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    2696 Miller Ave Mountain View, CA 94040-1193

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    2696 Miller Ave Mountain View, CA 94040-1193

    View on Map
    • Apartment buildings
    • 5,490 SF
    • 0.23 lot acres
    Off-Market
    Last Sale Oct 12, 2023
    $2,300,000
    Property ID
    US09-2674506
    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.
    Value Estimations
    $2,285,000
    Show details
    Cap Rate Potential
    4.7%
    Apartment buildings
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 2696 Miller Ave

    Year built
    1964
    Construction
    WOOD
    Lot size
    0.23 lot acres
    Property size
    5,490 SF
    Zone code
    R3-1*
    Property type
    Apartment buildings
    APN
    148-15-027
    APU
    14815027

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,230,000
      ML approach
      $2,310,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,740,000
      6.5%
      $1,605,000
      7%
      $1,490,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $2,985,000
      Market price range: $834k - $2.99M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $2,370,000
      Current use
      INDUSTRIAL (GENERAL)
      $2,565,000
      Change: +8% Conversion: Difficult
      RETAIL STORES
      $2,545,000
      Change: +7% Conversion: Difficult
      WAREHOUSE, STORAGE
      $1,950,000
      Change: -18% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Mountain View
    County
    Santa Clara
    State
    California
    Longitude
    -122.113
    Latitude
    37.4066
    CBSA code
    41940
    CBSA name
    SAN JOSE-SUNNYVALE-SANTA CLARA, 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
    $27,159
    $1,920,000
    $380,000
    $2,300,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $18,980,000
      584,389 SF

      400 San Antonio Rd

      APARTMENT HOUSE (5+ UNITS) • 584,389 SF
      400 San Antonio Rd, Mountain View, CA 94040-5302
      View Details
    • Value Estimation
      $710,000
      1,968 SF

      191 El Camino Real

      APARTMENT HOUSE (5+ UNITS) • 1,968 SF
      191 El Camino Real, Mountain View, CA 94040-2724
      View Details
    • Value Estimation
      $11,245,000
      94,554 SF

      2680 Fayette Dr

      APARTMENT HOUSE (5+ UNITS) • 94,554 SF
      2680 Fayette Dr, Mountain View, CA 94040-1165
      View Details
    • Value Estimation
      $1,180,000
      4,862 SF

      1951 Latham St

      APARTMENT HOUSE (5+ UNITS) • 4,862 SF
      1951 Latham St, Mountain View, CA 94040-2117
      View Details
    • Value Estimation
      $1,975,000
      9,404 SF

      2065 Latham St

      APARTMENT HOUSE (5+ UNITS) • 9,404 SF
      2065 Latham St, Mountain View, CA 94040-2174
      View Details
    • Value Estimation
      $2,400,000
      11,868 SF

      2045 Latham St

      APARTMENT HOUSE (5+ UNITS) • 11,868 SF
      2045 Latham St, Mountain View, CA 94040-2166
      View Details

    Similar Nearby for Sale

    • $3,900,000

      Mountain View Multifamily Investment Opportunity

      Well-maintained 10-unit apartment building in prime Mountain View location.
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      22,222 SF

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      23-unit multifamily property in prime Silicon Valley location.
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      Mountain View Multifamily Investment Opportunity

      61-unit apartment community in Mountain View, bordering Los Altos, CA.
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    • $8,928,000

      Mountain View Multifamily Investment Opportunity

      23-unit multifamily property in the heart of Mountain View, California.
      1920 Latham St, Mountain View, CA 94040
      View Details
    • Contact for pricing
      56,215 SF

      61-Unit Apartment Community For Sale

      61-unit apartment community in Mountain View, near Downtown and Cuesta Park.
      1140 Castro St, Mountain View, CA 94040
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    • $3,900,000
      5,800 SF

      Mountain View Multifamily Investment Opportunity

      Well-maintained 10-unit apartment building in prime Mountain View location.
      470 Del Medio Ave, Mountain View, CA 94040
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,434 SF

      Mountain View Office Space Sublease

      Office space available for sublease in Mountain View, California.
      391 San Antonio Rd, Mountain View, CA 94040
      View Details
    • $3 SF/Yr
      7,500 SF

      Restaurant Space on El Camino

      Prime restaurant space with frontage on El Camino Real.
      2116 West El Camino Real, Mountain View, CA 94040
      View Details
    • $3 SF/Yr
      840 SF

      Retail Space in Americana Center

      Retail space in prime location near Highway 85 and 237.
      789 E El Camino Real, Mountain View, CA 94040
      View Details
    • Contact for pricing
      19,541 SF

      New Construction Office Space Available

      New construction office space with 360-degree views and modern amenities.
      2440 W El Camino Real, Mountain View, CA 94040
      View Details
    • Contact for pricing
      5,308 SF

      Mountain View Office Space Available

      First floor office suite with recent upgrades and amenities.
      2465 Latham St, Mountain View, CA 94040
      View Details
    • Contact for pricing
      6,193 SF

      Versatile Space in Mountain View

      Divisible office, retail, or medical space with ample parking.
      554 S San Antonio Rd, Mountain View, CA 94040
      View Details
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    2696 Miller Ave
    Mountain View, CA 94040-1193
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    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
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