Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1651 1st St San Jose, CA 95112-4507

    • Office buildings
    • 12,901 SF
    • 0.85 lot acres
    OFF-MARKET
    Value Estimations
    $3,745,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-0048614
    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

    • Santa Clara County Association of REALTORS® / Association / Organization / Non-Profit Organization

    Property Details for 1651 1st St

    Year built
    1983
    Construction
    TILT-UP CONCRETE
    Lot size
    0.85 lot acres
    Property size
    12,901 SF
    Zone code
    C1
    Property type
    Office buildings
    APN
    230-29-079
    APU
    23029079

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $5,211,000
      Market price range: $2.81M - $5.74M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,155,000
      Current use
      WAREHOUSE, STORAGE
      $5,905,000
      Change: +42% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $4,940,000
      Change: +19% Conversion: Easy
      RETAIL STORES
      $4,760,000
      Change: +15% Conversion: Moderate

    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
    37.3648
    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
    $55,611
    $2,320,865
    $2,043,203
    $4,364,068
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.15 Acres

      246 4th St

      OFFICE BUILDING • 0.15 Acres
      246 4th St, San Jose, CA 95112-5558
      View Details
    • Value Estimation by Request
      0.14 Acres

      593 4th St

      OFFICE BUILDING • 0.14 Acres
      593 4th St, San Jose, CA 95112
      View Details
    • Value Estimation
      $6,245,000
      21,840 SF

      41 Gish Rd

      OFFICE BUILDING • 21,840 SF
      41 Gish Rd, San Jose, CA 95112-4802
      View Details
    • Value Estimation
      $930,000
      3,770 SF

      250 Keyes St

      OFFICE BUILDING • 3,770 SF
      250 Keyes St, San Jose, CA 95112-3907
      View Details
    • Value Estimation
      $16,605,000
      72,000 SF

      96 3rd St

      OFFICE BUILDING • 72,000 SF
      96 3rd St, San Jose, CA 95112-7702
      View Details
    • Value Estimation
      $1,655,000
      6,235 SF

      1199 5th St

      OFFICE BUILDING • 6,235 SF
      1199 5th St, San Jose, CA 95112-4416
      View Details

    Similar Nearby for Sale

    • $600,000
      6,812 SF

      San Jose Office Building For Sale

      Office building with 6,812 square feet of space.
      246 Keyes St, San Jose, CA 95112
      View Details
    • $2,675,000
      5,095 SF

      Downtown San Jose Office Building

      Restored office building in downtown San Jose with parking.
      45 E Julian St, San Jose, CA 95112
      View Details
    • $6,900,000
      17,036 SF

      San Jose Commercial Property Opportunity

      Commercial property near downtown San Jose, ideal for medical or school.
      480 N 1St St, San Jose, CA 95112
      View Details
    • $3,925,000
      6,945 SF

      Prime San Jose Medical Office

      Two buildings, 6,945 SF, excellent location.
      602 Santa Clara St, San Jose, CA 95112
      View Details
    • $1,899,999
      3,578 SF

      San Jose Commercial Building For Sale

      Commercial building in a bustling shopping center, many possibilities!
      2268 Senter Rd, San Jose, CA 95112
      View Details
    • $5,000,000
      15,124 SF

      Prime San Jose Industrial Building

      15,124 SF Warehouse/Office, $5M
      840 Jury Ct, San Jose, CA 95112
      View Details

    Similar Nearby for Lease

    • $27 SF/Yr
      12,406 SF

      Prime San Jose Executive Office Space

      Downtown San Jose Office Suites Available
      610-650 Santa Clara St, San Jose, CA 95112
      View Details
    • Contact for pricing
      800 SF

      San Jose Office/Flex Space

      Office and industrial units near San Jose Airport and Highway 101.
      1445 Koll Cir, San Jose, CA 95112
      View Details
    • $2 SF/Yr
      5,515 SF

      Contemporary Office Space Near Airport

      Modern office space with excellent transit and airport access.
      1737 N 1St St, San Jose, CA 95112
      View Details
    • $1.50 SF/Yr
      1,600 SF

      San Jose Flex Space Available

      Flex space with office and warehouse components for lease.
      1450 Koll Cir, San Jose, CA 95112
      View Details
    • $1.50 SF/Yr
      2,000 SF

      San Jose Flex Space Available

      Flex space with office and warehouse components for lease.
      1425 Koll Cir, San Jose, CA 95112
      View Details
    • $2 SF/Yr
      634 SF

      Downtown Office Suites Available

      Small office suites for rent in a downtown location.
      602 E Santa Clara St, San Jose, CA 95112
      View Details

    Property Visit Statistics

    • Visits by month
      5.9k
    • Visitors by month
      1.4k
    • Avg Time on site
      500 min
    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.
    1651 1st St
    San Jose, CA 95112-4507
    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

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.