Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$12,110,000
Industrial land
2215 Martin Ave Santa Clara, CA 95050-2703
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-3243608
Property profile
Verified
Property type
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Year built
1974
Construction
CONCRETE
Total area
31,500 SF
Lot
1.68 ac (73,180 SF)
Zoning code
ML
APN
224-10-115
UPID
US10-3243608
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
$9.12M
CAP Approach
CAP
$8.09M
Comparable Approach
Comparable
$15.77M
Blend (final)
Blend
$12.11M
Owner & transaction history
2175 Martin Property LLC · 5 yrs held
2175 Martin Property LLC
since 2021
Last sale
$13.9M
7 recorded transactions
Zoning & alternative use
ML · Santa Clara, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$17.2M
+58.1%
Retail stores
$16.9M
+55.5%
Warehouse, storage
$11.2M
+2.8%
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 Santa Clara submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Clara 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
$11,880,000
ML approach
$9,115,000
CAP Approach
CAP Return
Estimation
6%
$8,765,000
6.5%
$8,090,000
7%
$7,510,000
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$10,890,000
Current use
OFFICE BUILDING
$17,220,000
Change: +58% · Conversion: Difficult
RETAIL STORES
$16,940,000
Change: +56% · Conversion: Moderate
WAREHOUSE, STORAGE
$11,200,000
Change: +3% · Conversion: Easy
Blend value · Realmo final
$12.11M
Range $10.90M – $13.32M · ±10% · vs last sale $13.90M (Jul 7 2021)
Last sale anchor
$13.90M
Jul 7 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
$384 / 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
$165,045
Tax year 2024
Assessed value
$14,201,460
Assessed 2024
Previous assessed
$14,201,460
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$14,201,460
Applied tax rate
7.0000
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
Industrial land
Use group
INDUSTRIAL - VACANT LAND
Status
Off-Market
Year built
1974
Construction
CONCRETE
Heating
NONE
Stories
1
Total area
31,500 SF
Lot
1.68 ac (73,180 SF)
Zoning code
ML
APN
224-10-115
UPID
US10-3243608
Jurisdiction
SANTA CLARA
Zoning & alternative use
ML · Santa Clara, CA
Zoning ML · permitted uses
ML · Santa Clara, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Santa Clara. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$10.9M
OFFICE BUILDING
Est. value
$17.2M
RETAIL STORES
Est. value
$16.9M
WAREHOUSE, STORAGE
Est. value
$11.2M
INDUSTRIAL (GENERAL) Current
OFFICE BUILDING
RETAIL STORES
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
1974
Construction
CONCRETE
Heating
NONE
Stories
1
Lot
1.68 ac
Current owner
From public records · entity-resolved
2175 Martin Property LLC
Entity
Mailing address
110 PACIFIC AVE, SAN FRANCISCO, CA 94111-1962
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
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 9, 2023
—
2175 Martin Property LLC
—
Deed
related
$22,165,000 · Silver Point Finance LLC
May 27, 2022
—
2175 Martin Property LLC
—
Deed
related
$56,800,000 · Spf50 Pdc LLC
Jan 19, 2022
—
2175 Martin Property LLC
—
Deed
related
$18,600,000 · Spf5o Pdc LLC
Dec 10, 2021
—
2175 Martin Property LLC
—
Deed
related
$18,600,000 · Spf50 Pdc LLC
Jul 7, 2021
$13,900,000
2175 Martin Property LLC
Lvp Martin Avenue Associates LLC
Grant Deed
—
Jan 10, 2019
$10,625,000
Lvp Martin Ave Assocs LLC
Chioini Living Trust
Grant Deed
—
Jan 10, 2019
—
Chioni Living Trust
Chioini,hazel M
Affidavit Of Death
related
—
Mar 10, 2017
—
Chioini Living Trust
2175 Martin Avenue LLC
Grant Deed
—
Sep 30, 2015
—
2175 Martin Avenue LLC
Chioini Living Trust
Quit Claim Deed
—
Apr 7, 2005
—
Giulio J Chioini
Giulio J Chioini
Intrafamily Transfer
related
$1,900,000 · Comerica Bank
Feb 22, 2005
—
Chioini Trust
Spk-industrial Portfolio LLC
Grant Deed
—
Mar 1, 1995
—
Properties LP Spieker
Meier Trust
Grant Deed
related
—
—
—
Chioini Living Trust
—
Loan Modification
related
$1,900,000 · Comerica Bk
—
—
Chioni Living Trust
—
Loan Modification
related
$1,900,000 · Comerica Bank
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?”
You own 2215 Martin Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
