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Property profile & analytics
OFF-MARKET
Estimated value
$1,155,000
Warehouses
2228 Palm Ave San Mateo, CA 94403-1815
Individually Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1499655
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1945
Total area
3,850 SF
Lot
0.11 ac (5,006 SF)
Zoning code
C40001
APN
039-073-110
UPID
US09-1499655
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
-
Mario's Bon Decor Incorporated Furniture & Home Goods
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.27M
CAP Approach
CAP
$1.04M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.16M
Owner & transaction history
David J Fuata · 5 yrs held
David J Fuata
since 2021
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
C40001 · San Mateo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$1.9M
+26.7%
Commercial (general)
$1.8M
+20.8%
Auto repair, garage
$1.8M
+18.7%
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
$1,380,000
ML approach
$1,265,000
CAP Approach
CAP Return
Estimation
6%
$1,125,000
6.5%
$1,035,000
7%
$960,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$1,475,000
Current use
RETAIL STORES
$1,865,000
Change: +27% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,780,000
Change: +21% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,750,000
Change: +19% · Conversion: Easy
Blend value · Realmo final
$1.16M
Range $1.04M – $1.27M · ±10% · vs last sale $1.05M (Feb 12 2021)
Last sale anchor
$1.05M
Feb 12 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
$300 / 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
$14,239
Tax year 2024
Assessed value
$1,114,267
Assessed 2024
Previous assessed
$1,114,267
+0.0% YoY
Effective rate
1.28%
On assessed value
Assessed land
$742,845
Assessed improvement
$371,422
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1945
Heating
NONE
Total area
3,850 SF
Lot
0.11 ac (5,006 SF)
Zoning code
C40001
APN
039-073-110
UPID
US09-1499655
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
C40001 · San Mateo, CA
Zoning C40001 · permitted uses
C40001 · 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
WAREHOUSE, STORAGE Current
Est. value
$1.5M
RETAIL STORES
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.8M
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1945
Heating
NONE
Lot
0.11 ac
Current owner
From public records · entity-resolved
David J Fuata
Individual
Mailing address
3925 BRANSON DR, SAN MATEO, CA 94403-3608
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 27, 2022
—
David Fuata
—
Deed
related
$800,000 · Applied Extracts INC
Jan 18, 2022
—
David J Fuata
—
Deed
related
$740,000 · Us Bank NA
Feb 12, 2021
$1,050,000
David J Fuata
Burnham Family Limited Partnership
Grant Deed
—
Feb 12, 2021
—
David J Fuata
Veronica Fuata
Intrafamily Transfer
related
—
Jun 15, 2012
$575,000
Burnham Family LP 1
Spolar Donald
Grant Deed
—
May 28, 2008
—
Spolar Cheryl F Trust
Spolar,cheryl F
Quit Claim Deed
related
—
Feb 24, 1995
—
Don Spolar
Spolar,don & Cheryl
Quit Claim Deed
related
—
—
—
Don Spolar
—
Deed Of Trust
related
$250,000 · Borel Bank & Trust
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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