320 3Rd StSan Jose, CA 95112

  • Office properties
  • 5,080 SF
For Sale
$2,500,000 View listing

Property Details for 320 3Rd St

Year built
1950
Construction
WOOD
Lot size
0.14 AC
Property size (Sq ft)
5,080 SF
Zone code
CG
Property type
Office properties
Property subtype
Office buildings
APN
467-45-029
APU
46745029

Description

This exceptional 5,080 square foot, two-story Class A medical office building is ideally situated in downtown San Jose, California, at 320 S 3rd St, zip code 95112. Currently vacant, this owner-user opportunity presents a unique chance to acquire a property zoned Downtown Primary Commercial (DC) in Santa Clara County. The building boasts ample onsite parking located behind the structure, a significant advantage in a bustling urban environment. Its versatile zoning allows for a variety of uses, including office, medical, retail, daycare, schools, personal services, veterinary clinics, and religious facilities (buyer to verify permitted uses with the City of San Jose). The property's prime location offers convenient access to a wealth of downtown restaurants and retail amenities, enhancing its appeal and potential for high occupancy. This investment is further enhanced by its location within an Opportunity Zone, presenting potential tax advantages. The asking price for this remarkable property is $2,500,000.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $1,556,008
    6.5%
    $1,436,315
    7%
    $1,333,721
  • Comparable approach

    Method
    Valuation
    Relative Method
    $1,416,863
    Geo Method
    $1,416,863
  • Alternative Use

    Use
    Valuation
    Residential
    $1,781,031
    Hospitality
    $1,631,415
    Educational
    $1,357,318
    Medical
    $1,403,998
    Retail
    $2,111,383
320 3Rd St, San Jose, California

Location Insight

City
San Jose
County
Santa Clara
State
California
Latitude
37.3322
Longitude
-121.884
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
$12,769
$329,671
$534,128
$863,799
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-
-
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