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    Property profile & analytics

    1337-1359 Redmond Ave San Jose, CA 95120

    • Neighborhood centers
    • 164,000 SF
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 1337-1359 Redmond Ave

    Property size
    164,000 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties

    Description

    This exceptional retail opportunity is located in the vibrant Almaden Valley of San Jose, California, at 1337-1359 Redmond Ave, zip code 95120. The property, Almaden Oaks Plaza, is a well-established strip center totaling 164,000 square feet, offering multiple tenancy options. Currently, there is 1,965 square feet of vacant space available, divisible to a minimum of 630 square feet and with a maximum contiguous space of 1,335 square feet. This presents a unique chance for businesses seeking flexible space in a high-traffic location. The center benefits from strong anchor tenants, including Lucky's Supermarket and Rite Aid, ensuring consistent foot traffic and high visibility. The property is situated in Santa Clara County, providing easy access to major transportation routes and a dense residential population. This prime retail space is ideal for a variety of businesses seeking to establish or expand their presence in a thriving community. The address is easily accessible and benefits from high visibility along Redmond Avenue. The available space offers excellent potential for a variety of retail uses. Serious inquiries are encouraged to explore this exceptional opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.885
    Latitude
    37.2286

    Comparable in this City

    • Value Estimation by Request
      30,075 SF

      6938 Almaden Expy

      Neighborhood centers • 30,075 SF
      6938 Almaden Expy, San Jose, CA 95120
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    • Value Estimation
      $2,915,000
      15,230 SF

      6950 Almaden Expy

      SHOPPING CENTER, STRIP CENTER • 15,230 SF
      6950 Almaden Expy, San Jose, CA 95120-3201
      View Details
    • Value Estimation
      $2,650,000
      15,767 SF

      6091 Meridian Ave

      SHOPPING CENTER, STRIP CENTER • 15,767 SF
      6091 Meridian Ave, San Jose, CA 95120-2765
      View Details
    • Value Estimation
      $8,690,000
      52,761 SF

      6109 Meridian Ave

      SHOPPING CENTER, STRIP CENTER • 52,761 SF
      6109 Meridian Ave, San Jose, CA 95120-2727
      View Details
    • Value Estimation
      $5,010,000
      11,225 SF

      6079 Meridian Ave

      SHOPPING CENTER, STRIP CENTER • 11,225 SF
      6079 Meridian Ave, San Jose, CA 95120-2765
      View Details
    • Value Estimation
      $1,585,000
      4,400 SF

      6097 Meridian Ave

      SHOPPING CENTER, STRIP CENTER • 4,400 SF
      6097 Meridian Ave, San Jose, CA 95120-2765
      View Details

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    Similar Nearby for Lease

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      1,920 SF

      Neighborhood Shopping Center Retail Space

      Retail spaces available in busy Almaden Valley shopping center.
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      Retail Property in San Jose

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      San Jose Retail Space Available

      Retail space available for lease in San Jose, California.
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      San Jose Retail Space Available

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    1337-1359 Redmond Ave
    San Jose, CA 95120
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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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