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    Property profile & analytics

    998 Park Ave San Jose, CA 95126-3034

    • Office buildings
    • 3,935 SF
    • 0.20 lot acres
    OFF-MARKET
    Last Sale
    Apr 30, 2024
    Value Estimations
    $965,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3040035
    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

    • Advance Design Consultants, Inc. / Engineering Consultant
    • ADC Construction Management, Inc. / Construction Company

    Property Details for 998 Park Ave

    Year built
    1962
    Construction
    WOOD
    Lot size
    0.20 lot acres
    Property size
    3,935 SF
    Zone code
    G
    Property type
    Office buildings
    APN
    261-40-103
    APU
    26140103

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $993,000
      Market price range: $994k - $1.83M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $1,420,000
      Current use
      RETAIL STORES
      $1,230,000
      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
    -121.909
    Latitude
    37.3259
    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
    $10,869
    $323,960
    $504,783
    $828,743
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.07 Acres

      1127 Campbell Ave

      OFFICE BUILDING • 0.07 Acres
      1127 Campbell Ave, San Jose, CA 95126-1004
      View Details
    • Value Estimation by Request
      0.23 Acres

      1030 Mckendrie St

      OFFICE BUILDING • 0.23 Acres
      1030 Mckendrie St, San Jose, CA 95126-1223
      View Details
    • Value Estimation by Request
      0.23 Acres

      San Jose, CA 95126

      OFFICE BUILDING • 0.23 Acres
      San Jose, CA 95126
      View Details
    • Value Estimation
      $1,955,000
      6,509 SF

      1625 The Alameda Ste, Unit 900

      OFFICE BUILDING • 6,509 SF
      1625 The Alameda Ste, San Jose, CA 95126-2225
      View Details
    • Value Estimation
      $1,985,000
      6,611 SF

      1625 The Alameda Ste, Unit 400

      OFFICE BUILDING • 6,611 SF
      1625 The Alameda Ste, San Jose, CA 95126-2230
      View Details
    • Value Estimation
      $1,895,000
      6,326 SF

      1625 The Alameda Ste, Unit 600

      OFFICE BUILDING • 6,326 SF
      1625 The Alameda Ste, San Jose, CA 95126-2224
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,938 SF

      Office Building with Signage

      Office building offering parking and signage opportunities in San Jose.
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    • $1,299,999
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      Freestanding Office Building in Rose Garden

      Updated 1,534 SF office building in desirable Rose Garden.
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      Midtown Mixed-Use Opportunity

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    • $680,000
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      Alameda Park Center Office Condo

      San Jose Office Suite - $680,000
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    • $428,888

      San Jose Office Condo For Sale

      Office condo in prime location, ideal for owner-users or investors.
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    • $428,888
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      San Jose Office Condo For Sale

      Office condo in prime location, ideal for owner-users or investors.
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    Similar Nearby for Lease

    • Contact for pricing
      8,544 SF

      San Jose Office Building ForRent

      Two-story office building in central San Jose location.
      1401 Parkmoor Ave, San Jose, CA 95126
      View Details
    • Contact for pricing
      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
    • Contact for pricing
      4,500 SF

      San Jose Office Space Available

      Office space available for rent in San Jose, California.
      1085 The Alameda, San Jose, CA 95126
      View Details
    • Contact for pricing
      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
    • $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
    • $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
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    998 Park Ave
    San Jose, CA 95126-3034
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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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