Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1221 Palmetto Ave Pacifica, CA 94044-2220

    • Warehouses
    • 57,212 SF
    • 1.05 lot acres
    OFF-MARKET
    Last Sale
    May 18, 2023
    $19,000,000
    Value Estimations
    $18,525,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1513677
    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

    • Warehouses

    Property Details for 1221 Palmetto Ave

    Year built
    2000
    Lot size
    1.05 lot acres
    Property size
    57,212 SF
    Zone code
    C30000
    Property type
    Warehouses
    APN
    009-244-080
    APU
    9244080

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $17,960,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $18,136,000
      Market price range: $11.0M - $33.0M

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $21,890,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $30,875,000
      Change: +41% Conversion: Moderate
      RETAIL STORES
      $29,095,000
      Change: +33% Conversion: Moderate
      COMMERCIAL (GENERAL)
      $26,440,000
      Change: +21% Conversion: Difficult
      AUTO REPAIR, GARAGE
      $25,990,000
      Change: +19% Conversion: Easy
      APARTMENT HOUSE (5+ UNITS)
      $21,155,000
      Change: -3% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Pacifica
    County
    San Mateo
    State
    California
    Longitude
    -122.492
    Latitude
    37.6418
    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
    $199,818
    $7,089,000
    $9,792,000
    $16,881,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $650,000
      1,400 SF

      580 Crespi Dr Ste G

      WAREHOUSE, STORAGE • 1,400 SF
      580 Crespi Dr Ste G, Pacifica, CA 94044-3426
      View Details
    • Value Estimation
      $1,020,000
      2,386 SF

      580 Crespi Dr Ste J

      WAREHOUSE, STORAGE • 2,386 SF
      580 Crespi Dr Ste J, Pacifica, CA 94044-3426
      View Details
    • Value Estimation by Request
      2,859 SF

      580 Crespi Dr Ste G

      WAREHOUSE, STORAGE • 2,859 SF
      580 Crespi Dr Ste G, Pacifica, CA 94044-3426
      View Details
    • Value Estimation
      $520,000
      1,123 SF

      580 Crespi Dr Ste A4

      WAREHOUSE, STORAGE • 1,123 SF
      580 Crespi Dr Ste A4, Pacifica, CA 94044-3426
      View Details
    • Value Estimation
      $625,000
      1,399 SF

      580 Crespi Dr

      WAREHOUSE, STORAGE • 1,399 SF
      580 Crespi Dr, Pacifica, CA 94044-3487
      View Details
    • Value Estimation
      $640,000
      1,404 SF

      580 Crespi Dr Ste P

      WAREHOUSE, STORAGE • 1,404 SF
      580 Crespi Dr Ste P, Pacifica, CA 94044-3426
      View Details

    Similar Nearby for Sale

    • $2,100,000
      5,137 SF

      Five-Unit Apartment Building in Pacifica

      Well-maintained five-unit apartment building in Pacifica's desirable Sharp Park district.
      160 Clarendon Rd, Pacifica, CA 94044
      View Details
    • Contact for pricing
      2,248 SF

      Pacifica Gas Station Investment Property

      Nationally branded gas station with a strong lease in place.
      95 Bill Drake Way, Pacifica, CA 94044
      View Details
    • $1,295,000
      2,800 SF

      Commercial Property in Pacifica, CA

      2800 SF commercial building with four units in Pacifica.
      Palmetto Ave, Pacifica, CA 94044
      View Details
    • $1,550,000
      3.72 Acres

      Panoramic View Residential Land

      Hilltop property with stunning views, ready for custom home.
      9 Gypsy Hill Rd, Pacifica, CA 94044
      View Details
    • $9,999,999
      3.05 Acres

      Pacifica Coast Hwy Development

      3-Acre Coastal Development Opportunity
      2251 Pacific Coast Hwy, Pacifica, CA 94044
      View Details
    • $5,999,000
      2.79 Acres

      Pacifica Land with Ocean Views

      Large land parcel in Pacifica's Rockaway Beach district.
      Calera Ter, Pacifica, CA 94044
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,200 SF

      Retail/Office Shopping Center Space

      Multi-tenant retail/office shopping center with high walk score.
      745-777 Hickey Blvd, Pacifica, CA 94044
      View Details
    • Contact for pricing
      2,520 SF

      Retail/Office Shopping Center Space

      Multi-tenant retail/office shopping center with high walk score.
      707-743 Hickey Blvd, Pacifica, CA 94044
      View Details
    • $2,532 /Mo
      17,500 SF

      Commercial Space in Pacifica, CA

      Office or retail space in updated business complex near Rockaway Beach.
      205 Rockaway, Pacifica, CA 94044
      View Details
    • $2,000 /Mo
      600 SF

      PACIFICA Commercial Space Near Beach

      New construction commercial space ideal for office, retail, or wellness.
      Address Not Disclosed, Pacifica, CA 94044
      View Details
    • $3 SF/Yr
      1,960 SF

      Pacifica Office Space For Rent

      Newly constructed office space near Pacific Ocean and popular restaurants.
      535 Nick Gust Way, Pacifica, CA 94044
      View Details
    • Contact for pricing
      19,085 SF

      Linda Mar Shopping Center Space

      Grocery-anchored retail space in Pacifica, California.
      1380-1410 Linda Mar Blvd, Pacifica, CA 94044
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1221 Palmetto Ave
    Pacifica, CA 94044-2220
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.