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Property profile & analytics
FOR LEASE
Office buildings
1800 Gateway Dr San Mateo, CA 94402
Individually Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1926811
For Lease
1 / 3
$37,500,000
1800 Gateway Dr, San Mateo, CA 94402
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1989
Total area
73,429 SF
Lot
2.05 ac (89,206 SF)
Zoning code
E10000
APN
035-443-030
UPID
US09-1926811
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
-
Camico Mutual Insurance Co Insurance Agency
-
Manor Business Park
-
Zero Chaos Employment Agency
-
Warner Design Interior Design Home Decor Store
-
Manticore Games Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$37.50M
CAP Approach
CAP
$23.41M
Comparable Approach
Comparable
$35.41M
Blend (final)
Blend
$37.50M
Owner & transaction history
William L Butler · 1 yrs held
William L Butler
since 2024
Last sale
$37.5M
7 recorded transactions
Zoning & alternative use
E10000 · San Mateo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$49.7M
+3.7%
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 San Mateo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Mateo 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
$37,500,000
ML approach
$37,500,000
CAP Approach
CAP Return
Estimation
6%
$25,365,000
6.5%
$23,410,000
7%
$21,740,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$47,880,000
Current use
RESTAURANT
$49,650,000
Change: +4% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$39,625,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$37.50M
Range $33.75M – $41.25M · ±10% · vs last sale $37.50M (Sep 25 2024)
Last sale anchor
$37.50M
Sep 25 2024
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
$511 / 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
$291,079
Tax year 2024
Assessed value
$25,175,301
Assessed 2024
Previous assessed
$25,175,301
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$9,628,372
Assessed improvement
$15,546,929
Applied tax rate
12.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Status
For Lease
Year built
1989
Heating
NONE
Stories
3
Total area
73,429 SF
Lot
2.05 ac (89,206 SF)
Zoning code
E10000
APN
035-443-030
UPID
US09-1926811
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
E10000 · San Mateo, CAZoning E10000 · permitted uses
E10000 · San Mateo, CA
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
OFFICE BUILDING Current
Est. value
$47.9M
RESTAURANT
Est. value
$49.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$39.6M
OFFICE BUILDING Current
RESTAURANT
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
1989
Heating
NONE
Stories
3
Lot
2.05 ac
Current owner
From public records · entity-resolved
William L Butler
Individual
Mailing address
311 S ELLSWORTH AVE, SAN MATEO, CA 94401-4023
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 25, 2024
$37,500,000
William L Butler
Kw Fund Vi San Mateo LLC
Grant Deed
$17,500,000 · Heritage Bank Of Commerce
Aug 27, 2019
$87,500,000
Kw Fund Vi San Mateo LLC
Agh San Mateo Centre Owner LP
Grant Deed
$66,300,000 · Suntrust Bank
Mar 29, 2018
—
Agh San Mateo Centre Owner LP
—
Grant Deed
related
$73,800,000 · Spt Ca Fundings 2
Sep 19, 2014
$70,000,000
Agh San Mateo Centre Owner LP
Carr Carp Properties LLC
Grant Deed
—
Aug 16, 2011
—
Trizec Wilshire Center LLC
—
Deed Of Trust
related
$829,110,000 · Metropolitan Life Insurance
Dec 28, 2006
—
Carr Carp Properties LLC
Carramerica Realty LP
Limited Warranty Deed
$363,000,000 · German American Capital Corp
Oct 21, 1997
—
Carramerica Realty LP
Franklin Resources INC
Grant Deed
related
—
Jun 6, 1990
—
Franklin Resourc
Demonet,j./demon
Grant Deed
related
—
—
—
Trizec Wilshire Center LLC
—
Deed Of Trust
related
$20,890,000 · Metropolitan Life Insurance
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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