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    1198 Meridian Ave San Jose, CA 95125-4326
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    1198 Meridian Ave San Jose, CA 95125-4326

    View on Map
    • Office buildings
    • 3,600 SF
    • 0.29 lot acres
    Off-Market
    Property ID
    US09-3040049
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,395,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Robert Ferguson DDS / Dental Office
    • Tiffany Kitamura DDS and Mark Nishimura DDS / Dental Office
    • Tiffany Kitamura DDS, Mark M. Nishimura DDS / Dental Office

    Property Details for 1198 Meridian Ave

    Lot size
    0.29 lot acres
    Property size
    3,600 SF
    Zone code
    C1
    Property type
    Office buildings
    APN
    429-51-047
    APU
    42951047

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,715,000
      Current use
      WAREHOUSE, STORAGE
      $1,645,000
      Change: -4% Conversion: Difficult
      RETAIL STORES
      $1,430,000
      Change: -17% Conversion: Moderate

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.913
    Latitude
    37.3029
    CBSA code
    41940
    CBSA name
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $24,819
    $908,751
    $1,050,747
    $1,959,498
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,575,000
      12,489 SF

      1567 Meridian Ave

      OFFICE BUILDING • 12,489 SF
      1567 Meridian Ave, San Jose, CA 95125-5316
      View Details
    • Value Estimation
      $3,950,000
      16,988 SF

      1155 Meridian Ave

      OFFICE BUILDING • 16,988 SF
      1155 Meridian Ave, San Jose, CA 95125-4331
      View Details
    • Value Estimation
      $5,820,000
      15,882 SF

      1133 Minnesota Ave

      OFFICE BUILDING • 15,882 SF
      1133 Minnesota Ave, San Jose, CA 95125-3324
      View Details
    • Value Estimation
      $1,985,000
      7,724 SF

      265 Curtner Ave

      OFFICE BUILDING • 7,724 SF
      265 Curtner Ave, San Jose, CA 95125-1404
      View Details
    • Value Estimation
      $1,295,000
      4,206 SF

      805 Willow St

      OFFICE BUILDING • 4,206 SF
      805 Willow St, San Jose, CA 95125
      View Details
    • Value Estimation
      $2,195,000
      7,296 SF

      1302 Lincoln Ave

      OFFICE BUILDING • 7,296 SF
      1302 Lincoln Ave, San Jose, CA 95125-3015
      View Details

    Similar Nearby for Sale

    • Contact for pricing

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      San Jose Office Buildings For Sale

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      San Jose Office Building For Sale

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      Turnkey Office Near Downtown Willow

      Strategically located office building near Downtown Willow Glen district.
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    • $5,900,000
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      San Jose Flex Industrial Facility

      High-quality flex industrial/R&D facility in San Jose, California.
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    Similar Nearby for Lease

    • Contact for pricing
      4,750 SF

      Suburban Office Space Available

      Office building with open space, private offices, and breakroom.
      1723 Hamilton Ave, San Jose, CA 95125
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    • Contact for pricing

      San Jose Office Space Available

      Office space for lease in San Jose, California.
      2103 Lincoln Ave, San Jose, CA 95125
      View Details
    • Contact for pricing

      Furnished Private Office Spaces Available

      Shared or dedicated private office spaces in Willow Glen.
      1040 Lincoln Ave, San Jose, CA 95125
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    • Contact for pricing

      Downtown Willow Glen Office Space

      Office suites available in prime downtown Willow Glen location.
      1153 Lincoln Ave, San Jose, CA 95125
      View Details
    • Contact for pricing
      1,400 SF

      San Jose Office Space Available

      Office space for rent in San Jose with open floorplan.
      2280 Lincoln Ave, San Jose, CA 95125
      View Details
    • Contact for pricing
      3,674 SF

      Downtown Willow Glen Office Space

      Office space available for lease in downtown Willow Glen.
      1165-1167 Lincoln Ave, San Jose, CA 95125
      View Details

    Property Visit Statistics

    • Visits by month
      4.7k
    • Visitors by month
      3.6k
    • Avg Time on site
      6 min
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    1198 Meridian Ave
    San Jose, CA 95125-4326
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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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