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    Property profile & analytics

    1140 Morse Blvd San Carlos, CA 94070-3920

    • Hotels
    • 3,171 SF
    • 0.11 lot acres
    OFF-MARKET
    Value Estimations
    $345,000
    Show details
    Cap Rate Potential
    4.9%
    Hotels
    Location Intelligence
    Property ID
    US09-1526627
    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

    • San Carlos Inn / Motel

    Property Details for 1140 Morse Blvd

    Year built
    1960
    Construction
    WOOD
    Lot size
    0.11 lot acres
    Property size
    3,171 SF
    Zone code
    CL00C1
    Property type
    Hotels
    APN
    051-358-230
    APU
    51358230

    Description

    This exceptional 10-key hotel, the San Carlos Inn, presents a compelling investment opportunity. Located at 1140 Morse Blvd, San Carlos, CA 94070, this two-story, 3,360 square foot property sits on a 5,000 square foot lot and boasts a 7.90% pro-forma cap rate, generating a pro-forma NOI of $213,212. Built in 1960, the property is zoned MU-D-120 and includes seven on-site parking spaces. The asking price is $2,700,000 ($803.57 per square foot). Its prime downtown location, between El Camino and Laurel St, offers unparalleled convenience with nearby restaurants, shops, and public transit, providing easy access to the entire Bay Area. The surrounding area is experiencing significant growth and development, promising long-term success and increased property value. The San Carlos Inn offers high potential for revenue growth through the addition of amenities and services. This is a rare chance to acquire a well-situated hotel in a thriving California community. The property's APN is 051-358-230.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $345,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $285,000
      6.5%
      $265,000
      7%
      $245,000

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

    Location Insight

    • Map
    • Local Demand
    City
    San Carlos
    County
    San Mateo
    State
    California
    Longitude
    -122.255
    Latitude
    37.5018
    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
    $14,101
    $476,750
    $421,704
    $898,454
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,050,000
      149,440 SF

      800 San Carlos Ave

      HOTEL • 149,440 SF
      800 San Carlos Ave, San Carlos, CA 94070-2611
      View Details
    • Value Estimation
      $1,100,000
      52,764 SF

      555 Skwy Rd

      HOTEL • 52,764 SF
      555 Skwy Rd, San Carlos, CA 94070-2713
      View Details
    • Value Estimation
      $1,205,000
      55,143 SF

      3 Cir Star Way

      HOTEL • 55,143 SF
      3 Cir Star Way, San Carlos, CA 94070-6267
      View Details
    • Value Estimation
      $430,000
      9,451 SF

      26 El Camino Real

      HOTEL • 9,451 SF
      26 El Camino Real, San Carlos, CA 94070-2402
      View Details
    • Value Estimation
      $380,000
      11,825 SF

      1562 El Camino Real

      HOTEL • 11,825 SF
      1562 El Camino Real, San Carlos, CA 94070-5104
      View Details
    • Value Estimation
      $295,000
      10,822 SF

      950 El Camino Real

      HOTEL • 10,822 SF
      950 El Camino Real, San Carlos, CA 94070-4011
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      20,498 SF

      San Carlos Warehouse with Office

      20,498 SF warehouse with office space and parking.
      1360 Bayport Ave, San Carlos, CA 94070
      View Details
    • $2,200,000

      Downtown San Carlos Commercial Property

      Strategically located, fully leased commercial property in Downtown San Carlos.
      653 Laurel St, San Carlos, CA 94070
      View Details
    • Contact for pricing
      21,850 SF

      San Carlos Flex Space Available

      15,221 SF flex space with exterior and interior work underway.
      1320 Bayport Ave, San Carlos, CA 94070
      View Details
    • $1,099,000
      1,400 SF

      Downtown San Carlos Storefront

      Prime San Carlos location; vacant, 1400 sq ft.
      1239 Laurel St, San Carlos, CA 94070
      View Details
    • $1,720,000
      3,906 SF

      Remodeled Warehouse with Office Space

      Warehouse with office space in prime Silicon Valley location.
      953 Washington St, San Carlos, CA 94070
      View Details
    • $3,536,250
      6,150 SF

      San Carlos Industrial Building For Sale

      6,150 SF building on two parcels near shopping.
      1380 Industrial Rd, San Carlos, CA 94070
      View Details

    Similar Nearby for Lease

    • $34 SF/Yr
      2,134 SF

      San Carlos Warehouse Space Available

      Open warehouse space with high ceilings, roll-up door, and restroom.
      975 Industrial Rd, San Carlos, CA 94070
      View Details
    • $3 SF/Yr
      1,265 SF

      San Carlos Office Space Available

      Office space available in San Carlos, approximately 1,265 square feet.
      990 Industrial Rd, San Carlos, CA 94070
      View Details
    • $1.20 SF/Yr
      8,605 SF

      San Carlos Warehouse with Office

      8,605 SF warehouse with office space available for rent.
      151 Old County Rd, San Carlos, CA 94070
      View Details
    • $7 SF/Yr
      36,000 SF

      San Carlos Flex/Industrial Space

      Flex/industrial space available for lease in San Carlos, CA.
      888 Bransten Rd, San Carlos, CA 94070
      View Details
    • $3 SF/Yr
      1,734 SF

      Downtown Medical/Office Space Available

      Prime downtown location with treatment rooms and parking.
      961-963 Laurel St, San Carlos, CA 94070
      View Details
    • $50 SF/Yr

      San Carlos Fitness Space For Lease

      912 sq ft Bay Area Fitness Club
      1650 Industrial Rd, San Carlos, CA 94070
      View Details
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    1140 Morse Blvd
    San Carlos, CA 94070-3920
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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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