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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1588 Meridian Ave San Jose, CA 95125-5320

    • Retail space
    • 8,138 SF
    • 0.42 lot acres
    OFF-MARKET
    Last Sale
    May 04, 2023
    $3,850,000
    Value Estimations
    $3,660,000
    Show details
    Cap Rate Potential
    6.1%
    Retail space
    Location Intelligence
    Property ID
    US09-0282543
    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.

    Current Use by Public Records

    • Dynamic Salon / Beauty Salon / Hair Salon

    Property Details for 1588 Meridian Ave

    Year built
    1951
    Lot size
    0.42 lot acres
    Property size
    8,138 SF
    Zone code
    C1H
    Property type
    Retail space
    APN
    429-47-017
    APU
    42947017

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,585,000
      ML approach
      $3,640,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $3,665,000
      6.5%
      $3,380,000
      7%
      $3,140,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,814,000
      Market price range: $1.42M - $4.95M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $3,235,000
      Current use
      OFFICE BUILDING
      $3,875,000
      Change: +20% Conversion: Easy
      WAREHOUSE, STORAGE
      $3,725,000
      Change: +15% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $2,980,000
      Change: -8% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.913
    Latitude
    37.2948
    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
    2022
    $0.00
    $1,068,643
    $1,069,504
    $2,138,147
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $805,000
      3,393 SF

      1378 Lincoln Ave

      RETAIL STORES (PERSONAL SERVICES) • 3,393 SF
      1378 Lincoln Ave, San Jose, CA 95125-3010
      View Details
    • Value Estimation
      $790,000
      2,360 SF

      2276 Canoas Gdn Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,360 SF
      2276 Canoas Gdn Ave, San Jose, CA 95125
      View Details
    • Value Estimation
      $1,945,000
      11,887 SF

      2285 Lincoln Ave

      RETAIL STORES (PERSONAL SERVICES) • 11,887 SF
      2285 Lincoln Ave, San Jose, CA 95125-2728
      View Details
    • Value Estimation
      $690,000
      2,895 SF

      2076 Lincoln Ave

      RETAIL STORES (PERSONAL SERVICES) • 2,895 SF
      2076 Lincoln Ave, San Jose, CA 95125-3539
      View Details
    • Value Estimation
      $3,975,000
      24,304 SF

      1601 Meridian Ave

      RETAIL STORES (PERSONAL SERVICES) • 24,304 SF
      1601 Meridian Ave, San Jose, CA 95125-5532
      View Details
    • Value Estimation
      $2,905,000
      10,262 SF

      1525 Meridian Ave

      RETAIL STORES (PERSONAL SERVICES) • 10,262 SF
      1525 Meridian Ave, San Jose, CA 95125-5354
      View Details

    Similar Nearby for Sale

    • $4,325,750

      San Jose Mixed-Use Investment Opportunity

      Three buildings on two parcels in desirable Willow Glen neighborhood.
      2061-2075 Lincoln Ave, San Jose, CA 95125
      View Details
    • Contact for pricing
      8,900 SF

      Retail Building on Lincoln Avenue

      8,900 SF retail building in San Jose for sale.
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    • $1,000,000
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      Two Equipped Latin American Restaurants

      Two fully equipped restaurants in desirable, high-traffic neighborhoods.
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    • $699,000
      3,264 SF

      Established Restaurant in Willow Glen

      Turnkey breakfast and brunch restaurant with loyal neighborhood following.
      860 Willow St, San Jose, CA 95125
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    • $1,900,000
      0.42 Acres

      Silicon Valley Infill Development Site

      0.42 acre site zoned for urban residential development.
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    • $4,325,750
      6,654 SF

      San Jose Office Buildings For Sale

      Three buildings on two parcels with flexible lease terms.
      2075 Lincoln Ave, San Jose, CA 95125
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,321 SF

      Retail Space in Shopping Center

      Retail space available in a busy shopping center.
      111-121 Curtner Ave, San Jose, CA 95125
      View Details
    • Contact for pricing
      876 SF

      Retail Space in San Jose

      Retail space available for lease in San Jose, CA.
      1597 Meridian Ave, San Jose, CA 95125
      View Details
    • $34 SF/Yr
      1,339 SF

      Retail Space in Willow Glen

      Retail space with high visibility and ample parking.
      1521-1525 Meridian Ave, San Jose, CA 95125
      View Details
    • Contact for pricing
      1,686 SF

      San Jose Retail Power Center

      Dynamic retail center with top national tenants and future supermarket.
      1 Curtner Ave, San Jose, CA 95125
      View Details
    • $1,600 /Mo
      2,273 SF

      Willow Glen Retail Space Available

      Rare ±2,273 SF retail space in the heart of Willow Glen.
      1151-1155 Lincoln Ave, San Jose, CA 95125
      View Details
    • $30 SF/Yr
      1,125 SF

      Retail Space in San Jose

      Retail space available for lease in San Jose, CA.
      699 Curtner Ave, San Jose, CA 95125
      View Details
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    1588 Meridian Ave
    San Jose, CA 95125-5320
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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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