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    Property profile & analytics

    2429 Ocean Ave San Francisco, CA 94127-2606

    • Office buildings
    • 1,720 SF
    • 0.07 lot acres
    OFF-MARKET
    Last Sale
    May 13, 2025
    $790,000
    Value Estimations
    $1,070,000
    Show details
    Cap Rate Potential
    4.2%
    Office buildings
    Location Intelligence
    Property ID
    US09-5942881
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Rodel E Rodis Law Offices / Attorney

    Property Details for 2429 Ocean Ave

    Year built
    1923
    Construction
    WOOD
    Lot size
    0.07 lot acres
    Property size
    1,720 SF
    Zone code
    NC1
    Property type
    Office buildings
    APN
    6902 -013
    APU
    6902013

    Description

    This exceptional owner-user opportunity presents a 2,021 square foot medical office building located at 2429 Ocean Avenue in San Francisco, California, 94127. The property, priced at $1,000,000 ($494 per square foot), is a single-story building situated on a 3,275 square foot lot. Its convenient location on Ocean Avenue, within a well-established medical corridor ("Medical Row"), offers excellent visibility and accessibility. The building currently presents an opportunity for customization, as it is in its original condition. This allows a buyer to tailor the space to their specific needs and preferences. The property features a full floor of usable space, ideal for a single medical practice or similar professional use. A significant advantage is the sizable rear lot, providing ample potential for parking or the creation of valuable outdoor space. Furthermore, the building benefits from easy access to public transportation, enhancing its appeal to both staff and clients. SBA financing is available, making this an attractive investment opportunity for qualified buyers. The property is a standalone building, offering privacy and control.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,085,000
      ML approach
      $1,115,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $755,000
      6.5%
      $695,000
      7%
      $645,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    San Francisco
    County
    San Francisco
    State
    California
    Longitude
    -122.47
    Latitude
    37.7301
    CBSA code
    41860
    CBSA name
    SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $2,389
    $90,119
    $46,406
    $136,525
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $770,000
      2,150 SF

      594 Monterey Blvd

      OFFICE BUILDING • 2,150 SF
      594 Monterey Blvd, San Francisco, CA 94127-2416
      View Details
    • Value Estimation
      $330,000
      0.09 Acres

      780 Ulloa St, Unit 798

      OFFICE BUILDING • 0.09 Acres
      780 Ulloa St, San Francisco, CA 94127-1115
      View Details
    • Value Estimation
      $355,000
      1,380 SF

      2445 Ocean Ave

      OFFICE BUILDING • 1,380 SF
      2445 Ocean Ave, San Francisco, CA 94127-2606
      View Details
    • Value Estimation
      $245,000
      2,004 SF

      2395 Ocean Ave

      OFFICE BUILDING • 2,004 SF
      2395 Ocean Ave, San Francisco, CA 94127-2619
      View Details
    • Value Estimation
      $270,000
      1.63 Acres

      101 Santa Clara Ave

      OFFICE BUILDING • 1.63 Acres
      101 Santa Clara Ave, San Francisco, CA 94127-1519
      View Details
    • Value Estimation
      $250,000
      2,960 SF

      2345 Ocean Ave

      OFFICE BUILDING • 2,960 SF
      2345 Ocean Ave, San Francisco, CA 94127-2605
      View Details

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    Similar Nearby for Lease

    • Contact for pricing
      3,000 SF

      Vacant Dental Office For Rent

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      900 SF

      Renovated Office Space with Roof

      900 SF office space with private entrance and roof deck.
      2381-2387 Ocean Ave, San Francisco, CA 94127
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      221 SF

      Retail Space with Mezzanine

      Retail space featuring a mezzanine and high ceilings.
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      2,500 SF

      Retail Space with Skylights

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      3,800 SF

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    2429 Ocean Ave
    San Francisco, CA 94127-2606
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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