Financial
Distress signals
Property profile

235 Alma St Palo Alto, CA 94301

FOR SALE
Office buildings
Property ID
US09-2691766
1,725 SF 0.13 ac lot Built 1904
Last sale Dec 2020 · $2,600,000
Entity Owned Owner of record is a legal entity (LLC / corporation). 5-yr Hold Held for 5 years. Absentee Owner Owner mailing address differs from the property address. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

The property is a live-work site consisting of two structures totaling approximately 3,940 square feet on a parcel of approximately 5,625 square feet. The primary building is multi-level and received updates in 2025, including refreshed interior finishes, exterior improvements, and professional landscaping. Natural light is available throughout both structures. A secondary building provides adaptable office or flex space. The site includes on-site parking and also benefits from nearby street

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with the full report.

Mortgages

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.

Property tax · 2024

What does the county charge?
$34k
Tax billed · 2024
Assessed value$2.76M
Assessed land$2.68M
Assessed improvement$74k
Effective rate1.22%

Value estimate

· Sep 2026
$3.28M
$2.95M – $3.60M
AI approach$3.23M
Submarket $/SF estimate$2.83M
NOI build-up
Gross scheduled income$221k
Vacancy & credit loss−$36k
Operating expenses−$46k
NOI · 3.08% cap applied$139k

Realmo valuation models over county records and 13 qualifying comparable sales.

Recently sold

What actually traded nearby?
$1,195/SF
ZIP average, outlier-cleaned · 27 recorded sales of this use type
Observed band · Q1–Q3$383 – $1,641
Qualifying comparables13

Cap rate analysis

How does the asset earn?
3.08%
$139k estimated NOI · market benchmarks for this use type

Price anchors at 6 / 6.5 / 7% — in the full report.

Zoning insight

What can be built here?
CDNP
JurisdictionSANTA CLARA

Location intelligence

Which uses thrive at this corner?
Best fit: Food Market
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Food Market11.4
Barber Shop10.6
Laundromat9.8

Location

235 Alma St Palo Alto, CA 94301
County assessor Recorded deeds · 9 transfers 13 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 16 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
518 Hamilton, Palo Alto, CA 94301-2011 $600,000 Sep 2024 1,568 SF
524 Middlefield, Palo Alto, CA 94301-2123 $800,000 Apr 2024 1,382 SF
675 Gilman, Palo Alto, CA 94301-2528 $2,154,000 Oct 2023 1,436 SF
652 Homer, Palo Alto, CA 94301-2827 $974,000 Oct 2023 1,704 SF
824 Bryant, Palo Alto, CA 94301-2707 $640,000 May 2023 1,769 SF
359 Middlefield, Palo Alto, CA 94301-1345 $2,153,000 Dec 2020 1,230 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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