Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    116 Pine St Redwood City, CA 94063

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $3,495,000

    Ten renovated units near downtown Redwood City and Elko Yards.

    Property size:
    6,300 SF

    Property Features for 116 Pine St

    General Information

    Standard status
    Active
    Size
    6,300 SF

    Building Details

    Year built
    1953

    We can help!

    Listing Contact
    Steve Zirelli
    Source: Corcoran

    Listing Agency: CORNISH & CAREY COMMERCIAL Listing Agent: Steve Zirelli

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Renovated Redwood City Multifamily Property

    Located in downtown Redwood City, this property at 116 Pine St. features ten fully renovated units. The renovations include kitchens, baths, floors, doors, and electrical systems. The unit mix comprises three 2-bedroom, 1-bathroom units and seven 1-bedroom, 1-bathroom units. The property benefits from a WalkScore of 94. It is situated one block from the 8-acre Elko Yards development project. The investment offers immediate returns and strong in-place RUBS. The location provides close proximity to dining, shopping, and entertainment amenities in Downtown Redwood City. Redwood City, strategically positioned between San Francisco and San Jose, is a dynamic and rapidly growing city on the mid-Peninsula.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Redwood City
    County
    San Mateo
    State
    California
    Longitude
    -122.22271
    Latitude
    37.478752

    Nearby Similar for Sale

    • $600,000
      3,500 SF

      Redwood City Child Care Facility

      Existing child care facility with capacity for 57 children.
      1835 Valota Rd, Redwood City, CA 94061
      View Details
    • $1,595,000
      Pending

      Redwood City Income Property

      Two spacious units in Redwood City's Palm Park neighborhood.
      1029 Redwood Ave, Redwood City, CA 94061
      View Details
    • $3,990,000
      4,200 SF

      Redwood City Flex Space Available

      Flex space with parking, air conditioning, and modern amenities.
      730 Broadway St, Redwood City, CA 94063
      View Details
    • $5,426,300
      9,866 SF

      Redwood City Warehouse with Yard

      Industrial warehouse with gated yard and updated facade for sale.
      2566 Bay Rd, Redwood City, CA 94063
      View Details
    • $1,800,000

      Redwood City Specialty Property

      Specialty property available for sale in Redwood City, CA.
      42 Saint Marys Pl, Redwood City, CA 94063
      View Details
    • $1,499,995

      Redwood City Specialty Property

      Specialty property available for sale in Redwood City, CA.
      1522 Hudson St, Redwood City, CA 94061
      View Details
    • Contact for pricing
      9,060 SF

      Redwood City Retail Opportunity

      Retail property in Redwood City, California.
      2300 Broadway St, Redwood City, CA 94063
      View Details
    • Contact for pricing
      1,468 SF

      Redwood City Creative Office Space

      Converted home into office with collaboration space and garage.
      611 Middlefield Rd, Redwood City, CA 94063
      View Details
    • Contact for pricing
      3,569 SF

      Equipped Surgical Suites in Redwood

      Medical office with surgical suites, exam rooms, and imaging equipment.
      139 Arch St, Redwood City, CA 94062
      View Details
    • Contact for pricing
      5,362 SF

      Redwood City Corner Location

      High-profile corner location near mixed-use developments and Keiser Permanente.
      705 Veterans Blvd, Redwood City, CA 94063
      View Details
    • Contact for pricing
      2,430 SF

      Redwood City Automotive/Retail Opportunity

      Versatile property suitable for automotive, retail, or service businesses.
      2127 Middlefield Rd, Redwood City, CA 94063
      View Details
    • $9,980,000

      Redwood City Canyon Property

      Redwood City property available for sale.
      Canyon Rd, Redwood City, CA 94062
      View Details

    FAQs

    What type of property is this?
    Apartment building - Ten renovated units near downtown Redwood City and Elko Yards.
    Where is this apartment building located?
    The property is located at 116 Pine St Redwood City, CA.
    What is the asking price?
    The asking price for this property is $3,495,000.
    What are key features of this property?
    This property features: - Located one block from the $600,000,000 Elko Yards development project.; - WalkScore of 94.; - **10 fully renovated units** (kitchens, baths, floors, doors, electrical, etc.).
    (650) 224-3118
    Request Owner's contact information
    116 Pine St Redwood City, CA 94063
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    116 Pine St
    Redwood City, CA 94063
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    116 Pine St Redwood City, CA 94063
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Steve Zirelli
    (650) 224-3118 (650) 322-2600
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!