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Property profile & analytics
FOR LEASE
Life science properties
5521 Hellyer Ave, San Jose, CA 95138
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-2015491
For Lease
1 / 2
Contact for pricing
5521 Hellyer Ave, San Jose, CA 95138
View Listing →
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1996
Construction
WOOD FRAME
Total area
203,783 SF
Lot
11.9 ac (518,364 SF)
Zoning code
IPB
APN
679-01-005
UPID
US09-2015491
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
-
Velodyne Lidar, Inc. (San Jose) Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$58.84M
Blend (final)
Blend
$51.13M
Owner & transaction history
Laser Landlord Ca LP · 5 yrs held
Laser Landlord Ca LP
since 2021
Last sale
$51.4M
7 recorded transactions
Zoning & alternative use
IPB · San Jose, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$80.0M
+43.1%
Apartment house (5+ units)
$74.6M
+33.5%
Industrial (general)
$60.2M
+7.6%
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
$42,825,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL
$55,925,000
Current use
OFFICE BUILDING
$80,030,000
Change: +43% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$74,630,000
Change: +33% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$60,180,000
Change: +8% · Conversion: Difficult
Blend value · Realmo final
$51.13M
Range $46.02M – $56.24M · ±10% · vs last sale $51.43M (May 14 2021)
Last sale anchor
$51.43M
May 14 2021
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
$251 / 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
$692,040
Tax year 2024
Assessed value
$54,577,312
Assessed 2024
Previous assessed
$54,577,312
+0.0% YoY
Effective rate
1.27%
On assessed value
Assessed land
$12,097,771
Assessed improvement
$42,479,541
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 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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
For Lease
Year built
1996
Construction
WOOD FRAME
Heating
NONE
Cooling
YES
Stories
2
Units
1
Total area
203,783 SF
Lot
11.9 ac (518,364 SF)
Zoning code
IPB
APN
679-01-005
UPID
US09-2015491
Jurisdiction
SANTA CLARA
Zoning & alternative use
IPB · San Jose, CA
Zoning IPB · permitted uses
IPB · 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
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL Current
Est. value
$55.9M
OFFICE BUILDING
Est. value
$80.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$74.6M
INDUSTRIAL (GENERAL)
Est. value
$60.2M
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL Current
OFFICE BUILDING
APARTMENT HOUSE (5+ UNITS)
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
1996
Construction
WOOD FRAME
Heating
NONE
Cooling
Yes
Stories
2
Units
1
Lot
11.9 ac
Current owner
From public records · entity-resolved
Laser Landlord Ca LP
Entity
Free & Clear · 5 yrs held
Mailing address
395 9TH AVE FL, NEW YORK, NY 10001-8600
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 14, 2021
$51,429,500
Laser Landlord Ca LP
Hellyer Dmhall Properties LLC
Grant Deed
—
Dec 31, 2019
—
Hellyer-dmhall Properties LLC
—
Deed
related
$15,000,000 · First Bk
Mar 30, 2017
—
Hellyer Dmhall Properties LLC
—
Deed
related
$15,000,000 · First Bank
Dec 30, 2016
$23,440,000
Hellyer-dmhall Properties LLC
M West Propco-5521 Hellyer LLC
Grant Deed
—
Dec 10, 2015
—
M West Propco-5521 Hellyer LLC
M West Propco Ix LLC
Quit Claim Deed
—
Dec 26, 2012
$20,486,500
M West Propco Ix LLC
Mission West Properties INC
Deed Of Trust
$156,400,000 · Bank Of America
Dec 24, 2012
$8,399,000
Mission West Properties INC
Mission West Properties LP
Grant Deed
—
Feb 23, 2005
—
West Properties LP I Mission
Cisco Systems INC
Grant Deed
—
Jan 5, 2001
—
Cisco Systems INC
Mission West Properties LP
Grant Deed
related
—
—
—
M West Propco Ix LLC
—
Loan Modification
related
$259,793,648 · Bank Of America
—
—
Hellyer-dmhall Properties LLC
—
Loan Modification
related
$15,000,000 · First Bk
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.
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