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    Property profile & analytics

    1156 San Carlos Ave San Carlos, CA 94070

    • Retail space
    • 2,000 SF
    • 0.05 lot acres
    For Lease
    View listing
    $39 SF/Yr
    Last Sale
    Aug 27, 2020
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1586591
    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

    • Carlos Lighting Company / Lighting Store

    Property Details for 1156 San Carlos Ave

    Year built
    1945
    Lot size
    0.05 lot acres
    Property size
    2,000 SF
    Property type
    Retail space
    APN
    050-074-140
    APU
    50074140

    Description

    This exceptional 1,925-square-foot retail space is ideally situated in the vibrant heart of San Carlos' downtown area. Built in 1945, this single-story, single-tenant building offers a blank canvas for a variety of retail concepts. The open layout provides flexibility for customization, making it suitable for a wide range of businesses, from coffee shops and bookstores to clothing stores and boutiques. The property features large storefront windows, ensuring maximum visibility and attracting significant foot traffic. The zoning designation is MU-DC-100. The building's total square footage is 1,925 square feet, with the entire space currently vacant. The property is identified by Assessor's Parcel Number (APN) 050-074-140. This presents a unique opportunity to establish a thriving retail presence in a high-demand location. The tenant improvement allowance is negotiable. This property is a single building on a single story. Serious inquiries are encouraged to explore this exciting opportunity further. The property's location within the bustling San Carlos downtown guarantees high visibility and accessibility for potential customers. This is a rare chance to secure a prime retail location in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    San Carlos
    County
    San Mateo
    State
    California
    Longitude
    -122.261
    Latitude
    37.507
    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
    $4,961
    $159,291
    $149,332
    $308,623
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request

      1650 Industrial Rd

      Individual retail properties
      1650 Industrial Rd, San Carlos, CA 94070
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    • Value Estimation by Request
      0.57 Acres

      1414 El Camino Real

      RETAIL STORES (PERSONAL SERVICES) • 0.57 Acres
      1414 El Camino Real, San Carlos, CA 94070-5102
      View Details
    • Value Estimation by Request
      0.16 Acres

      677 Laurel St

      RETAIL STORES (PERSONAL SERVICES) • 0.16 Acres
      677 Laurel St, San Carlos, CA 94070-3178
      View Details
    • Value Estimation by Request

      657 Walnut St

      RETAIL STORES (PERSONAL SERVICES)
      657 Walnut St, San Carlos, CA 94070-3160
      View Details
    • Value Estimation by Request
      0.07 Acres

      1200 Central Ave

      RETAIL STORES (PERSONAL SERVICES) • 0.07 Acres
      1200 Central Ave, San Carlos, CA 94070-5113
      View Details
    • Value Estimation
      $545,000
      2,274 SF

      600 Chestnut St Ste A

      RETAIL STORES (PERSONAL SERVICES) • 2,274 SF
      600 Chestnut St Ste A, San Carlos, CA 94070-3000
      View Details

    Similar Nearby for Sale

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    Similar Nearby for Lease

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      Retail Space in San Carlos

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      Retail Space Near Bayshore Freeway

      Retail property near Bayshore Freeway with strong retailer mix.
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      View Details
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    1156 San Carlos Ave
    San Carlos, CA 94070
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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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