New Mixed-Use Building For
For Sale
$18,800,000
4115 El Camino Real #Whole Building, Palo Alto, CA 94306
New construction mixed-use building with residential, retail, and office condos.
Property Size31,459 SF
Price / SF$597.60
Days on Market166
Property Features for 4115 El Camino Real #Whole Building
General Information
Standard status
Active
Size
31,459 SF
Property subtype
Commercial
Amenities
Central air
Attached Garage
Central Air Cooling
Central Forced Air Heating
Electric Car Hookup
Electric Gate
Elevator/Lift
Flat/Low Pitch Roof
Lighted Parking Area
Off Street Parking
Other
Underground Parking
Building Details
Year Built
2025
Listing Agency:
COMPASS
(650) 941-1111
Listed By:
BRYAN DANFORTH · License #01789680
Source:
Corcoran
Added: Feb 23
Changed: Aug 8
Last Checked: Aug 8 at 6:04AM
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 mixed-use development, built in 2025, features modern amenities. It includes 7 residential condos with 1-bed, 2-bed, and 3-bed floor plans, as well as 2 ground floor retail condos and 2 second floor office condos. The residential units are move-in-ready, while the commercial condos are in empty shell condition, prepared for tenant improvements. A total of 45 parking spaces are available, including private garages, underground parking, street-level spaces, and a 19-car car stack in the basement. The property is located approximately 1 mile from Page Mill Road and approximately 2.8 miles from downtown Palo Alto. The surrounding area has a household income of $197,000 within a 1-mile radius. The location is considered "Very Walkable" with a score of 83 and a "Biker's Paradise" with a score of 99. The property size is 31459 square feet.
Key Highlights
- Brand new construction (built 2025) in Palo Alto
- Mixed‑use building with residential, retail, and office condos
- Move‑in‑ready residential units with various 1‑bed, 2‑bed, and 3‑bed floor plans
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
$1,106,700
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
5.89%
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%
$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
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
$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 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%
$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 5.89%
Second Best
Retail
$12.14M
$10.62M – $14.16M
NOI $849,755 @ 7.0% cap · market cap 4.52%
Theoretical Best
Office A
$18.99M
$16.62M – $22.16M
NOI $1,329,460 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - New construction mixed-use building with residential, retail, and office condos.
Where is this mixed-use property located?
The property is located at 4115 El Camino Real #Whole Building Palo Alto, CA.
What is the asking price?
The asking price for this property is $18,800,000.
What are key features of this property?
This property features: Brand new construction (built 2025) in Palo Alto; Mixed‑use building with residential, retail, and office condos; Move‑in‑ready residential units with various 1‑bed, 2‑bed, and 3‑bed floor plans
