750 Story Rd
Selling the land, not the building.
With under 6% building coverage, the 9,732 SF of improvements were incidental — the real value lived in 3.9 acres of fenced, centrally located San Jose industrial land.
Positioned the offering for owner-users, industrial outdoor storage (IOS) operators, and investors chasing scarce close-in yard along the Highway 101 and 280 corridors.
Marketed the fenced yard itself as the product in a submarket where close-in, secure outdoor storage land is nearly irreplaceable.
Sold to a developer for $15,750,000 — well above what a conventional, building-based pricing approach would have produced for this asset.
Deal specifics
Why land value beat building value here
Most brokers would have priced 750 Story Rd off its 9,732 SF building — a modest structure on a large parcel. That approach undersells assets like this one: with coverage under 6%, the building was never the point.
We underwrote the land itself, targeted the buyer types who pay for yard rather than square footage, and let three competing demand pools — owner-users, IOS operators, and 101/280 corridor investors — set the price. The result: roughly $4.0M per acre for fenced industrial land that is nearly impossible to replace this close to the freeway system.
Recent sales from the same team.
See what a targeted campaign and a real best-and-final process could do for your property.
Want a result like this one?
jida@lee-associates.com
Brendan Gallagher — (760) 846-1736
242 California St, San Francisco, CA 94111