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1520 S Willard Ave, San Jose, CA 95126
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Property summary
AI-generated overview
This exceptional redevelopment opportunity presents a fully entitled mixed-use project in San Jose's vibrant Midtown. The assemblage comprises 1.34 acres of land, zoned for a Class A, eight-story building featuring 256 residential units and 15,203 square feet of commercial space. The project includes 20% (51 units) of affordable housing, fulfilling on-site obligations, with the remaining 205 units designated as market rate. Parking is generously provided with 261 stalls located in a full basement and at the rear of the ground level. The building design incorporates a podium structure, utilizing a combination of concrete and wood framing. The market-rate units will reach a height of 79 feet to the roofline, extending to 88 feet with architectural elements. The affordable housing units will share a connected ground-level structure. This offering presents a unique chance to acquire a substantial, fully entitled project in a market with limited comparable inventory, promising significant long-term returns. The asking price is $33,000,000. The project is anticipated to be completed in 2026. This is a prime opportunity for investors seeking a high-return, mixed-use development in a thriving California location. The project is located at 1520 W San Carlos St, San Jose, CA 95126, in Santa Clara County.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1948
Construction
TILT-UP CONCRETE
Total area
7,130 SF
Lot
0.37 ac (16,135 SF)
Zoning code
G
APN
277-18-021
UPID
US09-1463464
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Church
-
Metal Fabrication Plant
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.07M
CAP Approach
CAP
$2.97M
Comparable Approach
Comparable
$3.14M
Blend (final)
Blend
$4.14M
Owner & transaction history
since 2022
Last sale
$5.0M
7 recorded transactions
Zoning & alternative use
G · San Jose, CA
Top alternative use upside
Warehouse, storage
$3.3M
+46.7%
Apartment house (5+ units)
$2.7M
+21.5%
Office building
$2.6M
+15.6%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 7 comparables with addresses
3 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
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Summary
1
Valuation conclusion
Included free
Estimated market value
$4.14M
Value range
$3.72M – $4.55M
±10% around blend
Estimated value / SF
$580 / SF
Confidence
High
7 county-verified comps
Property data
88
Market benchmarks
100
Comparable evidence
70
$3.72M
blend $4.14M
$4.55M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
7,130 SF
Lot area
0.37 ac
Year built
1948
Stories
1
APN
277-18-021
Zoning
G
Assessed value
$5,100,000
3
Income approach: direct capitalization
Partial preview
Income approach indication
$2.97M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$3.21M
@ 6.5% CAP return
$2.97M
@ 7% CAP return
$2.75M
4
Sales comparison
Partial preview
Sales approach indication
$3.00M
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.9 mi away · 9,089 SF
5.6 mi away · 5,504 SF
7.9 mi away · 5,564 SF
8.0 mi away · 5,280 SF
8.7 mi away · 6,750 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$4.14M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 38 sales
$312
+86%
Submarket 414 sales
$478
+21%
County 827 sales
$535
+8%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $580/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Warehouse, Storage
Gross theoretical uplift
+47%
vs current-use indication
Apartment House (5+ Units)
Office Building
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
Not available
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 7 sales
Market rates by use type
PDF export
Professional Plan · 30 reports
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Overview
Implied cap rate
4.70%
Implied, in-place cap rate for this retail space
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 4.70%
9.0%
NOI (est.)
$350k *
Last sale · May 2022
$5.00M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$7.45M
Move the market yield to see immediate price impact.
Value / SF
$1,044
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
4.20%4.70%5.20%
$315k
$7.50M
$6.70M
$6.06M
$350k
$8.33M
$7.45M
$6.73M
$385k
$9.17M
$8.19M
$7.40M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$2.26M
3.1 mi · Dec 2025 · $285/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Assessed value
$5,100,000
Assessed 2023
Previous assessed
$1,707,562
+198.7% YoY
Assessed land
$5,100,000
Applied tax rate
17.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Sale
Year built
1948
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Stories
1
Units
4
Total area
7,130 SF
Lot
0.37 ac (16,135 SF)
Zoning code
G
APN
277-18-021
UPID
US09-1463464
Jurisdiction
SANTA CLARA
Zoning & alternative use
G · San Jose, CAZoning G · permitted uses
G · San Jose, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1948
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Units
4
Lot
0.37 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
G
Jurisdiction
San Jose, CA
Recorded code
G
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for G in San Jose, CA.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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