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Property profile & analytics
OFF-MARKET
Estimated value
$5,670,000
Warehouses
1305 Elmer St Belmont, CA 94002-4010
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US09-2396018
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1975
Total area
10,000 SF
Lot
0.54 ac (23,613 SF)
Zoning code
M10000
APN
046-030-440
UPID
US09-2396018
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
-
Bay Pacific Auto Body Auto Repair Shop
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.34M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.76M
Blend (final)
Blend
$5.67M
Owner & transaction history
Richard E Cody · 4 yrs held
Richard E Cody
since 2021
Last sale
$4.9M
5 recorded transactions
Zoning & alternative use
M10000 · Belmont, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.8M
+76.7%
Office building
$6.4M
+67.6%
Neighborhood: shopping center
$5.4M
+41.0%
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 Belmont submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Belmont 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
$6,445,000
ML approach
$6,340,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$3,825,000
Current use
RESTAURANT
$6,760,000
Change: +77% · Conversion: Difficult
OFFICE BUILDING
$6,415,000
Change: +68% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$5,395,000
Change: +41% · Conversion: Moderate
RETAIL STORES
$5,085,000
Change: +33% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,620,000
Change: +21% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,545,000
Change: +19% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$3,460,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$5.67M
Range $5.10M – $6.24M · ±10% · vs last sale $4.90M (Dec 1 2021)
Last sale anchor
$4.90M
Dec 1 2021
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
$567 / 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
$57,059
Tax year 2024
Assessed value
$5,097,960
Assessed 2024
Previous assessed
$5,097,960
+0.0% YoY
Effective rate
1.12%
On assessed value
Assessed land
$4,473,720
Assessed improvement
$624,240
Applied tax rate
53.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1975
Heating
NONE
Total area
10,000 SF
Lot
0.54 ac (23,613 SF)
Zoning code
M10000
APN
046-030-440
UPID
US09-2396018
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
M10000 · Belmont, CA
Zoning M10000 · permitted uses
M10000 · Belmont, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Belmont. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$3.8M
RESTAURANT
Est. value
$6.8M
OFFICE BUILDING
Est. value
$6.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.4M
RETAIL STORES
Est. value
$5.1M
COMMERCIAL (GENERAL)
Est. value
$4.6M
AUTO REPAIR, GARAGE
Est. value
$4.5M
APARTMENT HOUSE (5+ UNITS)
Est. value
$3.5M
WAREHOUSE, STORAGE Current
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
1975
Heating
NONE
Lot
0.54 ac
Current owner
From public records · entity-resolved
Richard E Cody
Individual
Mailing address
1305 ELMER ST, BELMONT, CA 94002-4010
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 1, 2021
—
Richard E Cody
Richard E Cody
Intrafamily Transfer
related
$2,015,000 · Bay Area Employment Development Com
Nov 8, 2021
$3,850,000
Urban Rock Properties LLC
Herbert Katz Nolan
Grant Deed
—
Nov 8, 2021
$4,900,000
Richard E Cody
Urban Rock Properties LLC
Grant Deed
$2,450,000 · First Republic Bank
Sep 17, 2003
—
Katz,tr
Katz,nolan H
Quit Claim Deed
related
—
Feb 3, 1993
—
Nolan Katz
Katz,n. Trustee
Quit Claim Deed
related
—
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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