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Property profile & analytics
FOR LEASE
Investment properties
205 E 3Rd Ave E San Mateo, CA 94401
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-1990080
For Lease
$13,740,000
205 E 3Rd Ave,Unit E, San Mateo, CA 94401
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1929
Total area
31,987 SF
Lot
0.25 ac (11,026 SF)
Zoning code
CB000D
APN
034-174-070
UPID
US09-1990080
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
-
Kate Rogers Mst Psychotherapist Doctor
-
Kennon M. Mcdonough, PSYD Physician Medical Clinic
-
Marguerite Bartels, MFT Marriage Or Relationship Counselor
-
Comfort Travel & Hospitality Travel Agency
-
Ivy Admissions Training Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.83M
CAP Approach
CAP
$9.97M
Comparable Approach
Comparable
$17.60M
Blend (final)
Blend
$13.74M
Owner & transaction history
205 East 3rd Avenue LP · 5 yrs held
205 East 3rd Avenue LP
since 2021
Last sale
$14.8M
2 recorded transactions
Zoning & alternative use
CB000D · San Mateo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$21.6M
+46.3%
Office building
$20.9M
+41.1%
Neighborhood: shopping center
$17.3M
+16.8%
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
$15,435,000
ML approach
$9,830,000
CAP Approach
CAP Return
Estimation
6%
$10,795,000
6.5%
$9,965,000
7%
$9,255,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$14,780,000
Current use
RESTAURANT
$21,630,000
Change: +46% · Conversion: Difficult
OFFICE BUILDING
$20,855,000
Change: +41% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$17,260,000
Change: +17% · Conversion: Difficult
RETAIL STORES
$15,505,000
Change: +5% · Conversion: Easy
AUTO REPAIR, GARAGE
$14,530,000
Change: -2% · Conversion: Difficult
WAREHOUSE, STORAGE
$12,240,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$13.74M
Range $12.37M – $15.11M · ±10% · vs last sale $14.80M (Mar 15 2021)
Last sale anchor
$14.80M
Mar 15 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
$430 / 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
$265,430
Tax year 2024
Assessed value
$15,705,878
Assessed 2024
Previous assessed
$15,705,878
+0.0% YoY
Effective rate
1.69%
On assessed value
Assessed land
$9,826,786
Assessed improvement
$5,879,092
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 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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
For Lease
Year built
1929
Heating
NONE
Stories
5
Total area
31,987 SF
Lot
0.25 ac (11,026 SF)
Zoning code
CB000D
APN
034-174-070
UPID
US09-1990080
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
CB000D · San Mateo, CA
Zoning CB000D · permitted uses
CB000D · San Mateo, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Mateo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$14.8M
RESTAURANT
Est. value
$21.6M
OFFICE BUILDING
Est. value
$20.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$17.3M
RETAIL STORES
Est. value
$15.5M
AUTO REPAIR, GARAGE
Est. value
$14.5M
WAREHOUSE, STORAGE
Est. value
$12.2M
COMMERCIAL (GENERAL) Current
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1929
Heating
NONE
Stories
5
Lot
0.25 ac
Current owner
From public records · entity-resolved
205 East 3rd Avenue LP
Entity
Free & Clear · 5 yrs held
Mailing address
1 N B ST STE #4000, SAN MATEO, CA 94401-3992
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 15, 2021
$14,800,000
205 East 3rd Avenue LP
Leisure Lake Partners
Grant Deed
—
Dec 31, 1993
$1,700,000
Leisure Lake Partners LP
Medical Arts Bui
Grant Deed
$850,000 · Bank Of The Orient
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
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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