Medical Office Space For
For Sale
$4,704,500
412 West El Camino Real, Mountain View, CA 94040
Medical office space surrounded by hospitals and medical centers.
Property Size8,426 SF
Lot Size0.56 Acres
Price / SF$558.33
Days on Market151
Property Features for 412 West El Camino Real
General Information
Standard status
Active
Size
8,426 SF
Lot size
0.56 Acres
Property subtype
Office
Listing Agency:
CBRE
(408) 453-7443
Listed By:
Paul Lyles · License #01236021
(408) 453-7443
Source:
Cbre
Added: Mar 25
Changed: Jul 6
Last Checked: Aug 22 at 6:41AM
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 CBRE
Investment Insights
Based on property information with market context.
This commercial property, suitable for medical office space, is located near several hospitals and medical centers. The property features enhanced "Med Spa" interiors. It occupies a lot size of 0.56 acres and is equipped with a 600 Amp 3-Phase electrical system. The building has an upgraded water supply, roof, and HVAC system. The property size is 8426 square feet.
Key Highlights
- Enhanced "Med Spa" Interiors
- Surrounded by half‑dozen hospitals and medical centers
- Upgraded Roof & HVAC
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
$296,419
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
6.30%
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%
$5,928,380
$5.9M
Cap Rate 7%
$4,234,557
$4.2M
Cap Rate 9%
$3,293,544
$3.3M
Market Conditions
NOI Build-Up for 8,426 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
$472.2K $56.04/SF
− Vacancy
−$77.0K −$9.13/SF
EGI
$395.2K $46.91/SF
− OpEx
−$98.8K −$11.73/SF
NOI
$296.4K $35.18/SF
Area
Santa Clara County, CA
Vacancy
16.30%
Lease Rate
$56.04 /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%
$5,928,380
Cap Rate 7%
$4,234,557
Cap Rate 9%
$3,293,544
Alternative Uses
Best Use
Office B
$4.23M
$3.71M – $4.94M
NOI $296,419 @ 7.0% cap · market cap 6.30%
Second Best
Healthcare Medical
$2.26M
$1.97M – $2.63M
NOI $157,977 @ 7.0% cap · market cap 3.36%
Theoretical Best
Office A
$5.09M
$4.45M – $5.93M
NOI $356,083 @ 7.0% cap · market cap 7.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,222
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94040, CA
36,501
Population
16,963
Households
2.2
Avg Household Size
36
Median Age
78%
College-Educated
95%
High-School Grad
3.7 sq mi
ZIP Area
9,865
Density / Sq Mi
$184,494
Median Household Income
$120,047
Median Earnings
$3,017
Median Rent
$2,000,001
Median Home Value
Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office space surrounded by hospitals and medical centers.
Where is this medical office space located?
The property is located at 412 West El Camino Real Mountain View, CA.
What is the asking price?
The asking price for this property is $4,704,500.
What are key features of this property?
This property features: Enhanced "Med Spa" Interiors; Surrounded by half‑dozen hospitals and medical centers; Upgraded Roof & HVAC
