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Property profile & analytics
OFF-MARKET
Estimated value
$2,950,000
Retail space
151 California Ave E101 Palo Alto, CA 94306-1926
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US10-3273830
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1982
Construction
WOOD
Total area
3,500 SF
Lot
0.1 ac (4,512 SF)
Zoning code
CC2RP
APN
124-37-043
UPID
US10-3273830
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
-
ABC Co. Physician Medical Clinic
-
Imperial treasure Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.86M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.95M
Owner & transaction history
Marathon Bay INC · 3 yrs held
Marathon Bay INC
since 2023
Last sale
$3.0M
7 recorded transactions
Zoning & alternative use
CC2RP · Palo Alto, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.3M
+30.8%
Neighborhood: shopping center
$3.6M
+10.5%
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 Palo Alto submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palo Alto 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
$2,895,000
ML approach
$2,860,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,255,000
Current use
OFFICE BUILDING
$4,255,000
Change: +31% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$3,595,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$2.95M
Range $2.66M – $3.25M · ±10% · vs last sale $3.02M (May 30 2023)
Last sale anchor
$3.02M
May 30 2023
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
$843 / 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
$37,305
Tax year 2024
Assessed value
$3,080,400
Assessed 2024
Previous assessed
$3,080,400
+0.0% YoY
Effective rate
1.21%
On assessed value
Assessed land
$1,836,000
Assessed improvement
$1,244,400
Applied tax rate
6.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1982
Construction
WOOD
Heating
NONE
Cooling
YES
Stories
1
Units
1
Total area
3,500 SF
Lot
0.1 ac (4,512 SF)
Zoning code
CC2RP
APN
124-37-043
UPID
US10-3273830
Jurisdiction
SANTA CLARA
Zoning & alternative use
CC2RP · Palo Alto, CA
Zoning CC2RP · permitted uses
CC2RP · Palo Alto, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palo Alto. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$3.3M
OFFICE BUILDING
Est. value
$4.3M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.6M
RETAIL STORES Current
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1982
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
0.1 ac
Current owner
From public records · entity-resolved
Marathon Bay INC
Entity
Mailing address
151 CALIFORNIA AVEE101, PALO ALTO, CA 94306-1926
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 30, 2023
$3,020,000
Marathon Bay INC
Robert Yue Lee
Grant Deed
$2,567,000 · Hanmi Bank
Oct 28, 2013
—
Lee,robert Y Living Trust
Lee,robert Y & Peggy C
Quit Claim Deed
related
—
Apr 5, 2004
$800,000
Lee,tr
Mcclellan,michael R Tr
Grant Deed
—
Aug 1, 1996
—
Healthy Choice
Hanover Property Corp
Grant Deed
$250,000 · San Jose National Bank
Apr 18, 1995
$117,744
Hanover Property Corp
Berman,ben J
Trustees Deed
—
—
—
Noble
—
Deed Of Trust
related
$30,000 · Individual
—
—
Ponce
—
Deed Of Trust
related
$18,000 · Individual
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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