Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2302 Carlmont Dr Belmont, CA 94002-3365

    • Apartment buildings
    • 19,375 SF
    • 0.64 lot acres
    OFF-MARKET
    Last Sale
    Jul 06, 2025
    $6,750,000
    Value Estimations
    $6,950,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US10-2885492
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Access Masters Inc / General Contractor / Construction Company

    Property Details for 2302 Carlmont Dr

    Year built
    1961
    Lot size
    0.64 lot acres
    Property size
    19,375 SF
    Zone code
    R30000
    Property type
    Apartment buildings
    APN
    045-013-170
    APU
    45013170

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $8,790,000
      6.5%
      $8,115,000
      7%
      $7,535,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $6,185,000
      Market price range: $3.14M - $9.19M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $6,700,000
      Current use
      NEIGHBORHOOD: SHOPPING CENTER
      $10,455,000
      Change: +56% Conversion: Difficult
      RETAIL STORES
      $9,855,000
      Change: +47% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $8,955,000
      Change: +34% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $8,800,000
      Change: +31% Conversion: Difficult
      WAREHOUSE, STORAGE
      $7,415,000
      Change: +11% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Belmont
    County
    San Mateo
    State
    California
    Longitude
    -122.299
    Latitude
    37.5102
    CBSA code
    41860
    CBSA name
    SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $74,592
    $3,290,335
    $1,593,814
    $4,884,149
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $3,280,000
      13,483 SF

      1205 Geraldine Way

      APARTMENT HOUSE (5+ UNITS) • 13,483 SF
      1205 Geraldine Way, Belmont, CA 94002-3557
      View Details
    • Value Estimation
      $2,860,000
      17,486 SF

      1210 Geraldine Way

      APARTMENT HOUSE (5+ UNITS) • 17,486 SF
      1210 Geraldine Way, Belmont, CA 94002-3558
      View Details
    • Value Estimation
      $26,390,000
      170,590 SF

      707 Old County Rd

      APARTMENT HOUSE (5+ UNITS) • 170,590 SF
      707 Old County Rd, Belmont, CA 94002-2608
      View Details
    • Value Estimation
      $1,750,000
      8,743 SF

      1633 6th Ave

      APARTMENT HOUSE (5+ UNITS) • 8,743 SF
      1633 6th Ave, Belmont, CA 94002-3847
      View Details
    • Value Estimation
      $5,900,000
      23,117 SF

      2151 Carlmont Dr

      APARTMENT HOUSE (5+ UNITS) • 23,117 SF
      2151 Carlmont Dr, Belmont, CA 94002-3453
      View Details
    • Value Estimation
      $18,800,000
      121,168 SF

      510 Crst Vw Ave

      APARTMENT HOUSE (5+ UNITS) • 121,168 SF
      510 Crst Vw Ave, Belmont, CA 94002-2457
      View Details

    Similar Nearby for Sale

    • $10,150,000
      24,785 SF

      23-Unit Apartment Building in Belmont

      High-end apartment building with 23 units in Carlmont Village.
      2200 Village Ct, Belmont, CA 94002
      View Details
    • $2,995,950
      2,916 SF

      Seven-Unit Apartment Building in Belmont

      Seven-unit apartment building near Belmont's business district.
      1220 Sixth Ave, Belmont, CA 94002
      View Details
    • New
      $2,180,000
      2,363 SF

      Duplex in Belmont Country Club

      Duplex near shopping, schools, and transportation in Belmont, CA.
      910-912 Academy Ave, Belmont, CA 94002
      View Details
    • Contact for pricing

      Gated Belmont Oasis with Cabana

      Renovated Belmont home with park-like grounds and entertaining space.
      2207 Semeria Ave, Belmont, CA 94002
      View Details
    • $225,000

      Belmont Land Parcel For Sale

      Large site in Belmont, CA, zoned HRO-2.
      San Ardo Way, Belmont, CA 94002
      View Details
    • $700,000
      1.48 Acres

      Belmont Canyon Land Opportunity

      Six vacant lots to build your dream home with bay views.
      Marburger Ave, Belmont, CA 94002
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      6,216 SF

      Belmont Warehouse Space Available

      Industrial warehouse space for lease in Belmont, California.
      300-350 Harbor Blvd, Belmont, CA 94002
      View Details
    • Contact for pricing
      27,590 SF

      Versatile Flex Space Available 2025

      27,590 SF flex space with office, R&D, warehousing zoning.
      350 Harbor Blvd, Belmont, CA 94002
      View Details
    • Contact for pricing
      4,378 SF

      Belmont Warehouse and Flex Space

      Warehousing, flex, and creative office spaces available for immediate occupancy.
      266 Harbor Blvd, Belmont, CA 94002
      View Details
    • Contact for pricing
      15,288 SF

      Retail Space Near Caltrain Station

      Retail space for lease near Belmont Caltrain Station.
      900 Ralston Ave, Belmont, CA 94002
      View Details
    • Contact for pricing
      4,474 SF

      Belmont Warehouse with Fenced Yard

      Warehouse space featuring a fenced yard and three drive-in doors.
      505 Dale View Ave, Belmont, CA 94002
      View Details
    • $24 SF/Yr
      2,150 SF

      Retail Space on El Camino

      End-cap retail space with frontage on El Camino Real.
      1501 El Camino Real, Belmont, CA 94002
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2302 Carlmont Dr
    Belmont, CA 94002-3365
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!