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Property profile & analytics
OFF-MARKET
Estimated value
$16,605,000
Office buildings
96 3rd St San Jose, CA 95112-7702
Entity Owned
13-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-2528963
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1986
Total area
72,000 SF
Lot
0.45 ac (19,413 SF)
Zoning code
CG
APN
467-20-068
UPID
US09-2528963
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
-
Room Addition & Adu Contractor San Jose Construction Company General Contractor
-
Cerri, Boskovich & Allard, LLP Law Firm
-
Law Office of Farling, Hecht & Davis, LLP Law Firm
-
Food & Drug Administration Government Office
-
The Law Office of John J. Garvey, III Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$17.63M
Blend (final)
Blend
$16.61M
Owner & transaction history
96 North Third Street LLC · 13 yrs held
96 North Third Street LLC
since 2012
2 recorded transactions
Zoning & alternative use
CG · San Jose, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$27.6M
+19.0%
Retail stores
$26.6M
+14.6%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$23,180,000
Current use
APARTMENT HOUSE (5+ UNITS)
$27,585,000
Change: +19% · Conversion: Easy
RETAIL STORES
$26,570,000
Change: +15% · Conversion: Moderate
Blend value · Realmo final
$16.61M
Range $14.94M – $18.27M · ±10%
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
$231 / 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
$189,581
Tax year 2024
Assessed value
$14,759,031
Assessed 2024
Previous assessed
$14,759,031
+0.0% YoY
Effective rate
1.28%
On assessed value
Assessed land
$1,690,193
Assessed improvement
$13,068,838
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1986
Heating
NONE
Cooling
NONE
Stories
6
Total area
72,000 SF
Lot
0.45 ac (19,413 SF)
Zoning code
CG
APN
467-20-068
UPID
US09-2528963
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.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$23.2M
APARTMENT HOUSE (5+ UNITS)
Est. value
$27.6M
RETAIL STORES
Est. value
$26.6M
OFFICE BUILDING Current
APARTMENT HOUSE (5+ UNITS)
RETAIL STORES
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
1986
Heating
NONE
Cooling
Yes
Stories
6
Lot
0.45 ac
Current owner
From public records · entity-resolved
96 North Third Street LLC
Entity
Free & Clear · 13 yrs held
Mailing address
777 N 1ST ST STE #600, SAN JOSE, CA 95112-6340
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2012
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 15, 2012
$790,000
96 North Third Street LLC
Park Place Venture
Grant Deed
—
—
—
96 North Third Street LLC
—
Deed Of Trust
related
$3,950,000 · Standard Insurance Co
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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