Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Medical/Professional Office Condo For Sale Title is generated by Realmo AI

    Forest Avenue, San Jose, CA 95128

    View on Map
    Claim this Listing
    For Sale
    $799,000

    Medical/professional office condominium for sale near O'Connor Hospital.

    Type:Commercial
    Property size:
    1,600 SF
    Lot size:
    0.05 Acres
    Price / SF:
    $499/SF
    Added:
    May 22, 2025
    Days on Market:
    381
    Last Refresh:
    Apr 5 at 8:46 pm

    Property Features for Forest Avenue

    General Information

    Standard status
    Active
    Size
    1,600 SF
    Lot size
    0.05 Acres
    Property subtype
    Commercial

    Building Details

    Year Built
    1985

    We can help!

    Listing Contact
    CHRIS SHAHEEN
    CHRIS SHAHEEN

    Listing agent CHRIS SHAHEEN

    Listing office COLDWELL BANKER REALTY

    Listing date May 22, 2025

    Source Corcoran

    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 COLDWELL BANKER REALTY

    HighLights

    • Approximately 1,600sf medical/professional office condominium.
    • Excellent location on Forest Avenue, walking distance to O'Connor Hospital.
    • Easy access to 280 and 880.
    • Excellent floorplan with front reception/waiting area.
    • Four plumbed exam rooms.
    • Easy access to Santana Row and Valley Fair.

    Overview

    This is an opportunity to own a medical or professional office condominium with approximately 1,600 square feet of space. The property is located on Forest Avenue, within walking distance of O'Connor Hospital, and offers convenient access to highways 280 and 880, as well as Santana Row and Valley Fair. Situated on the third floor, the suite features a reception area with a waiting room, two offices, four exam rooms with plumbing, and a restroom. The property's floor plan is designed for medical or professional use.

    Local Financial Insights For Office B

    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 $89.7k $56.04
    − Vacancy −$14.6k −$9.13
    EGI $75.0k $46.91
    − OpEx −$18.8k −$11.73
    NOI $56.3k $35.18
    1,600 SF · lease $56.04/SF/yr · vacancy 16.30% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $804.1K
    $703.6K – $938.1K (±1% cap)
    NOI $56,287 @ 7.0% cap · market cap 7.04%
    Second Best
    Healthcare Medical
    $382.6K
    $334.8K – $446.4K (±1% cap)
    NOI $26,784 @ 7.0% cap · market cap 3.35%
    Theoretical Best
    Office A
    $966.3K
    $845.5K – $1.13M (±1% cap)
    NOI $67,640 @ 7.0% cap · market cap 8.47%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical Office Space

    Similar Places Nearby

    • Burbank Pet Hospital — 1819 W San Carlos St, San Jose, CA 95128
    • Bascom Veterinarian Center — 511 S Bascom Ave, San Jose, CA 95128
    • Leticia Alvarado - Burbank Pet Hospital — 1819 W San Carlos St, San Jose, CA 95128
    • Girish Kumar - Burbank Pet Hospital — 1819 W San Carlos St, San Jose, CA 95128
    • Michelle Fluegge - Burbank Pet Hospital — 1819 W San Carlos St, San Jose, CA 95128

    Map

    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.927
    Latitude
    37.327

    Nearby Similar for Sale

    • $1,899,000
      2,804 SF

      Four-Plex with Five-Stall Carport

      Well-maintained four-plex offering four 1-bedroom homes, private storage, and covered parking on a large lot.
      590 Macarthur AVE, SAN JOSE, CA 95128
      View Details
    • $1,948,000
      3,584 SF

      Well-Maintained Fourplex Opportunity

      Well-maintained four-unit property with recent roof and full 2024 plumbing replacement, suited for multifamily investors.
      3691 Cape Cod CT, SAN JOSE, CA 95117
      View Details
    • $1,900,000

      Multi-Unit Flex Automotive Property

      Flex automotive building with multiple roll-up door units, office space, full bathrooms, and substantial parking for operations.
      1856 Almaden RD, SAN JOSE, CA 95125
      View Details
    • $995,000

      Industrial Condominium with Roll-Up Door

      Vacant IP-zoned condo with office space and a warehouse roll-up door for owner-use or investment.
      2455 Autumnvale DR B, SAN JOSE, CA 95131
      View Details
    • $1,349,000

      Warehouse with Offices and Mezzanine

      Warehouse space with two roll-up doors, offices, and mezzanine, plus off-street parking and strong freeway access.
      1777 Smith AVE, SAN JOSE, CA 95112
      View Details
    • $1,580,000
      2,686 SF

      Four-Unit Multifamily with Private Garages

      Tenant-occupied four-unit property in R3 with private garages, coin-operated laundry, and remodeled kitchens and bathrooms.
      822 Opal DR, SAN JOSE, CA 95117
      View Details
    • $1,900,000

      C3 Retail/Office Building

      C3-zoned building in San Jose with substantial space for retail, office, or mixed-use redevelopment plans.
      702 E Santa Clara ST 206, SAN JOSE, CA 95112
      View Details
    • $1,850,000
      2,486 SF

      Duplex with Private Yard

      Two 2-bedroom, 2-bath units with private yards, garages, and a recently installed roof with a 40-year warranty.
      2322 Meridian AVE, SAN JOSE, CA 95124
      View Details
    • $1,699,000

      Residential Care Home with Outdoor Gardens

      Assisted living facility with dual-pane windows, A/C, and private and semi-private rooms.
      1708 Hallmark LN, SAN JOSE, CA 95124
      View Details
    • $3,350,000
      2,390 SF

      Renovated Office Building with Rentals

      Renovated building with three rental units and wheelchair accessibility, positioned near Santana Row in San Jose.
      Address not disclosed, SAN JOSE, CA 95128
      View Details
    • $1,499,000
      2,030 SF

      Well-Maintained Duplex with Private Yards

      Two-unit residential income property featuring private yards, attached garages, and in-unit laundry for each unit.
      5746 Chesbro AVE, SAN JOSE, CA 95123
      View Details
    • $1,549,950
      1,660 SF

      Duplex with Vacant Owner Unit

      Two 2-bedroom, 1-bath units with central A/C, detached garage parking, and outdoor yard space in an R2 setting.
      2915 Ross AVE, SAN JOSE, CA 95124
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Medical/professional office condominium for sale near O'Connor Hospital.
    Where is this medical office space located?
    The property is located at Forest Avenue San Jose, CA.
    What is the asking price?
    The asking price for this property is $799,000.
    What are key features of this property?
    This property features: Approximately 1,600sf medical/professional office condominium.; Excellent location on Forest Avenue, walking distance to O'Connor Hospital.; Easy access to 280 and 880.
    (408) 621-7473
    We can help!
    Listing Contact
    CHRIS SHAHEEN
    CHRIS SHAHEEN
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    Forest Avenue, San Jose, CA 95128
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!