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Property profile & analytics
OFF-MARKET
Estimated value
$2,680,000
Apartment buildings
1050 Noel Dr, Menlo Park, CA 94025-3310
Individually Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-3302996
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1948
Total area
3,189 SF
Lot
0.22 ac (9,414 SF)
Zoning code
R3000C
APN
061-411-110
UPID
US10-3302996
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.94M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.12M
Blend (final)
Blend
$2.68M
Owner & transaction history
Richard Tod Spieker · 2 yrs held
Richard Tod Spieker
since 2023
Last sale
$2.7M
7 recorded transactions
Zoning & alternative use
R3000C · Menlo Park, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.0M
+15.3%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Menlo Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Menlo Park submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$3,050,000
ML approach
$2,940,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,775,000
Current use
OFFICE BUILDING
$2,045,000
Change: +15% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$1,720,000
Change: -3% · Conversion: Difficult
RETAIL STORES
$1,620,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$2.68M
Range $2.41M – $2.95M · ±10% · vs last sale $2.65M (Dec 19 2023)
Last sale anchor
$2.65M
Dec 19 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$840 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$40,487
Tax year 2024
Assessed value
$2,650,000
Assessed 2024
Previous assessed
$2,650,000
+0.0% YoY
Effective rate
1.53%
On assessed value
Assessed land
$2,200,000
Assessed improvement
$450,000
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1948
Heating
NONE
Stories
1
Units
7
Rooms
17
Bathrooms
7
Total area
3,189 SF
Lot
0.22 ac (9,414 SF)
Zoning code
R3000C
APN
061-411-110
UPID
US10-3302996
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
R3000C · Menlo Park, CA
Zoning R3000C · permitted uses
R3000C · Menlo Park, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Menlo Park. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.8M
OFFICE BUILDING
Est. value
$2.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$1.7M
RETAIL STORES
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1948
Heating
NONE
Stories
1
Units
7
Rooms
17
Bathrooms
7
Lot
0.22 ac
Current owner
From public records · entity-resolved
Richard Tod Spieker
Individual
Mailing address
1020 CORPORATION WAY STE #100, PALO ALTO, CA 94303-4317
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 19, 2023
$2,650,000
Richard Tod Spieker
Ross S Smith
Grant Deed
—
Jul 11, 2007
—
Smith Family Trust
Smith,james
Quit Claim Deed
related
—
Mar 28, 2006
$1,325,000
Smith R Trust
Ahern 1999 Trust
Grant Deed
—
Mar 28, 2006
—
James L Smith
Larse,taia
Grant Deed
related
—
Jan 31, 2003
—
Ahern,tr
Ahern,c
Quit Claim Deed
related
$665,000 · Institutional Partners Mtg Co
May 21, 1999
—
Constance L Ahern
Blaine,constance L
Grant Deed
$1,000,000 · Financial Inst Partners Mtg
—
—
Blaine Constance
—
Deed Of Trust
related
$365,000 · Home Savings Of America
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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