Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    3844 Monterey Hwy San Jose, CA 95111-3401
    Back to Search
    Property profile & analytics

    3844 Monterey Hwy, San Jose, CA 95111-3401

    View on Map
    • Strip malls
    • 14,151 SF
    • 2.20 lot acres
    Off-Market
    Property ID
    US09-3025770
    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.
    Value Estimations
    $2,415,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Strip malls

    Property Details for 3844 Monterey Hwy

    Year built
    1959
    Lot size
    2.20 lot acres
    Zone code
    C2H
    Property type
    Strip malls
    Property subtype
    Shopping centers
    APN
    497-07-027
    APU
    49707027

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    May 25, 2021 — 3840 Monterey Road LLC — Deed · related $3.6M · Pacific Premier Bank
    Aug 30, 2018 — 3840 Monterey Road LLC — Deed · related $3.8M · Wells Fargo Bk
    Aug 16, 2018 $7,695,000 3840 Monterey Rd LLC Bonnie Burdett Grant Deed $3.8M · Wells Fargo Bank NA
    Sep 11, 2015 — Jason J Noghrey Noghrey,jamshid Affidavit Of Death · related —
    Jan 14, 2015 — Noghrey,jamshid Trust Noghrey,jamshid Quit Claim Deed · related —
    Jan 7, 2015 — Jamshid Noghrey Noghrey,martha E Affidavit Of Death · related —
    Aug 24, 2006 — Jamshid Noghrey Derar Hawari Grant Deed —
    Aug 31, 2000 $2,700,000 Derar Hawari Gerald A Smith Trustee Grant Deed $2.1M · Gerald A Smith Trustee
    Feb 1, 1995 $750,000 Gerald A Smith Trustee El Rancho Properties Grant Deed $750k · Borel Bank & Trust
    — — Jamshid Noghrey — Deed Of Trust · related $2.9M · First Republic Bank
    — — Derar Hawari — Deed Of Trust · related $2.2M · Summit Bank
    — — 3840 Monterey Road LLC — Deed Of Trust · related $3.8M · Wells Fargo Bk
    — — Jamshid Noghrey — Deed Of Trust · related $3M · First Republic Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.839
    Latitude
    37.2824
    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
    2023
    $0.00
    $4,586,658
    $746,663
    $5,333,321
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      635 SF

      4152 Monterey Hwy

      SHOPPING CENTER, STRIP CENTER
      4152 Monterey Hwy, San Jose, CA 95111-3626
      View Details
    • Value Estimation
      $3,130,000
      17,500 SF

      2670 Monterey Hwy

      SHOPPING CENTER, STRIP CENTER
      2670 Monterey Hwy, San Jose, CA 95111-3050
      View Details
    • Value Estimation
      $3,355,000
      10,000 SF

      5278 Monterey Hwy

      SHOPPING CENTER, STRIP CENTER
      5278 Monterey Hwy, San Jose, CA 95111-4268
      View Details
    • Value Estimation
      $1,980,000
      10,860 SF

      4040 Monterey Hwy

      SHOPPING CENTER, STRIP CENTER
      4040 Monterey Hwy, San Jose, CA 95111-3600
      View Details
    • Value Estimation
      $4,660,000
      14,000 SF

      5272 Monterey Hwy

      SHOPPING CENTER, STRIP CENTER
      5272 Monterey Hwy, San Jose, CA 95111
      View Details
    • Value Estimation
      $5,380,000
      16,129 SF

      4142 Monterey Hwy

      SHOPPING CENTER, STRIP CENTER
      4142 Monterey Hwy, San Jose, CA 95111-3626
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      2,400 SF

      Established 7-Eleven Franchise Opportunity

      Profitable, turnkey 7-Eleven franchise in high-traffic San Jose location.
      602 Tully Rd, San Jose, CA 95111
      View Details
    • $4,600,000

      San Jose Multifamily Investment Opportunity

      14-unit multifamily community in San Jose, built in 1980.
      5390 Carryback Ave, San Jose, CA 95111
      View Details
    • $998,000
      1,282 SF

      San Jose Duplex Investment Opportunity

      Well-maintained duplex in San Jose with strong cash flow.
      3350-3352 Senter Rd, San Jose, CA 95111
      View Details
    • Contact for pricing
      7,200 SF

      San Jose Warehouse with Fenced Yard

      7,200 SF warehouse with offices and a large yard.
      85 Old Tully Rd, San Jose, CA 95111
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      New Food Court Ready Space

      Turnkey restaurant space in San Jose's vibrant retail corridor.
      2887 Senter Rd, San Jose, CA 95111
      View Details
    • Contact for pricing
      1,700 SF

      Retail Space on Tully Road

      Retail space available for rent in San Jose, CA.
      614 Tully Rd, San Jose, CA 95111
      View Details
    • Contact for pricing
      2,999 SF

      Retail Space in San Jose

      Retail spaces suitable for various businesses with ample parking.
      5302-5320 Monterey Rd, San Jose, CA 95111
      View Details
    • Contact for pricing
      16,415 SF

      Industrial Buildings with Office Space

      Two industrial buildings with office space available for lease.
      705 Tully Rd, San Jose, CA 95111
      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.
    3844 Monterey Hwy
    San Jose, CA 95111-3401
    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

    Thank You for Inquiry
    3844 Monterey Hwy, San Jose, CA, 95111
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!