Freestanding Office
New
For Sale
Contact for pricing
1621 W El Camino Real, Mountain View, CA 94040
Rear parking and dual-side driveway access complement the office, medical, and retail configuration.
Property Size3,696 SF
Price / SF$757.58
Days on Market3
Property Features for 1621 W El Camino Real
General Information
Standard status
Active
Size
3,696 SF
Total Parking Spaces
7
Property subtype
Retail, Office
Zoning
Mixed-Use Corridor, P (Planned Community/Precise Plan)
Investment Type
Owner/User
Building Details
Year Built
1965
Listing Agency:
Meacham Oppenheimer
Listed By:
Jeremy Awdisho · License #02064232
Source:
Crexi
Added: Aug 31
Changed: Sep 1
Last Checked: Sep 1 at 9:44PM
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 Meacham Oppenheimer
Investment Insights
Based on property information with market context.
This freestanding office building contains ±3,696 square feet on a ±9,306 square foot lot. The property is described for office, medical, and retail use, with a large parking area positioned behind the building. Seven parking spaces are provided, and driveways on both sides create access to the rear parking area.
Located at 1621 W El Camino Real in Mountain View, California, the property carries Mixed-Use Corridor, P (Planned Community/Precise Plan) zoning. Built in 1965, the building offers a straightforward commercial layout for an owner-user or investor seeking an office-oriented asset with additional medical and retail use positioning.
Located at 1621 W El Camino Real in Mountain View, California, the property carries Mixed-Use Corridor, P (Planned Community/Precise Plan) zoning. Built in 1965, the building offers a straightforward commercial layout for an owner-user or investor seeking an office-oriented asset with additional medical and retail use positioning.
Key Highlights
- ±3,696 square foot freestanding office, medical, and retail building
- ±9,306 square foot lot
- 7 parking spaces behind the building
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
$130,022
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
4.64%
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%
$2,600,440
$2.6M
Cap Rate 7%
$1,857,457
$1.9M
Cap Rate 9%
$1,444,689
$1.4M
Market Conditions
NOI Build-Up for 3,696 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
$207.1K $56.04/SF
− Vacancy
−$33.8K −$9.13/SF
EGI
$173.4K $46.91/SF
− OpEx
−$43.3K −$11.73/SF
NOI
$130.0K $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%
$2,600,440
Cap Rate 7%
$1,857,457
Cap Rate 9%
$1,444,689
Alternative Uses
Best Use
Office B
$1.86M
$1.63M – $2.17M
NOI $130,022 @ 7.0% cap · market cap 4.64%
Second Best
Retail
$1.43M
$1.25M – $1.66M
NOI $99,834 @ 7.0% cap · market cap 3.57%
Theoretical Best
Office A
$2.23M
$1.95M – $2.60M
NOI $156,193 @ 7.0% cap · market cap 5.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,965
Businesses Nearby
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Rear parking and dual-side driveway access complement the office, medical, and retail configuration.
Where is this office building located?
The property is located at 1621 W El Camino Real Mountain View, CA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: ±3,696 square foot freestanding office, medical, and retail building; ±9,306 square foot lot; 7 parking spaces behind the building
