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Property profile & analytics
OFF-MARKET
Estimated value
$19,005,000
Office buildings
2690 Hanover St Palo Alto, CA 94304-1117
Entity Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-3267548
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2016
Construction
TILT-UP CONCRETE
Total area
43,462 SF
Lot
1.33 ac (57,934 SF)
Zoning code
LMS
APN
142-19-012
UPID
US09-3267548
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
-
Lipman Grant MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$25.09M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$19.01M
Owner & transaction history
Hanover Page Mill Associates L · 12 yrs held
Hanover Page Mill Associates L
since 2014
2 recorded transactions
Zoning & alternative use
LMS · Palo Alto, 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 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$27,180,000
6.5%
$25,090,000
7%
$23,300,000
Blend value · Realmo final
$19.01M
Range $17.10M – $20.91M · ±10%
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
$437 / 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 2022Property tax & assessments
Tax year 2022
Assessed value
$37,887,910
Assessed 2023
Previous assessed
$37,145,010
+2.0% YoY
Assessed land
$239,142
Assessed improvement
$37,648,768
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 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 buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
2016
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Stories
2
Total area
43,462 SF
Lot
1.33 ac (57,934 SF)
Zoning code
LMS
APN
142-19-012
UPID
US09-3267548
Jurisdiction
SANTA CLARA
Zoning & alternative use
LMS · Palo Alto, CA
Zoning LMS · permitted uses
LMS · 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.
Building & site characteristics
From public records
Year built
2016
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Lot
1.33 ac
Current owner
From public records · entity-resolved
Hanover Page Mill Associates L
Entity
Mailing address
755 PAGE ML RD STE A200, PALO ALTO, CA 94304-1005
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 18, 2014
—
Hanover Page Mill Associates L
—
Grant Deed
related
$29,925,000 · Union Bk
—
—
Hanover Page Mill Associates L
—
Deed Of Trust
related
$28,000,000 · Miscellaneous Ins Co
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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