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Property profile & analytics
OFF-MARKET
Estimated value
$68,830,000
Retail space
184 Market St San Jose, CA 95113-2360
Trust Owned
Absentee Owner
Free & Clear
Property ID
US09-3613484
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2002
Construction
STEEL FRAME
Total area
231,396 SF
Lot
0.94 ac (40,990 SF)
Zoning code
DC
APN
259-56-001
UPID
US09-3613484
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$96.16M
Comparable Approach
Comparable
$95.01M
Blend (final)
Blend
$68.83M
Owner & transaction history
The Board Of Trustees Of The Califo
The Board Of Trustees Of The Califo
since 2025
7 recorded transactions
Zoning & alternative use
DC · San Jose, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$105.9M
+27.6%
Apartment house (5+ units)
$84.7M
+2.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs San Jose submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Jose submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$68,045,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$104,175,000
6.5%
$96,160,000
7%
$89,290,000
Alternative Use
Use
Estimation
RETAIL STORES
$82,975,000
Current use
WAREHOUSE, STORAGE
$105,890,000
Change: +28% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$84,740,000
Change: +2% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$68,335,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$68.83M
Range $61.95M – $75.71M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$297 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$879,246
Tax year 2024
Assessed value
$73,100,000
Assessed 2024
Previous assessed
$73,100,000
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$11,272,000
Assessed improvement
$61,828,000
Applied tax rate
17.0000
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
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
2002
Construction
STEEL FRAME
Heating
NONE
Cooling
YES
Stories
14
Units
264
Total area
231,396 SF
Lot
0.94 ac (40,990 SF)
Zoning code
DC
APN
259-56-001
UPID
US09-3613484
Jurisdiction
SANTA CLARA
Zoning & alternative use
DC · San Jose, CA
Zoning DC · permitted uses
DC · San Jose, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Jose. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$83.0M
WAREHOUSE, STORAGE
Est. value
$105.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$84.7M
INDUSTRIAL (GENERAL)
Est. value
$68.3M
RETAIL STORES Current
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2002
Construction
STEEL FRAME
Heating
NONE
Cooling
Yes
Stories
14
Units
264
Lot
0.94 ac
Current owner
From public records · entity-resolved
The Board Of Trustees Of The Califo
Trust
Free & Clear · 0 yrs held
Mailing address
591 REDWOOD HWY FRONTAGE RD, MILL VALLEY, CA 94941-6001
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 1, 2025
—
The Board Of Trustees Of The Califo
Ag170 LLC
Grant Deed
—
Nov 20, 2023
—
Board Of Trustees Of Tile Ca St Uni
Ag170 LLC
Lease
$250,000 · Umb Bank NA
Nov 17, 2023
$73,100,000
Ag170 LLC
Sc Sj Holdings LLC
Grant Deed
—
Jun 12, 2023
—
Sc Sj Holdings LLC
—
Deed
related
$193,435,383 · Brightspire Credit 1 LLC
Feb 15, 2023
—
Sc Sj Holdings LLC
—
Deed
related
$191,953 · Brightspir E Credit 1 LLC
Oct 21, 2021
—
Greystone Valentine Holdings LLC
Joanne Hulme
Grant Deed
—
Jan 2, 2018
$886,600,000
Sc Sj Holdings LLC
Light Tower Associates LP
Trustees Deed
related
$173,485,000 · Ns Income Ns Income Opportunit
Apr 3, 2017
$4,935,000
170 South Market LLC
170 Fairmont Way LLC
Trust Deed
$2,600,000 · Avidbank
Aug 8, 2014
—
Light Tower Associates LP
—
Loan Modification
related
$100,000,000 · Metropolitan Life Insurance
Dec 28, 2009
—
Light Tower Associates LP
—
Deed Of Trust
related
$100,000,000 · Metropolitan Life Insurance
Dec 7, 2005
$16,954,500
Light Tower Associates Sub LLC
Light Tower Associates
Grant Deed
—
Jun 2, 2000
—
Light Tower Assoc LLC
Redevelopment Agency San Jose
Grant Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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