Mixed-Use Condominium
For Sale
$18,000,000
4115 El Camino Real, Palo Alto, CA 94306
New 2025 mixed-use condominium asset includes ground-floor retail and second-floor office units in shell condition.
Property Size31,459 SF
Days on Market105
Property Features for 4115 El Camino Real
General Information
Standard status
Active
Size
31,459 SF
Total Parking Spaces
45
Property subtype
CommercialProperty
Units
Multifamily Units
7
Office Units
2
Building Details
Building Size
31,459 SF
Year Built
2025
Tenancy
Multi
Listing Agency:
DEAL Real Estate Services
Listed By:
Awne Elrabadi · License #01480736
(408) 688-4928
Source:
Johnpaye
Added: Jul 8
Changed: Oct 17
Last Checked: Oct 19 at 4:38PM
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 DEAL Real Estate Services
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Investment Insights
Based on property information with market context.
Newly constructed in 2025, this mixed-use condominium development is offered as an entire asset with vacant units ready for lease-up or customization. The project includes seven residential condominium units with 1BR, 2BR, and 3BR floor plans that are move-in ready. It also includes two ground-floor retail condominiums and two second-floor office condominiums, with the commercial units delivered in shell condition for owner or tenant buildout.
The development provides parking for 45 vehicles, including private garages, underground parking, street-level parking, and a 19-car automated stacker system. The property is located approximately one mile from top-rated schools and tech corridors, and about 2.8 miles from downtown Palo Alto.
The owner is actively pursuing leases across residential, retail, and office spaces, supported by a unit mix spanning living, retail, and workplace uses.
The development provides parking for 45 vehicles, including private garages, underground parking, street-level parking, and a 19-car automated stacker system. The property is located approximately one mile from top-rated schools and tech corridors, and about 2.8 miles from downtown Palo Alto.
The owner is actively pursuing leases across residential, retail, and office spaces, supported by a unit mix spanning living, retail, and workplace uses.
Key Highlights
- New 2025 mixed‑use condominium development with 7 residential units (1BR, 2BR, and 3BR), plus ground‑floor retail and second‑floor office condominiums
- Commercial units delivered in shell condition for owner or tenant customization (retail and office)
- 2 ground‑floor retail condominium units plus 2 second‑floor office condominium units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$1,106,700
Cap Rate
6.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$22,134,000
$22.1M
Cap Rate 7%
$15,810,000
$15.8M
Cap Rate 9%
$12,296,667
$12.3M
Market Conditions
NOI Build-Up for 31,459 SF
Gross rent
$1.76M $56.04/SF
− Vacancy
−$287.4K −$9.13/SF
EGI
$1.48M $46.91/SF
− OpEx
−$368.9K −$11.73/SF
NOI
$1.11M $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 Rate 5%
$22,134,000
Cap Rate 7%
$15,810,000
Cap Rate 9%
$12,296,667
Alternative Uses
Best Use
Office B
$15.81M
$13.83M – $18.45M
NOI $1,106,700 @ 7.0% cap · market cap 6.15%
Second Best
Retail
$12.14M
$10.62M – $14.16M
NOI $849,755 @ 7.0% cap · market cap 4.72%
Theoretical Best
Office A
$18.99M
$16.62M – $22.16M
NOI $1,329,460 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Office units
7
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
985
Businesses Nearby
Explore this area
Business Placement
Demographics for 94306, CA
28,659
Population
11,853
Households
2.4
Avg Household Size
41
Median Age
81%
College-Educated
96%
High-School Grad
4.1 sq mi
ZIP Area
6,990
Density / Sq Mi
$186,479
Median Household Income
$112,500
Median Earnings
$2,927
Median Rent
$2,000,001
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - New 2025 mixed-use condominium asset includes ground-floor retail and second-floor office units in shell condition.
Where is this mixed-use property located?
The property is located at 4115 El Camino Real Palo Alto, CA.
What is the asking price?
The asking price for this property is $18,000,000.
What are key features of this property?
This property features: New 2025 mixed‑use condominium development with 7 residential units (1BR, 2BR, and 3BR), plus ground‑floor retail and second‑floor office condominiums; Commercial units delivered in shell condition for owner or tenant customization (retail and office); 2 ground‑floor retail condominium units plus 2 second‑floor office condominium units
