpEx
−$155.7K −$17.02/SF
NOI
$190.3K $20.80/SF
Area
San Jose, CA
Vacancy
4.50%
Lease Rate
$39.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,805,540
Cap Rate 7%
$2,718,243
Cap Rate 9%
$2,114,189
Alternative Uses
Best Use
Apartment 5plus
$2.72M
$2.38M – $3.17M
NOI $190,277 @ 7.0% cap · market cap 4.89%
Second Best
Mixed Use
$2.71M
$2.37M – $3.16M
NOI $189,364 @ 7.0% cap · market cap 4.86%
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 authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
2,604
Businesses Nearby
Explore this area
Business Placement
Demographics for 95126, CA
37,372
Population
16,936
Households
2.2
Avg Household Size
36
Median Age
55%
College-Educated
89%
High-School Grad
3.3 sq mi
ZIP Area
11,325
Density / Sq Mi
$127,297
Median Household Income
$72,722
Median Earnings
$2,544
Median Rent
$1,195,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
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.
