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Property profile & analytics
OFF-MARKET
Estimated value
$655,000
Retail space
1229 San Pablo Ave Berkeley, CA 94706-2217
Individually Owned
26-yr Hold
~
Est. High Equity
Property ID
US09-8182368
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1953
Construction
TILT-UP CONCRETE
Total area
2,150 SF
Lot
0.11 ac (4,975 SF)
APN
60-2405-24-1
UPID
US09-8182368
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
Current use
Occupant on record · Public records
-
Turko Persian Rug Cleaning Carpet Cleaning Service
-
Turko Persian Rug Cleaning Co Carpet Cleaning Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$770k
Comparable Approach
Comparable
$421k
Blend (final)
Blend
$655k
Owner & transaction history
Michael Hoffman · 26 yrs held
Michael Hoffman
since 1999
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+33.5%
Neighborhood: shopping center
$915,000
+17.5%
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 Berkeley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Berkeley 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$835,000
6.5%
$770,000
7%
$715,000
Alternative Use
Use
Estimation
RETAIL STORES
$775,000
Current use
OFFICE BUILDING
$1,040,000
Change: +34% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$915,000
Change: +18% · Conversion: Moderate
AUTO REPAIR, GARAGE
$690,000
Change: -11% · Conversion: Difficult
COMMERCIAL (GENERAL)
$650,000
Change: -16% · Conversion: Easy
Blend value · Realmo final
$655k
Range $590k – $721k · ±10%
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
$305 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$13,930
Tax year 2023
Assessed value
$667,418
Assessed 2024
Previous assessed
$654,568
+2.0% YoY
Effective rate
2.09%
On assessed value
Assessed land
$187,591
Assessed improvement
$479,827
Applied tax rate
13.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1953
Construction
TILT-UP CONCRETE
Heating
NONE
Buildings
1
Stories
2
Units
1
Total area
2,150 SF
Lot
0.11 ac (4,975 SF)
APN
60-2405-24-1
UPID
US09-8182368
Jurisdiction
ALAMEDA
Metro division
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$775,000
OFFICE BUILDING
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$915,000
AUTO REPAIR, GARAGE
Est. value
$690,000
COMMERCIAL (GENERAL)
Est. value
$650,000
RETAIL STORES Current
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1953
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
2
Buildings
1
Units
1
Lot
0.11 ac
Current owner
From public records · entity-resolved
Michael Hoffman
Individual
Mailing address
1229 SAN PABLO AVE, BERKELEY, CA 94706-2217
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1999
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 19, 2019
—
Michael Hoffman
—
Deed
related
$575,000 · Douglas G Sykes
Jun 2, 2016
—
Michael Hoffman
—
Deed
related
$575,000 · Douglas G Sykes
Nov 1, 1999
$435,000
Michael Hoffman
Henderson Trust
Grant Deed
$217,500 · Wells Fargo Bank
Aug 16, 1999
—
Roger D Henderson
Henderson,rober D & Barbara B
Quit Claim Deed
related
—
Jan 31, 1975
—
Henderson Trust Pt
Henderson,roger D & Barb
Quit Claim Deed
related
—
—
—
Michael Hoffman
—
Loan Modification
related
$575,000 · Douglas G Sykes
—
—
Michael Hoffman
—
Deed Of Trust
related
$575,000 · Douglas G Sykes
—
—
Roger Henderson
—
Deed Of Trust
related
$250,000 · Mechanics National Bank
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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