Warehouse
For Sale
$5,500,000
2490 Old Middlefield Way, Mountain View, CA 94043
Established warehouse property with a substantial commercial footprint in Mountain View.
Property Size11,200 SF
Price / SF$491.07
Days on Market151
Property Features for 2490 Old Middlefield Way
General Information
Standard status
Active
Size
11,200 SF
Property subtype
Warehouse
Additional Details
Cap Rate
6%
Amenities
Industrial Investment Opportunity in Mountain View, CA
NNN Lease through July 30th, 2028
Highly Sought After Location
Building Details
Building Size
11,200 SF
Year Built
1970
Listing Agency:
Palo Alto Office
(650) 391-1764
Listed By:
Yuri Sergunin · License #CA: 01908322
(650) 391-1764
Source:
Marcusmillichap
Added: Apr 3
Changed: Aug 30
Last Checked: Aug 30 at 3:38AM
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 Palo Alto Office
Investment Insights
Based on property information with market context.
This warehouse property comprises 11,200 square feet and was built in 1970. The asset is located at 2490 Old Middlefield Way in Mountain View, California, within ZIP code 94043.
Key Highlights
- 11,200‑square‑foot warehouse property
- Built in 1970
- Located at 2490 Old Middlefield Way, Mountain View, CA 94043
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
$226,998
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
4.13%
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%
$4,539,960
$4.5M
Cap Rate 7%
$3,242,829
$3.2M
Cap Rate 9%
$2,522,200
$2.5M
Market Conditions
NOI Build-Up for 11,200 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
$289.0K $25.80/SF
− Vacancy
−$21.9K −$1.96/SF
EGI
$267.1K $23.84/SF
− OpEx
−$40.1K −$3.58/SF
NOI
$227.0K $20.27/SF
Area
Santa Clara County, CA
Vacancy
7.58%
Lease Rate
$25.80 /SF/Yr
Expense Ratio
15.00%
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%
$4,539,960
Cap Rate 7%
$3,242,829
Cap Rate 9%
$2,522,200
Alternative Uses
Best Use
Warehouse
$3.24M
$2.84M – $3.78M
NOI $226,998 @ 7.0% cap · market cap 4.13%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.76M
$5.92M – $7.89M
NOI $473,313 @ 7.0% cap · market cap 8.61%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,566
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 94043, CA
31,414
Population
14,756
Households
2.1
Avg Household Size
36
Median Age
71%
College-Educated
94%
High-School Grad
8.5 sq mi
ZIP Area
3,696
Density / Sq Mi
$180,781
Median Household Income
$113,861
Median Earnings
$2,965
Median Rent
$1,647,500
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Established warehouse property with a substantial commercial footprint in Mountain View.
Where is this warehouse located?
The property is located at 2490 Old Middlefield Way Mountain View, CA.
What is the asking price?
The asking price for this property is $5,500,000.
What are key features of this property?
This property features: 11,200‑square‑foot warehouse property; Built in 1970; Located at 2490 Old Middlefield Way, Mountain View, CA 94043
