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Property profile & analytics
FOR SALE
Office Spaces
2323 Noriega St 202 San Francisco, CA 94122
Individually Owned
9-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-5922085
For Sale
$325,000
2323 Noriega St,Unit 202, San Francisco, CA 94122
View Listing →
Property profile
Verified
Property type
Office Spaces
Use group
CONDOMINIUM OFFICES
Year built
1991
Construction
WOOD
Total area
465 SF
Zoning code
NC2
APN
2067 -073
UPID
US09-5922085
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Michael Liu · 9 yrs held
Michael Liu
since 2016
4 recorded transactions
Zoning & alternative use
NC2 · San Francisco, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Francisco submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Francisco 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$5,328
Tax year 2024
Assessed value
$381,166
Assessed 2024
Previous assessed
$381,166
+0.0% YoY
Effective rate
1.40%
On assessed value
Assessed land
$190,583
Assessed improvement
$190,583
Applied tax rate
1.0000
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
Office Spaces
Use group
CONDOMINIUM OFFICES
Status
For Sale
Year built
1991
Construction
WOOD
Heating
NONE
Stories
1
Units
1
Total area
465 SF
Zoning code
NC2
APN
2067 -073
UPID
US09-5922085
Jurisdiction
SAN FRANCISCO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
NC2 · San Francisco, CA
Zoning NC2 · permitted uses
NC2 · San Francisco, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Francisco. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1991
Construction
WOOD
Heating
NONE
Stories
1
Units
1
Current owner
From public records · entity-resolved
Michael Liu
Individual
Free & Clear · 9 yrs held
Mailing address
1742 23RD AVE, SAN FRANCISCO, CA 94122-4424
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 14, 2016
$335,000
Michael Liu
Tam Tin Yau Trust
Grant Deed
—
Jul 21, 2010
—
Tam Tin Y Trust
Tam,tin Y
Quit Claim Deed
related
—
Jun 9, 2004
—
Woo,tr
Woo,wayne & Angela
Quit Claim Deed
related
—
Jan 30, 1992
$123,000
Otilia Tam
N Building Assoc
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.
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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