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

    1844 Park Ave San Jose, CA 95126-1633

    • Apartment buildings
    • 6,660 SF
    • 0.28 lot acres
    OFF-MARKET
    Last Sale
    Jul 22, 2022
    $3,100,000
    Value Estimations
    $2,830,000
    Show details
    Cap Rate Potential
    5.5%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-2679754
    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

    • Furry Babies Pet Care Services / Kennel & Boarding Facility

    Property Details for 1844 Park Ave

    Year built
    1963
    Construction
    WOOD
    Lot size
    0.28 lot acres
    Property size
    6,660 SF
    Zone code
    R3
    Property type
    Apartment buildings
    APN
    261-15-085
    APU
    26115085

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,535,000
      ML approach
      $2,560,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,310,000
      6.5%
      $2,130,000
      7%
      $1,980,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,547,000
      Market price range: $1.85M - $3.55M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,525,000
      Current use
      WAREHOUSE, STORAGE
      $3,050,000
      Change: +21% Conversion: Difficult
      OFFICE BUILDING
      $2,400,000
      Change: -5% Conversion: Moderate
      RETAIL STORES
      $2,080,000
      Change: -18% 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
    -121.926
    Latitude
    37.336
    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
    $48,748
    $1,466,224
    $2,259,128
    $3,725,352
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      4.17 Acres

      754 The Alameda

      APARTMENT HOUSE (5+ UNITS) • 4.17 Acres
      754 The Alameda, San Jose, CA 95126-3164
      View Details
    • Value Estimation
      $5,580,000
      32,848 SF

      1336 Fruitdale Ave

      APARTMENT HOUSE (5+ UNITS) • 32,848 SF
      1336 Fruitdale Ave, San Jose, CA 95126-4029
      View Details
    • Value Estimation
      $11,305,000
      66,845 SF

      950 Meridian Ave

      APARTMENT HOUSE (5+ UNITS) • 66,845 SF
      950 Meridian Ave, San Jose, CA 95126-4079
      View Details
    • Value Estimation
      $7,240,000
      43,649 SF

      1624 The Alameda

      APARTMENT HOUSE (5+ UNITS) • 43,649 SF
      1624 The Alameda, San Jose, CA 95126-2317
      View Details
    • Value Estimation
      $1,100,000
      5,848 SF

      530 Willard Ave

      APARTMENT HOUSE (5+ UNITS) • 5,848 SF
      530 Willard Ave, San Jose, CA 95126-3328
      View Details
    • Value Estimation
      $13,275,000
      50,154 SF

      1566 Scott St

      APARTMENT HOUSE (5+ UNITS) • 50,154 SF
      1566 Scott St, San Jose, CA 95126-3272
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,811 SF

      San Jose Multifamily Investment

      8-Unit Apartment Building, High NOI
      907 Delbert Way, San Jose, CA 95126
      View Details
    • $4,408,456
      7,825 SF

      Leased Retail and Residential Investment

      Fully leased mixed-use property near downtown Willow Glen and San Jose.
      801-809 Lincoln Ave, San Jose, CA 95126
      View Details
    • $4,408,456
      7,825 SF

      Leased Retail and Residential Investment

      Fully leased mixed-use property near downtown Willow Glen and San Jose.
      803 Lincoln Ave, San Jose, CA 95126
      View Details
    • $2,880,000
      6,244 SF

      Mixed-Use Property Near Diridon Station

      Mixed-use property with retail, apartments, and a single-family home.
      32 Race St, San Jose, CA 95126
      View Details
    • Contact for pricing

      San Jose Hotel and Land

      Two-story, 55-room hotel with restaurant on 1.48-acre corner parcel.
      1860 The Alameda, San Jose, CA 95126
      View Details
    • $1,150,000

      San Jose Commercial Land Opportunity

      7,816 SF Lot, Redevelopment Potential
      909 Park Ave, San Jose, CA 95126
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      32,895 SF

      Retail Space in San Jose

      Retail space available in San Jose, California.
      1097 Leigh Ave, San Jose, CA 95126
      View Details
    • $1.80 SF/Yr
      4,252 SF

      San Jose Warehouse with Fenced Parking

      Warehouse space available now with fenced parking and roll-up door.
      810 Park Ave, San Jose, CA 95126
      View Details
    • Contact for pricing
      1,196 SF

      Retail Space on Park Avenue

      Retail space available for lease in San Jose, CA.
      1731-1749 Park Ave, San Jose, CA 95126
      View Details
    • $31 SF/Yr
      3,600 SF

      San Jose Retail Space - 1200 SF

      Prime San Jose storefront: 1200 sq ft, high ceilings, patio.
      973 Park Ave, San Jose, CA 95126
      View Details
    • $30 SF/Yr
      13,376 SF

      San Jose Office Space: 1038 Leigh Ave

      Prime San Jose Office, 1,049 SF Available
      1038 Leigh Ave, San Jose, CA 95126
      View Details
    • Contact for pricing
      2,039 SF

      Retail Space in Mixed-Use Development

      Retail space available in a mixed-use development with parking.
      1432 W San Carlos St, San Jose, CA 95126
      View Details
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    1844 Park Ave
    San Jose, CA 95126-1633
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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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