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    Renovated Office Building with Rentals Title is generated by Realmo AI

    Address not disclosed, San Jose, CA 95128

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    Claim this Listing
    For Sale
    $3,350,000

    MULTI_FAMILY - SAN JOSE, CA

    Property size:
    2,390 SF
    Lot size:
    0.21 Acres
    Price / SF:
    $1,401/SF
    Added:
    May 19, 2026
    Days on Market:
    16
    Last Refresh:
    Jun 3 at 9:06 pm

    Property Features for Address not disclosed

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    C3H
    Bedrooms
    5
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 5, Bedroom 4, Bedroom 3
    Parking
    6
    Security features
    Security Lighting
    Interior features
    Inverted Floor Plan
    Appliances
    Appliances - Vary by Unit
    Standard status
    Active
    Size
    2,390 SF
    Lot size
    0.21 Acres

    Utilities

    Heating system
    Natural Gas, Forced Air, Central
    Water source
    Public

    Building Details

    Year built
    1953
    Number of units
    3
    Flooring type
    Carpet, Laminate
    Building materials
    Wood Frame
    Roof type
    Composition
    Architectural style
    Contemporary

    We can help!

    Listing Contact
    Douglas Williams

    Listing agent Douglas Williams License #00608644

    Listing office eXp Realty of California Inc 2603 Camino Ramon Suite 200, San Ramon, CA

    Listing date May 19, 2026

    MLS# ML82047824 Listing URL

    Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 3 separate rental units on a 9000+ SF parcel; previously used as a commercial doctors office
    • Wheelchair accessible, low‑maintenance building with an on‑site parking lot
    • Wood frame construction with rock and stucco exterior and a pitched composition shingle roof
    • Includes solar and has a concrete perimeter foundation
    • Year built 1953; forced‑air central heating with natural gas
    • Public water source; laminate and carpet flooring

    Overview

    This renovated wood-framed building features a rock and stucco exterior with a pitched composition shingle roof. The property has a concrete perimeter foundation and includes solar. It is wheelchair accessible, and it has been updated over time while maintaining a low-maintenance approach. Historically used as a commercial doctors office, it is currently operated as three separate rental units.

    The property is located in close proximity to Santana Row. The site sits on a 9,000+ square foot parcel, and it includes parking on site. Zoning is listed as C3H, and the City of San Jose has an updated Urban Village Plan for the area.

    For buyers and operators, the current configuration supports an owner-occupant or investor seeking three separate rental units within a building designed around office-type use. The property also offers developer possibilities and may be considered for a 1031 exchange, subject to buyer due diligence and applicable requirements. With the building appearing to be in good condition and including on-site parking and accessibility features, it can be evaluated as a straightforward repositioning and/or continued rental operation in the C3H zoning context.
    Property Profile Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.944109
    Latitude
    37.321947

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    FAQs

    What type of property is this?
    Office units - Renovated building with three rental units and wheelchair accessibility, positioned near Santana Row in San Jose.
    Where is this office units located?
    The property is located at Address not disclosed San Jose, CA.
    What is the asking price?
    The asking price for this property is $3,350,000.
    What are key features of this property?
    This property features: 3 separate rental units on a 9000+ SF parcel; previously used as a commercial doctors office; Wheelchair accessible, low‑maintenance building with an on‑site parking lot; Wood frame construction with rock and stucco exterior and a pitched composition shingle roof
    (408) 605-3893
    We can help!
    Listing Contact
    Douglas Williams
    Real Estate License ID: 00608644
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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.

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