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Turnkey MOB & Lab Space Near Downtown 556 N 1st St

8,350 SF Vacant Office Building Online Auction Sale San Jose, CA 95112

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Virtual Tour

INVESTMENT HIGHLIGHTS

  • This renovated medical office building provides 4 turnkey suites, including 2 dental suites with lab space, ideal for investors or growing practices.
  • Tenants enjoy synergy with the Santa Clara Valley Medical Center, Regional Medical Center, and Good Samaritan Hospital, reachable in under 15 mins.
  • Operations are supported by a growing 3-mile population of more than 226,000 that provided consumer spending of over $2.9 billion during 2024.
  • Sitting just off the Guadalupe Pkwy (8,600 VPD), with connections to the 101, 280, and 880, the location offers convenient access to clients/staff.
  • Location receives elevated traffic from nearby demand drivers, including SJSU, San Jose Mineta Airport, and HQs for Abode, PayPal, and Nvidia.

EXECUTIVE SUMMARY

This extraordinary medical office building provides the perfect home for growing practices, with four renovated suites and quality modern features. Delivered vacant, the property allows for immediate occupancy or leasing, making it the perfect entry point for businesses and investors into the coveted San Jose market.

Built in 1961 and fully renovated in 2020, 556 N 1st Street offers contemporary fixtures across a total of 9,822 square feet. The building comprises four turnkey medical office suites, with two suites offering existing builds as dental practices, including dedicated laboratory space. All the suites boast attractive features, including floor-to-ceiling windows for robust natural light, rich plank flooring, recessed lighting, ADA restrooms, and unique points of entry with security gating. The building’s lot spans 0.23 acres and includes a gated parking lot with a total of 26 surface and covered spaces.

556 N 1st Street enjoys an advantageous position just off the Guadalupe Parkway at the gateway between the Japantown neighborhood, the Hensley Historic District, and Downtown San Jose. Direct frontage to N 1st Street provides robust brand exposure to businesses, with potential signage visible to more than 8,600 passing daily vehicles. The parkway provides easy access to the property across the greater metro, with convenient connections to the 101, 280, and 880 freeways. Public transportation is also readily available, with both the Japantown and Civic Center Station reachable within walking distance.

Medical businesses at 556 N 1st Street will benefit from placement near major demand drivers, quality retail amenities, and the city’s largest hospitals. The facility is centrally placed between the Santa Clara Valley Medical Center, the Regional Medical Center, and the Good Samaritan Hospital, providing over 1,500 beds within 15 minutes of the property. This elevated demand for quality medical services is a boon to synergistic practices at the subject property. Additional strong traffic is driven to the area by large surrounding corporate tenants, including the world headquarters for Adobe, PayPal, Goodwill Industries, and Nvidia.

Employees and patients at 556 N 1st Street can easily work dining and shopping into their routine, with locations for national retail brands including Target, Trader Joe’s, Costco, Sprouts Farmers Market, PetSmart, In-N-Out Burger, Chili’s, and Panera Bread, all reachable in just five minutes. Proximity to Downtown San Jose also provides easy access to the city’s hottest destinations, including the San Jose Museum of Art, the San Jose Convention Center, the San Jose Center for the Performing Arts, the SAP Center, and San Jose State University.

DATA ROOM Click Here to Access

MARKET ANALYTICS Click Here to Access

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Market Sale Price per SF

San Jose - CA USA

Market Cap Rate

San Jose - CA USA

Market Sale Price per SF by Star Rating

1 - 2 Star

3 Star

4 - 5 Star

Market Cap Rate by Star Rating

1 - 2 Star

3 Star

4 - 5 Star

Market Sale Price per SF Distribution

Market Cap Rate Distribution

PROPERTY FACTS

Sale Type
Investment
Sale Condition
Auction Sale
Type of Ownership
Fee Simple
Property Type
Office
Property Subtype
Medical
Building Size
8,350 SF
Building Class
C
Year Built
1961
Percent Leased
Vacant
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,175 SF
Building FAR
0.85
Lot Size
0.23 AC
Zoning
CP
Parking
26 Spaces (3.11 Spaces per 1,000 SF Leased)

AMENITIES

  • Bus Line
  • Commuter Rail
  • Signage
  • Central Heating
  • Plug & Play
  • Air Conditioning

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • CONDITION
  • AVAILABLE
  • 1st Fl-Ste 101
  • 2,350 SF
  • Office/Medical
  • Full Build-Out
  • Now

The rent is based on a Triple N contract. Please contact info@i-managements.com for more info. Fully furnished and dental plumbing for dental/medical office.

  • 1st Fl-Ste 102
  • 1,400 SF
  • Office/Medical
  • Full Build-Out
  • Now

Fully furnished space, perfect for a new dental or medical space.

  • 1st Fl-Ste 103
  • 1,700 SF
  • Office/Medical
  • Full Build-Out
  • Now

Furnished space, perfect for a new dental or medical space.

  • 2nd Fl-Ste 201
  • 2,900 SF
  • Office/Medical
  • Full Build-Out
  • Now

Furnished space, perfect for a new dental, medical or yoga space.

Space Size Space Use Condition Available
1st Fl-Ste 101 2,350 SF Office/Medical Full Build-Out Now
1st Fl-Ste 102 1,400 SF Office/Medical Full Build-Out Now
1st Fl-Ste 103 1,700 SF Office/Medical Full Build-Out Now
2nd Fl-Ste 201 2,900 SF Office/Medical Full Build-Out Now

1st Fl-Ste 101

Size
2,350 SF
Space Use
Office/Medical
Condition
Full Build-Out
Available
Now

1st Fl-Ste 102

Size
1,400 SF
Space Use
Office/Medical
Condition
Full Build-Out
Available
Now

1st Fl-Ste 103

Size
1,700 SF
Space Use
Office/Medical
Condition
Full Build-Out
Available
Now

2nd Fl-Ste 201

Size
2,900 SF
Space Use
Office/Medical
Condition
Full Build-Out
Available
Now

1st Fl-Ste 101

Size 2,350 SF
Space Use Office/Medical
Condition Full Build-Out
Available Now

The rent is based on a Triple N contract. Please contact info@i-managements.com for more info. Fully furnished and dental plumbing for dental/medical office.

1st Fl-Ste 102

Size 1,400 SF
Space Use Office/Medical
Condition Full Build-Out
Available Now

Fully furnished space, perfect for a new dental or medical space.

1st Fl-Ste 103

Size 1,700 SF
Space Use Office/Medical
Condition Full Build-Out
Available Now

Furnished space, perfect for a new dental or medical space.

2nd Fl-Ste 201

Size 2,900 SF
Space Use Office/Medical
Condition Full Build-Out
Available Now

Furnished space, perfect for a new dental, medical or yoga space.

Walk Score®
Very Walkable (84)
Bike Score®
Very Bikeable (89)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

DEMOGRAPHICS

Demographics

1 Mile 1 Mi. 3 Miles 3 Mi. 5 Miles 5 Mi.
1 Mile
3 Mile
5 Mile
2024 Population
32,109
226,516
649,148
2020 Population
30,142
233,296
680,089
2029 Population
31,595
218,823
624,841
2024-2029 Projected Population Growth
-1.6%
-3.4%
-3.7%
Daytime Employees
42,834
174,257
391,425
Total Businesses
3,771
18,980
38,320
Average Household Income
$141,490
$139,151
$150,369
Median Household Income
$110,663
$105,689
$120,530
Total Consumer Spending
$492.4M
$3B
$8.9B
Median Age
36.7
36.2
37.4
2024 Households
13,992
79,102
218,126
Percent College Degree or Above
27%
23%
23%
Average Home Value
$911,245
$921,979
$920,845

ZONING

Zoning Code CP
CP

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
249-43-083
Land Assessment
$825,173
Improvements Assessment
$2,149,659
Total Assessment
$2,974,832

SALE ADVISORS

SALE ADVISORS

(408) 421-4703
Contact
Andres Lopez, First Vice President Investments
(408) 421-4703
Contact
Since August 2013, Andres has proudly distinguished himself as an accomplished investment professional within the esteemed ranks of Marcus & Millichap. He possesses a deep understanding and comprehensive skill set in the realms of Multifamily, Net Leased, Industrial, and Land Development, spanning across the Bay Area and nationwide. Over the course of his career, Andres has adeptly facilitated commercial real estate transactions exceeding a cumulative value of $200,000,000.

Under the guidance of seasoned veterans at Marcus & Millichap, Andres has been mentored in the art of comprehending client perspectives and mastering the precise timing required to navigate and successfully conclude transactions. Prior to his venture into real estate, Andres steered and managed several multi-million-dollar operations affiliated with In-N-Out Burger. Remarkably, by the age of 19, a mere year after joining the company, he ascended to a top-tier management position, where he operated the stores with a sense of ownership. The skills and values cultivated by Andres since 2013 have proven to be invaluable to his clients. Their repeated engagements with him are a testament to the integrity and unwavering dedication he consistently channels into fulfilling their aspirations.

“I've consistently found satisfaction in safeguarding the wealth that investors entrust to real estate. My current focus revolves around assisting clients in the ongoing preservation of their wealth through strategic decisions involving the re-positioning of equity, repeatedly and effectively.”
(510) 304-8077
Contact
Robert Johnston, Senior Managing Director Investments
(510) 304-8077
Contact
Robert Johnston is an apartment investment specialist in the firm's founding Palo Alto office. As a Senior Managing Director, Robert exclusively represents buyers and sellers in the acquisition and disposition of multi-family and single-tenant retail properties throughout the country with a concentration in the Bay Area. Robert has established himself as a leading Bay Area apartment broker. Robert Johnston recently ranked as the #12 agent nationwide and consistently ranks as a top 40 agent nationwide (out of approximately 1800 M&M agents) and has been recognized as such in the Wall Street Journal.
He was top 5 Palo Alto Investment Professional in 2021, 2020 2019, 2017, 2016 and 2015 and a top 10 investment professional in 2014, 2013 & 2012. Robert received a Chairman's Circle of Excellence Award in 2021 & 2019, a Chairman's Club Award in 2020, 2018, 2017, 2016 and 2015 and National Achievement Awards in 2014-2020. Robert is an Executive Director of Marcus and Millichap's National Multi Housing Group. Robert Johnston is a member of the Silicon Valley Association of Realtors, MLS, LoopNet, Costar and Tri County Apartment Association. He graduated from Arizona State University in 2007 with a BS in Real Estate Development and in his spare time he enjoys traveling, golfing and spending time with family and friends.
(650) 492-0934
Contact
Adam Levin, Executive Managing Director Investments
(650) 492-0934
Contact
Adam Levin is an Executive Managing Director and the # 1 agent in the firm’s founding Palo Alto office. As the founder of the Levin Johnston Group of Marcus & Millichap, he exclusively represents buyers and sellers of investment properties throughout the country with a concentration on the Bay Area.

With more than 20 years of experience in the RE industry and over 800 successfully closed transactions valued at nearly $5 Billion, Adam Levin has established himself as the leading Bay Area apartment broker. Honored as CoStar Power Broker for the Bay Area from 2014 through the current year Adam Levin has successfully established himself as M&M's top Market-Rate Apartment agent in the country.

Adam was recognized in The Wall Street Journal as a Top 30 M&M Investment Professional Nationwide every year from 2013 through current year. He has received the exclusive Chairman’s Club Circle of Excellence award for NAA every year from 2013 on while remaining #1 in the Palo Alto office for the last four years and leading 2021 by a large margin.

Adam has achieved numerous other awards and distinctions, including the 2014-2020 CoStar Power Broker Award for Top Sales Broker in the South Bay/San Jose market, National Achievement Awards, Outstanding Sales Achievement Awards, Mentor of the Year, and the elite Palo Alto office Dealmaker Award for 2012-2020 which distinguishes the agent who closes the most transactions.

Adam is a member of the Silicon Valley Association of Realtors, MLS, Loopnet, Costar, Real Capital Markets, as well as the Tri County Apartment Association. He is also an Executive Director of NMHG and an active donator for the Housing Industry Foundation and ASPCA.

Adam graduated with a degree from UC Davis. He is an avid golfer and enjoys owning and managing a diverse portfolio of over 500 units in the Bay Area comprised of multi-family, retail, office, and self-storage properties.

ABOUT THE AUCTION PLATFORM

Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More

AUCTION CONTACT

Amen Almukhtar
Auctioneer License: Ten-X Jessica Figueroa RE Brkr 01937601. Ten-X Auction Surety Bond 106465786
  • Listing ID: 33235162

  • Date on Market: 3/13/2025

  • Last Updated:

  • Address: 556 N 1st St, San Jose, CA 95112

Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount Transaction Fee
$0m to < $1m 5.00% ($20,000 min)
$1m to < $3m 3.00%
$3m to < $5m 2.50%
$5m to < $10m 2.25%
$10m to < $15m 2.00%
$15m to < $25m 1.75%
$25m to < $35m 1.50%
$35M to < $45M 1.00%
$45M to < $55M 0.75%
$55M and Up 0.50%
Example Calculation
Winning Bid Amount $4,000,000 Transaction Fee $100,000 (2.5%) Total Purchase Price $4,100,000

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