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Property profile & analytics
OFF-MARKET
Estimated value
$5,910,000
Retail space
2098 El Camino Real Palo Alto, CA 94306-1123
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-3134863
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1931
Construction
TILT-UP CONCRETE
Total area
4,243 SF
Lot
0.1 ac (4,243 SF)
Zoning code
CN
APN
137-01-112
UPID
US09-3134863
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.60M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.94M
Blend (final)
Blend
$5.91M
Owner & transaction history
Polaris Orion LLC · 4 yrs held
Polaris Orion LLC
since 2022
Last sale
$6.2M
3 recorded transactions
Zoning & alternative use
CN · Palo Alto, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$5.2M
+30.8%
Neighborhood: shopping center
$4.4M
+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
$5,665,000
ML approach
$5,600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$3,945,000
Current use
OFFICE BUILDING
$5,160,000
Change: +31% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$4,360,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$5.91M
Range $5.32M – $6.50M · ±10% · vs last sale $6.17M (Apr 12 2022)
Last sale anchor
$6.17M
Apr 12 2022
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
$1,393 / 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
$50,130
Tax year 2024
Assessed value
$4,172,524
Assessed 2024
Previous assessed
$4,172,524
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$2,642,616
Assessed improvement
$1,529,908
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
1931
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
NONE
Stories
1
Units
1
Total area
4,243 SF
Lot
0.1 ac (4,243 SF)
Zoning code
CN
APN
137-01-112
UPID
US09-3134863
Jurisdiction
SANTA CLARA
Zoning & alternative use
CN · Palo Alto, CA
Zoning CN · permitted uses
CN · 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
$3.9M
OFFICE BUILDING
Est. value
$5.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.4M
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
1931
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
0.1 ac
Current owner
From public records · entity-resolved
Polaris Orion LLC
Entity
Free & Clear · 4 yrs held
Mailing address
531 STANFORD AVE #10521, PALO ALTO, CA 94306-1113
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 27, 2025
—
Polaris Orion LLC
—
Deed
related
$6,170,000 · Zeke Limited A Samoa Company
Apr 19, 2022
—
Polaris Orion LLC
—
Deed
related
$6,170,000 · Stanford Country Club
Apr 12, 2022
$6,170,000
Polaris Orion LLC
J F Investments LLC
Grant Deed
—
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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