Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Downtown Palo Alto Office Space Title is generated by Realmo AI

    124 University Ave, Palo Alto, CA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space in downtown Palo Alto, available immediately.

    Type:OFFICE
    Property size:
    5,129 SF
    Lot size:
    0.14 Acres
    Added:
    Jan 23, 2023
    Days on Market:
    1204
    Last Refresh:
    Apr 5 at 10:03 pm

    Property Features for 124 University Ave

    General Information

    Standard status
    Active
    Size
    5,129 SF
    Lot size
    0.14 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 124 University Ave Contact us

    We can help!

    Listing Contact
    Brad Ehikian
    Brad Ehikian

    Listing agent Brad Ehikian

    Listing office Premier Property Management

    Listing date Jan 23, 2023

    Source Moodyscre

    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 Premier Property Management

    HighLights

    • Prime downtown Palo Alto location
    • Entire second and third floors, offering substantial space
    • Divisible floors providing flexible layout options
    • Private ground floor entrance on University Ave
    • One block from Caltrain station
    • Private restrooms on both floors

    Overview

    This office space is ideally located in downtown Palo Alto, offering a private ground floor entrance on University Avenue. The elevator-served suite occupies the entire second and third floors, totaling 5,129 square feet. The space is divisible to approximately 5,376 square feet on the second floor and approximately 5,009 square feet on the third floor. The layout features a mix of open areas and private conference rooms. The third floor includes a large kitchenette and break room, while the second floor has a smaller kitchenette. Private restrooms are available on both floors. The property is situated one block from the Caltrain station and is surrounded by downtown restaurants and amenities. The space is available immediately.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Proper Hour Handyman ... Hardware & Home Improvement Cardtronics ATM Atm E*TRADE FINANCIAL Bank

    Suggested Use

    Law Firm Real Estate Agency 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
    Palo Alto
    County
    Santa Clara
    State
    California
    Longitude
    -122.164
    Latitude
    37.4437

    Nearby Similar for Lease

    • $43,601 SF/Yr

      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

      Prime Midtown Palo Alto Retail

      Retail/service space in Palo Alto's Midtown neighborhood.
      706 Colorado Ave, Palo Alto, CA 94303
      View Details
    • $2 SF/Yr

      Palo Alto Flex Space

      Versatile 14,318 SF space ideal for various businesses.
      3780 Fabian Way, Palo Alto, CA, 94303
      View Details
    • Contact for pricing

      CA, Palo Alto - Page Mill Rd

      425 Page Mill Rd, Palo Alto, CA 94306
      View Details
    • Sponsored
      Contact for pricing

      4 Palo Alto Square

      3000 El Camino Real, Unit 4, Palo Alto, CA 94306
      View Details
    • Contact for pricing

      Embarcadero Place

      2100 Geng Rd, Unit 210, Palo Alto, CA 94303
      View Details
    • Contact for pricing

      Hamilton Avenue

      228 Hamilton Ave, Unit 3RD, Palo Alto, CA 94301
      View Details
    • $7 SF/Yr

      Renovated Office Space in Palo Alto

      Furnished 7th-floor office with Silicon Valley views, available for rent.
      5 Palo Alto Sq, Palo Alto, CA
      View Details
    • Contact for pricing

      Prime Retail Space on California Avenue

      High-visibility retail space in Palo Alto's coveted commercial district.
      490 California Avenue, Palo Alto, CA, 94306
      View Details
    • $3 SF/Yr

      Furnished Office Space Available

      Furnished office space featuring private offices, conference room, and breakroom.
      960 San Antonio Rd, Palo Alto, CA
      View Details
    • Contact for pricing

      Palo Alto Lab Space Available

      Turn-key lab/office suites with shared utilities for lease.
      3350 W Bayshore Rd, Palo Alto, CA 94303
      View Details
    • $6 SF/Yr

      Freestanding Office/Tech/Medical Space Available

      Freestanding office/tech/medical space available March 1, 2023.
      450 Sheridan Ave, Palo Alto, CA 94306
      View Details

    FAQs

    What type of property is this?
    Office units - Office space in downtown Palo Alto, available immediately.
    Where is this office units located?
    The property is located at 124 University Ave Palo Alto, CA.
    What is the lease rate?
    The lease rate is $4 SF/Yr.
    What are key features of this property?
    This property features: Prime downtown Palo Alto location; Entire second and third floors, offering substantial space; Divisible floors providing flexible layout options
    (650) 618-3000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Brad Ehikian
    Brad Ehikian
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Thank You for Inquiry
    124 University Ave, Palo Alto, CA
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!