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Property profile & analytics
OFF-MARKET
Estimated value
$9,895,000
Community centers
2155 Morrill Ave San Jose, CA 95132-1130
Entity Owned
11-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-3080732
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1971
Total area
59,754 SF
Lot
5.51 ac (240,015 SF)
Zoning code
CG
APN
092-09-010
UPID
US09-3080732
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
-
Wowza Photography Photography Service (Bike/Boat/Book/etc) Store
-
Target Grocery Grocery & Convenience Store Food Market
-
Target Mobile Mobile Phone Store Electronics & Wireless Store
-
Target Department Store
-
Starbucks Cafe & Coffee Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.90M
Owner & transaction history
Vrrp San Jose 2 LLC · 11 yrs held
Vrrp San Jose 2 LLC
since 2015
7 recorded transactions
Zoning & alternative use
CG · San Jose, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$166 / 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
$174,349
Tax year 2024
Assessed value
$13,184,836
Assessed 2024
Previous assessed
$13,184,836
+0.0% YoY
Effective rate
1.32%
On assessed value
Assessed land
$10,143,241
Assessed improvement
$3,041,595
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
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1971
Heating
NONE
Cooling
YES
Stories
1
Units
1
Total area
59,754 SF
Lot
5.51 ac (240,015 SF)
Zoning code
CG
APN
092-09-010
UPID
US09-3080732
Jurisdiction
SANTA CLARA
Zoning & alternative use
CG · San Jose, CA
Zoning CG · permitted uses
CG · 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.
Building & site characteristics
From public records
Year built
1971
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
5.51 ac
Current owner
From public records · entity-resolved
Vrrp San Jose 2 LLC
Entity
Mailing address
18300 VON KARMAN AVE #850, IRVINE, CA 92612-1057
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 12, 2024
—
Vrrp San Jose 2 LLC
—
Deed
related
$15,600,000 · First Citizens Bank & Trust Co
Jun 3, 2015
$2,555,000
Vrrp San Jose 2 LLC
Vrrp San Jose Eat LP
Grant Deed
—
Feb 28, 2014
$18,250,000
Vrrp San Jose 1 LLC
Cheng Jensen & J Trust
Grant Deed
$13,687,500 · Ladder Cap Fin
Apr 30, 2010
—
Jensen F Cheng
Cheng Betty L Living Trust
Quit Claim Deed
related
—
May 15, 2006
—
Jensen F Cheng
Cheng,betty L
Affidavit Of Death
related
—
Nov 25, 1998
—
Cheng Trust
Northwood Square LP
Grant Deed
$5,200,000 · Usg Annuity & Life Co
—
—
Cheng,jensen & Jade Trust
—
Deed Of Trust
related
$2,550,000 · Far East National Bank
—
—
Square Northwood
—
Deed Of Trust
related
$5,000,000 · Teachers Annuity
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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