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    1001 Broadway, Unit 304 Millbrae, CA 94030-1977
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    Property profile & analytics

    1001 Broadway, Unit 304, Millbrae, CA 94030-1977

    View on Map
    • Office buildings
    • 0.03 lot acres
    Off-Market
    Last Sale Sep 22, 2022
    Property ID
    US09-3726986
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Pacific Family Medicine Clinic / Medical Clinic
    • AppBuddy / (Bike/Boat/Book/etc) Store / Corporate Office
    • ASLEC Home Group LLC. / Home Health Care Service
    • Mavis / Law Firm
    • Roofers Millbrae / Roofing Company / General Contractor

    Property Details for 1001 Broadway

    Lot size
    0.03 lot acres
    Zone code
    CL00C1
    Property type
    Office buildings
    APN
    101-650-080
    APU
    101650080

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 22, 2022 — 1001broad LLC Michael C Giotinis Grant Deed $2.6M · First Republic Bank
    Sep 28, 2017 — Giotinis,michael & Athia Trust — Trustees Deed · related $2.5M · Cathay Bk
    Nov 4, 1991 $875,000 Peninsula Bank Of Commerce Unknown Grant Deed · related —

    Description

    This exceptional 16,668 square foot Class B office building, located at 1001 Broadway in Millbrae, California (zip code 94030), presents a fantastic leasing opportunity. Built in 1982 and renovated in 1999, the property boasts a desirable three-story structure with five suites in total. Currently, 1,414 square feet of space is available for lease. The building features one elevator, ample parking with 20 spaces, and is zoned CL-C1, Millbrae (APN: 101-640-010). The available space is a second-floor corner unit offering abundant natural light, high ceilings, three private offices, and a sizable storage closet. Conveniently located in downtown Millbrae, the building offers easy access to elevators, a kitchenette, and restrooms. Its prime location provides walkability to restaurants, shops, BART, and Caltrain, as well as proximity to major commute routes. This multi-tenant building is ideal for a variety of office uses, including traditional, medical, and executive office settings. The property's modern amenities and strategic location make it an attractive option for businesses seeking a thriving and accessible workspace in the heart of Millbrae.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Millbrae
    County
    San Mateo
    State
    California
    Longitude
    -122.398
    Latitude
    37.6053
    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
    $5,243
    $99,134
    $234,627
    $333,761
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      $1,590,000
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      9,066 SF

      1699 El Camino Real

      OFFICE BUILDING (MULTI-STORY)
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      View Details
    • Value Estimation by Request
      0.20 Acres

      15 El Camino Real

      OFFICE BUILDING (MULTI-STORY)
      15 El Camino Real, Millbrae, CA 94030-2603
      View Details
    • Value Estimation
      $6,535,000
      0.71 Acres

      231 Millbrae Ave

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    • Value Estimation by Request
      0.23 Acres

      116 Park Blvd

      OFFICE BUILDING (MULTI-STORY)
      116 Park Blvd, Millbrae, CA 94030-1228
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    • Value Estimation
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      3,620 SF

      485 Broadway

      PROFESSIONAL BUILDING
      485 Broadway, Millbrae, CA 94030-1923
      View Details

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    • New
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      View Details
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    Millbrae, CA 94030-1977
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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.

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