Multi-Unit Retail
For Sale
$2,099,000
3201-3205 Middlefield Road, Menlo Park, CA 94025
For sale retail storefront property comprising units at 3201–3205 Middlefield Road, totaling 6,395 sq. ft.
Property Size6,395 SF
Price / SF$328.23
Days on Market21
Property Features for 3201-3205 Middlefield Road
General Information
Standard status
Active
Size
6,395 SF
Zoning
RMU/
Amenities
Other
Building Details
Building Size
6,395 SF
Year Built
1950
Listing Agency:
Compass
(415) 305-6275
Listed By:
Juan De Leon · License #01383120
Source:
Evrealestate
Added: Jul 23
Changed: Aug 8
Last Checked: Aug 12 at 4:49AM
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 Compass
Investment Insights
Based on property information with market context.
This for-sale retail storefront property includes multiple units at 3201–3205 Middlefield Road. The offering totals 6,395 square feet, providing a compact retail configuration suitable for a variety of storefront-oriented uses.
The property is located at 3201-3205 Middlefield Road in Menlo Park, California, within San Mateo County.
With its multi-unit storefront setup and defined street numbering across 3201–3205, the space is well-suited for tenants seeking individual storefront presence within the same property footprint.
The property is located at 3201-3205 Middlefield Road in Menlo Park, California, within San Mateo County.
With its multi-unit storefront setup and defined street numbering across 3201–3205, the space is well-suited for tenants seeking individual storefront presence within the same property footprint.
Key Highlights
- Retail storefront property for sale at 3201–3205 Middlefield Road
- Total building size: 6,395 sq. ft.
- Year built: 1950
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
$163,306
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
7.78%
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%
$3,266,120
$3.3M
Cap Rate 7%
$2,332,943
$2.3M
Cap Rate 9%
$1,814,511
$1.8M
Market Conditions
NOI Build-Up for 6,395 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
$244.8K $38.28/SF
− Vacancy
−$11.5K −$1.80/SF
EGI
$233.3K $36.48/SF
− OpEx
−$70.0K −$10.94/SF
NOI
$163.3K $25.54/SF
Area
San Mateo County, CA
Vacancy
4.70%
Lease Rate
$38.28 /SF/Yr
Expense Ratio
30.00%
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%
$3,266,120
Cap Rate 7%
$2,332,943
Cap Rate 9%
$1,814,511
Alternative Uses
Best Use
Retail
$2.33M
$2.04M – $2.72M
NOI $163,306 @ 7.0% cap · market cap 7.78%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.08M
$4.44M – $5.93M
NOI $355,574 @ 7.0% cap · market cap 16.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,267
Businesses Nearby
Under-served
Demand for This Use
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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - For sale retail storefront property comprising units at 3201–3205 Middlefield Road, totaling 6,395 sq. ft.
Where is this storefront property located?
The property is located at 3201-3205 Middlefield Road Menlo Park, CA.
What is the asking price?
The asking price for this property is $2,099,000.
What are key features of this property?
This property features: Retail storefront property for sale at 3201–3205 Middlefield Road; Total building size: 6,395 sq. ft.; Year built: 1950
