Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    670 Gilman St Palo Alto, CA 94301

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $8 SF/Yr ($1,915 /Mo)

    Modern office with open layout in historic Palo Alto building.

    Property size:
    2,704 SF
    Lot size:
    0.26 Acres

    Property Features for 670 Gilman St

    General Information

    Size
    2,704 SF
    Lot size
    0.26 Acres

    We can help!

    Listing Contact
    Brad Ehikian
    Brad Ehikian
    Source: Moodyscre

    Listing Agent: Brad Ehikian

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

    Learn more

    Overview

    Downtown Palo Alto Office Space

    This ground floor office space, encompassing approximately 2,704 square feet, is situated in downtown Palo Alto. The interior features a modern design with a large, open layout and impressive ceiling height. The space includes two glass-walled conference or meeting rooms, as well as a private entrance on Forest Avenue. It is located in a Palo Alto historic building and includes an in-suite kitchenette and restrooms. The property is adjacent to downtown restaurants and amenities and is within walking distance of the CalTrain station. The space will be available starting September 1, 2025.
    Location Intelligence

    Current Use by Public Records

    Office space

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Food Market Clothing Store Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Palo Alto
    County
    Santa Clara
    State
    California
    Longitude
    -122.1588918
    Latitude
    37.4448875

    Nearby Similar for Lease

    • $450 /Mo

      Downtown Ventura Single Office Space

      Single office for rent in downtown Ventura, available now.
      1056 East Meta St, Ventura, CA 93001
      View Details
    • $43,601
      6,014 SF

      Prime Palo Alto Commercial Space

      Downtown Palo Alto retail/office/restaurant space with high foot traffic.
      353 University Ave, Palo Alto, CA 94301
      View Details
    • Contact for pricing
      3,365 SF

      Ventura Office Space Available

      Two-story office building with on-site management in Ventura, CA.
      1000 South Hill Rd, Ventura, CA 93003
      View Details
    • Contact for pricing
      7,448 SF

      Ventura Office Space Available

      Three-story office building in a seven-building campus.
      1001 Partridge Dr, Ventura, CA 93003
      View Details
    • Contact for pricing

      Ventura Office Campus for Lease

      Two-story office building with on-site amenities and convenient freeway access.
      6633 Telephone Rd, Ventura, CA 93003
      View Details
    • Contact for pricing

      Ventura Office Space Available

      One-story office building in a seven-building office campus.
      6555 Telephone Rd, Ventura, CA 93003
      View Details
    • $66 SF/Yr
      1,764 SF

      Retail Space in Palo Alto

      Prime retail space in a vibrant Palo Alto shopping center.
      833-855 El Camino Real, Palo Alto, CA 94301
      View Details
    • $7 SF/Yr
      13,618 SF

      Class A Office Space Available

      Prestigious campus with modern amenities near Stanford Research Park.
      2 Palo Alto Sq, Palo Alto, CA 94306
      View Details
    • Contact for pricing
      14,112 SF

      Ventura Office & Retail Space

      Prime Ventura location, flexible suites available
      250 Ml Rd, Ventura, CA 93003
      View Details
    • $0.95 SF/Yr
      10,800 SF

      Ventura Industrial Project Near Freeway

      Two-building industrial project in Ventura with freeway access.
      3036-3112 Seaborg Ave, Ventura, CA 93003
      View Details
    • $21 SF/Yr
      64,134 SF

      Eastman Avenue Office Complex

      Ventura Office/Warehouse Space Available
      1923 Eastman Ave, Ventura, CA 93003
      View Details
    • Contact for pricing
      5,600 SF

      Palo Alto Office Space Available

      Flexible office spaces with expansion options, close to Caltrain.
      550 California Ave, Palo Alto, CA 94301
      View Details

    FAQs

    What type of property is this?
    Office space - Modern office with open layout in historic Palo Alto building.
    Where is this office space located?
    The property is located at 670 Gilman St Palo Alto, CA.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    What are key features of this property?
    This property features: - Excellent Downtown Palo Alto Location; - **±2,704 Sq. Ft. Ground Floor Office**; - Walking Distance to CalTrain Station
    (650) 618-3000
    Request Owner's contact information
    670 Gilman St Palo Alto, CA 94301
    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.
    670 Gilman St
    Palo Alto, CA 94301
    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
    670 Gilman St Palo Alto, CA 94301
    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
    Brad Ehikian
    Brad Ehikian
    (650) 618-3000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.