Office Building Steps From
For Sale
Contact for pricing
1134 Crane St, Menlo Park, CA 94025
Office building near downtown Menlo Park with steps access to two city parking lots.
Property Size9,100 SF
Price / SF$857.14
Days on Market188
Property Features for 1134 Crane St
General Information
Standard status
Active
Size
9,100 SF
Property subtype
OFFICE
Listing Agency:
Mahoney & Associates Commercial Real Estate
(831) 646-1919
Listed By:
Josh Jones · License #01352818
(831) 655-9206
Source:
Moodyscre
Added: Mar 9
Changed: Sep 9
Last Checked: Sep 12 at 10:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Mahoney & Associates Commercial Real Estate
Investment Insights
Based on property information with market context.
This office building at 1134 Crane St is positioned for both an owner/user and an investor. The property is located in the heart of downtown Menlo Park and is described as being steps from two city parking lots, supporting convenient day-to-day access.
The offering is also noted as being one block from Santa Cruz Avenue, placing it within close proximity to the area’s commercial activity.
The property presents as an office-focused asset and is available for sale.
The offering is also noted as being one block from Santa Cruz Avenue, placing it within close proximity to the area’s commercial activity.
The property presents as an office-focused asset and is available for sale.
Key Highlights
- Office building with steps access to two city parking lots
- Located in the heart of downtown Menlo Park
- One block from Santa Cruz Avenue
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$291,454
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,829,080
$5.8M
Cap Rate 7%
$4,163,629
$4.2M
Cap Rate 9%
$3,238,378
$3.2M
Market Conditions
NOI Build-Up for 9,100 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$500.1K $54.96/SF
− Vacancy
−$111.5K −$12.26/SF
EGI
$388.6K $42.70/SF
− OpEx
−$97.2K −$10.68/SF
NOI
$291.5K $32.03/SF
Area
San Mateo County, CA
Vacancy
22.30%
Lease Rate
$54.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,829,080
Cap Rate 7%
$4,163,629
Cap Rate 9%
$3,238,378
Alternative Uses
Best Use
Office B
$4.16M
$3.64M – $4.86M
NOI $291,454 @ 7.0% cap · market cap 3.74%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$7.23M
$6.32M – $8.43M
NOI $505,977 @ 7.0% cap · market cap 6.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,977
Businesses Nearby
Explore this area
Business Placement
Demographics for 94025, CA
42,354
Population
16,259
Households
2.6
Avg Household Size
39
Median Age
73%
College-Educated
94%
High-School Grad
8.4 sq mi
ZIP Area
5,042
Density / Sq Mi
$215,871
Median Household Income
$98,160
Median Earnings
$3,169
Median Rent
$2,000,001
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office building - Office building near downtown Menlo Park with steps access to two city parking lots.
Where is this office building located?
The property is located at 1134 Crane St Menlo Park, CA.
What is the asking price?
The asking price for this property is $7,800,000.
What are key features of this property?
This property features: Office building with steps access to two city parking lots; Located in the heart of downtown Menlo Park; One block from Santa Cruz Avenue
