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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    614 Tully Rd San Jose, CA 95111-1048

    • Office buildings
    • 25,632 SF
    • 1.77 lot acres
    OFF-MARKET
    Last Sale
    Jan 24, 2024
    $13,200,000
    Value Estimations
    $13,180,000
    Show details
    Cap Rate Potential
    7.3%
    Office buildings
    Location Intelligence
    Property ID
    US09-1741036
    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

    • Dinh Chu / Social Worker
    • Narvaez Public Health Nursing Regional Services / Public Health Department
    • Ritha Canales Rossi, LCSW / Social Worker
    • Juan Vasquez / Social Worker
    • Sukhdeep Ahuja / Psychiatrist

    Property Details for 614 Tully Rd

    Year built
    1980
    Construction
    WOOD
    Lot size
    1.77 lot acres
    Property size
    25,632 SF
    Zone code
    C
    Property type
    Office buildings
    APN
    497-41-005
    APU
    49741005

    Description

    This exceptional 1,700-square-foot retail space is available for lease at 614 Tully Road in San Jose, California. Located in Santa Clara County, this single-tenant property presents a fantastic opportunity for businesses seeking a prominent location within a thriving community. The entire 1,700 square feet is currently vacant, offering a blank canvas for a new tenant to customize the space to perfectly suit their operational needs. The property's address is 614 Tully Rd, San Jose, CA 95111, providing easy access for customers and employees alike. The property is classified as retail commercial real estate, making it ideal for a wide range of businesses. Its single-tenant occupancy ensures exclusive use and control of the entire space. This presents a unique opportunity for a business to establish a strong presence in a desirable area of San Jose. The property's location offers excellent visibility and accessibility, contributing to its high potential for attracting customers. Interested parties are encouraged to inquire further to explore the possibilities of establishing their business in this prime retail location. The property is ready for immediate occupancy, allowing for a swift and efficient start to operations. This is a rare opportunity to secure a significant retail space in a highly sought-after area of San Jose.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $13,200,000
      ML approach
      $13,200,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $16,030,000
      6.5%
      $14,795,000
      7%
      $13,740,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $11,453,000
      Market price range: $6.59M - $16.4M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $10,065,000
      Current use
      RETAIL STORES
      $12,260,000
      Change: +22% Conversion: Moderate
      WAREHOUSE, STORAGE
      $11,730,000
      Change: +17% Conversion: Difficult
      INDUSTRIAL (GENERAL)
      $11,165,000
      Change: +11% Conversion: Difficult
      APARTMENT HOUSE (5+ UNITS)
      $9,385,000
      Change: -7% Conversion: Easy

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

    Location Insight

    • Map
    • Local Demand
    City
    San Jose
    County
    Santa Clara
    State
    California
    Longitude
    -121.846
    Latitude
    37.3081
    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
    2024
    $194,914
    $6,615,485
    $7,112,238
    $13,727,723
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $330,000
      1,250 SF

      88 Tully Rd Ste, Unit 101

      OFFICE BUILDING • 1,250 SF
      88 Tully Rd Ste, San Jose, CA 95111-1923
      View Details
    • Value Estimation
      $260,000
      1,250 SF

      88 Tully Rd Ste, Unit 107

      OFFICE BUILDING • 1,250 SF
      88 Tully Rd Ste, San Jose, CA 95111-1923
      View Details
    • Value Estimation
      $335,000
      1,322 SF

      88 Tully Rd Ste, Unit 113

      OFFICE BUILDING • 1,322 SF
      88 Tully Rd Ste, San Jose, CA 95111-1923
      View Details
    • Value Estimation
      $270,000
      4,048 SF

      5300 Monterey Hwy

      OFFICE BUILDING • 4,048 SF
      5300 Monterey Hwy, San Jose, CA 95111
      View Details
    • Value Estimation
      $405,000
      8,520 SF

      370 Umbarger Rd

      OFFICE BUILDING • 8,520 SF
      370 Umbarger Rd, San Jose, CA 95111-2033
      View Details
    • Value Estimation
      $270,000
      1,250 SF

      88 Tully Rd Ste, Unit 106

      OFFICE BUILDING • 1,250 SF
      88 Tully Rd Ste, San Jose, CA 95111-1923
      View Details

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      Retail Space in San Jose

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      Retail Space on Tully Road

      Retail space available for rent in San Jose, CA.
      614 Tully Rd, San Jose, CA 95111
      View Details
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    614 Tully Rd
    San Jose, CA 95111-1048
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    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
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