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1840 Gateway Dr, San Mateo, CA 94404
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Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING (MULTI-STORY)
Year built
1998
Total area
69,000 SF
Lot
2.54 ac (110,506 SF)
Zoning code
E10000
APN
035-443-120
UPID
US09-1302271
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Telecommunications Service General Contractor
-
Loan Service Bank
-
(Bike/Boat/Book/etc) Store Corporate Office
-
Business Management Consultant
-
Financial Advisor
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.16M
Owner & transaction history
since 2025
Last sale
$16.3M
7 recorded transactions
Zoning & alternative use
E10000 · San Mateo, CA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 7 comparables with addresses
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$12.16M
Value range
$10.94M – $13.38M
±10% around blend
Estimated value / SF
$176 / SF
Confidence
High
7 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
70
Income certainty
100
$10.94M
blend $12.16M
$13.38M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
69,000 SF
Lot area
2.54 ac
Year built
1998
Stories
4
APN
035-443-120
Zoning
E10000
Assessed value
$27,887,974
Annual tax
$323,392
3
Income approach: direct capitalization
Partial preview
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$323,392
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$11.01M
Weighted, 7 comps · high confidence
Evidence
7 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
5.8 mi away · 56,508 SF
11.5 mi away · 73,966 SF
12.7 mi away · 60,028 SF
16.7 mi away · 63,000 SF
17.1 mi away · 59,300 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$12.16M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 36 sales
$652
-73%
County 168 sales
$641
-73%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $176/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 7 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$5.19M
Move the market yield to see immediate price impact.
Value / SF
$75
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$327k
$6.54M
$4.67M
$3.63M
$363k
$7.26M
$5.19M
$4.04M
$400k
$7.99M
$5.71M
$4.44M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
7 found
High confidence · county-verified
Closest comparable
$297k
3.6 mi · Dec 2025 · $4/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$323,392
Tax year 2024
Assessed value
$27,887,974
Assessed 2024
Previous assessed
$27,887,974
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$16,621,233
Assessed improvement
$11,266,741
Applied tax rate
12.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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
1998
Heating
NONE
Stories
4
Total area
69,000 SF
Lot
2.54 ac (110,506 SF)
Zoning code
E10000
APN
035-443-120
UPID
US09-1302271
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
Building & site characteristics
From public records
Year built
1998
Heating
NONE
Stories
4
Lot
2.54 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
E10000
Jurisdiction
San Mateo, CA
Recorded code
E10000
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for E10000 in San Mateo, CA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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