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Property profile & analytics
FOR LEASE
Office buildings
2121 Alexian Dr San Jose, CA 95116
Individually Owned
5-yr Hold
Free & Clear
Property ID
US09-2762658
For Lease
1 / 8
$9,740,000
2121 Alexian Dr, San Jose, CA 95116
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2022
Construction
TILT-UP CONCRETE
Total area
30,100 SF
Lot
1.77 ac (76,950 SF)
Zoning code
C
APN
481-06-037
UPID
US09-2762658
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
Current use
Occupant on record · Public records
-
Satellite Healthcare East San Jose Medical Clinic
-
SAMI A. MAZBAR Physician Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$12.61M
Blend (final)
Blend
$9.74M
Owner & transaction history
Margaret T Ludwig · 5 yrs held
Margaret T Ludwig
since 2021
2 recorded transactions
Zoning & alternative use
C · San Jose, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$13.8M
+41.1%
Apartment house (5+ units)
$12.8M
+31.1%
Retail stores
$10.9M
+11.4%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$9,760,000
Current use
WAREHOUSE, STORAGE
$13,775,000
Change: +41% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$12,790,000
Change: +31% · Conversion: Easy
RETAIL STORES
$10,870,000
Change: +11% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$8,890,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$9.74M
Range $8.77M – $10.71M · ±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
$324 / 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
$190,712
Tax year 2024
Assessed value
$12,433,539
Assessed 2024
Previous assessed
$12,433,539
+0.0% YoY
Effective rate
1.53%
On assessed value
Assessed land
$520,959
Assessed improvement
$11,912,580
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
2022
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Stories
2
Units
6
Total area
30,100 SF
Lot
1.77 ac (76,950 SF)
Zoning code
C
APN
481-06-037
UPID
US09-2762658
Jurisdiction
SANTA CLARA
Zoning & alternative use
C · San Jose, CA
Zoning C · permitted uses
C · 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
OFFICE BUILDING Current
Est. value
$9.8M
WAREHOUSE, STORAGE
Est. value
$13.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$12.8M
RETAIL STORES
Est. value
$10.9M
INDUSTRIAL (GENERAL)
Est. value
$8.9M
OFFICE BUILDING Current
WAREHOUSE, STORAGE
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
2022
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Units
6
Lot
1.77 ac
Current owner
From public records · entity-resolved
Margaret T Ludwig
Individual
Free & Clear · 5 yrs held
Mailing address
300 SANTANA ROW STE #300, SAN JOSE, CA 95128-2424
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2021
—
Margaret T Ludwig
James B Ludwig
Affidavit Of Death
related
—
Mar 31, 1998
—
Jeffries Trust
2121 Alexian Drive Partners
Quit Claim 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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