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    Property profile & analytics

    2016 Frst Ave San Jose, CA 95128-4804

    • Office buildings
    • 8,310 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    Mar 19, 2025
    $2,425,000
    Value Estimations
    $3,455,000
    Show details
    Cap Rate Potential
    8%
    Office buildings
    Location Intelligence
    Property ID
    US09-3387912
    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

    • Heredia, Veronica, D, MD / Pediatrician / Medical Clinic
    • Margaret A Mahoney Inc / Physician
    • Blossom Pediatrics Care / Pediatrician / Medical Clinic
    • US Dermatology Medical Management / Physician / Medical Clinic
    • VERONICA HEREDIA, MD, A MEDICAL CORPORATION / Pediatrician / Medical Clinic

    Property Details for 2016 Frst Ave

    Year built
    1960
    Lot size
    0.46 lot acres
    Property size
    8,310 SF
    Zone code
    C1
    Property type
    Office buildings
    APN
    274-58-028
    APU
    27458028

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,875,000
      ML approach
      $3,765,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,195,000
      6.5%
      $4,795,000
      7%
      $4,455,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,447,000
      Market price range: $1.52M - $5.93M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $3,950,000
      Current use
      RETAIL STORES
      $4,600,000
      Change: +16% Conversion: Moderate
      WAREHOUSE, STORAGE
      $3,805,000
      Change: -4% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $3,680,000
      Change: -7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.933
    Latitude
    37.3266
    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
    $37,321
    $1,810,921
    $1,116,732
    $2,927,653
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.24 Acres

      154 Di Salvo Ave

      OFFICE BUILDING • 0.24 Acres
      154 Di Salvo Ave, San Jose, CA 95128-1716
      View Details
    • Value Estimation
      $2,960,000
      9,612 SF

      377 Daniel Way

      OFFICE BUILDING • 9,612 SF
      377 Daniel Way, San Jose, CA 95128-5120
      View Details
    • Value Estimation
      $1,295,000
      2,997 SF

      2100 Frst Ave

      OFFICE BUILDING • 2,997 SF
      2100 Frst Ave, San Jose, CA 95128-1422
      View Details
    • Value Estimation
      $1,035,000
      3,249 SF

      2397 Frst Ave

      OFFICE BUILDING • 3,249 SF
      2397 Frst Ave, San Jose, CA 95128-4600
      View Details
    • Value Estimation
      $645,000
      6,530 SF

      2435 Frst Ave

      OFFICE BUILDING • 6,530 SF
      2435 Frst Ave, San Jose, CA 95128-1595
      View Details
    • Value Estimation
      $13,700,000
      52,000 SF

      455 Oconnor Dr

      OFFICE BUILDING • 52,000 SF
      455 Oconnor Dr, San Jose, CA 95128-1633
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      5,836 SF

      San Jose Office Building

      Office building with 5,836 square feet of space.
      1050 South Bascom Ave, San Jose, CA 95128
      View Details
    • $799,000
      1,600 SF

      Medical/Professional Office Condo For Sale

      Medical/professional office condominium for sale near O'Connor Hospital.
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    • New
      Contact for pricing
      14,026 SF

      Affordable Office Suites Near Santana

      Well-located office suites with ample parking and modern amenities.
      3033 Moorpark Ave, San Jose, CA 95128
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    • $6,200,000
      11,035 SF

      San Jose Medical/Dental Building

      Fully leased medical/dental building near Santana Row and Valley Fair.
      373 S Monroe St, San Jose, CA 95128
      View Details
    • Contact for pricing
      1,644 SF

      San Jose Medical Office Space

      Medical office space for sale near Valley Fair in San Jose.
      2455 Forest Ave, San Jose, CA 95128
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      4,682 SF

      San Jose Office Space Available

      Office space for lease with possible medical office use.
      3097 Moorpark Ave, San Jose, CA 95128
      View Details
    • Contact for pricing
      5,767 SF

      Premier West Valley Office Building

      High-rise office building near Santana Row with panoramic views.
      3031 Tisch Way, San Jose, CA 95128
      View Details
    • Contact for pricing
      7,650 SF

      San Jose Office Space Available

      Office space available for rent in San Jose, California.
      355 South Daniel Way, San Jose, CA 95128
      View Details
    • Contact for pricing
      21,314 SF

      Office Suite on Santana Row

      Second floor office suite with private terrace and signage.
      367 Santana Hts, San Jose, CA 95128
      View Details
    • Contact for pricing
      9,410 SF

      San Jose Office Space Available

      Office space with board room, conference rooms, phone room.
      560 S Winchester Blvd, San Jose, CA 95128
      View Details
    • Contact for pricing

      CA, San Jose - Spaces San Jose - Santana Row

      Workspaces, services and support to help you grow your business in CA, San Jose - Spaces San Jose - Santana Row
      3031 Tisch Way, San Jose, CA 95128
      View Details
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    San Jose, CA 95128-4804
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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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