Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    219 Meridian Ave San Jose, CA 95126-2904

    • Office buildings
    • 1,756 SF
    • 0.15 lot acres
    OFF-MARKET
    Last Sale
    Sep 17, 2021
    $615,000
    Value Estimations
    $580,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3003013
    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

    • Dr. Khosrow Mehrany, MD / Dermatologist
    • Dr. K. Mark Mehrany / Doctor

    Property Details for 219 Meridian Ave

    Year built
    1956
    Construction
    WOOD
    Lot size
    0.15 lot acres
    Property size
    1,756 SF
    Zone code
    C
    Property type
    Office buildings
    APN
    274-14-034
    APU
    27414034

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $460,000
      ML approach
      $485,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $716,000
      Market price range: $444k - $818k

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $635,000
      Current use
      WAREHOUSE, STORAGE
      $805,000
      Change: +27% Conversion: Difficult
      RETAIL STORES
      $550,000
      Change: -14% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.914
    Latitude
    37.3253
    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
    2022
    $0.00
    $415,626
    $347,390
    $763,016
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.23 Acres

      1038 Mckendrie St

      OFFICE BUILDING • 0.23 Acres
      1038 Mckendrie St, San Jose, CA 95126-1223
      View Details
    • Value Estimation by Request
      0.15 Acres

      134 Race St

      OFFICE BUILDING • 0.15 Acres
      134 Race St, San Jose, CA 95126-3042
      View Details
    • Value Estimation
      $1,140,000
      4,012 SF

      1666 The Alameda

      OFFICE BUILDING • 4,012 SF
      1666 The Alameda, San Jose, CA 95126-2204
      View Details
    • Value Estimation
      $940,000
      3,130 SF

      848 The Alameda

      OFFICE BUILDING • 3,130 SF
      848 The Alameda, San Jose, CA 95126-3119
      View Details
    • Value Estimation
      $2,700,000
      11,447 SF

      919 The Alameda

      OFFICE BUILDING • 11,447 SF
      919 The Alameda, San Jose, CA 95126-3135
      View Details
    • Value Estimation
      $1,510,000
      6,120 SF

      2145 The Alameda

      OFFICE BUILDING • 6,120 SF
      2145 The Alameda, San Jose, CA 95126-1141
      View Details

    Similar Nearby for Sale

    • $799,000

      Commercial Unit Near Santa Clara

      Commercial unit with offices, conference room, and convenient location.
      2021 The Alameda 275, San Jose, CA 95126
      View Details
    • $680,000
      857 SF

      Alameda Park Center Office Condo

      San Jose Office Suite - $680,000
      2021 The Alameda, San Jose, CA 95126
      View Details
    • $428,888
      850 SF

      San Jose Office Condo For Sale

      Office condo in prime location, ideal for owner-users or investors.
      The Alameda, San Jose, CA 95126
      View Details
    • $468,888
      850 SF

      Prime Office Condo For Sale

      Office condo in prime location, ideal for owner-users or investors.
      2021 The Alameda, San Jose, CA 95126
      View Details
    • $895,000
      832 SF

      San Jose Commercial Property

      Versatile property with office, storage, and convenient location.
      Josefa 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

    Similar Nearby for Lease

    • Contact for pricing
      4,645 SF

      San Jose Office Building ForRent

      Two-story office building in central San Jose location.
      1401 Parkmoor Ave, San Jose, CA 95126
      View Details
    • $2 SF/Yr
      3,875 SF

      Freestanding Historical Office Building

      Two-story, restored historical office building with modern amenities for rent.
      1694 The Alameda, 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
    • $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
    • Contact for pricing
      906 SF

      Professional Office Space Available

      Upgraded office space near major transportation and amenities.
      1042 W Hedding St, San Jose, CA 95126
      View Details
    • $43 SF/Yr
      2,176 SF

      San Jose Office Space Available

      Historical building with Class A office interiors and ample parking.
      1960 The Alameda, San Jose, CA 95126
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    219 Meridian Ave
    San Jose, CA 95126-2904
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.