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Property profile & analytics
FOR LEASE
Office buildings
2741 Middlefield Rd Palo Alto, CA 94303
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1501984
For Lease
1 / 2
$7,650,000
2741 Middlefield Rd, Palo Alto, CA 94303
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1956
Construction
TILT-UP CONCRETE
Total area
19,280 SF
Lot
0.24 ac (10,400 SF)
Zoning code
CN
APN
127-34-095
UPID
US09-1501984
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
-
calibratedbody Gym & Fitness Center
-
Loan Till Payday Online Loan Service
-
ServiceRocket, Inc. (Bike/Boat/Book/etc) Store Corporate Office
-
Immunet Corporation (Bike/Boat/Book/etc) Store Corporate Office
-
allcove Palo Alto Crisis Center Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.65M
Owner & transaction history
Epa III LLC · 8 yrs held
Epa III LLC
since 2018
7 recorded transactions
Zoning & alternative use
CN · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$397 / 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
$86,875
Tax year 2024
Assessed value
$7,624,500
Assessed 2024
Previous assessed
$7,624,500
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$5,928,240
Assessed improvement
$1,696,260
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 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 buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1956
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
NONE
Stories
2
Units
3
Total area
19,280 SF
Lot
0.24 ac (10,400 SF)
Zoning code
CN
APN
127-34-095
UPID
US09-1501984
Jurisdiction
SANTA CLARA
Zoning & alternative use
CN · Palo Alto, CA
Zoning CN · permitted uses
CN · 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
1956
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Units
3
Lot
0.24 ac
Current owner
From public records · entity-resolved
Epa III LLC
Entity
Mailing address
307 S B ST, SAN MATEO, CA 94401-4053
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2018
—
Epa III LLC
—
Deed
related
—
Mar 9, 2018
$16,000,000
Epa III LLC
Middlefield Sunrise Ptrs LLC
Grant Deed
—
Feb 18, 2016
$11,850,000
Middlefield Sunrise Partners LLC
2741 Middlefield Partners LLC
Grant Deed
$8,295,000 · First Community Bank
Jun 4, 2012
$4,100,000
2741 Middlefield Partners LLC
Burnette Co INC
Grant Deed
$1,975,000 · Kenneth S Fong
Aug 27, 2010
$420,000
Burnette Co INC
Creative Ventures II LLC
Grant Deed
$1,350,000 · Meyrose Jean A Living Trust
Aug 27, 2010
—
Burnette Co INC
Creative Ventures II LLC
Quit Claim Deed
related
—
Nov 2, 2006
—
Creative Ventures II LLC
Creative Ventures II LLC
Quit Claim Deed
related
—
Nov 1, 2006
—
Creative Ventures LLC II
Drapkin Paul & N Trust
Grant Deed
$390,000 · Robert A Biorn
Dec 28, 2005
—
Roxy H Rapp
2741 Middlefield LLC
Grant Deed
—
Feb 7, 2005
—
Drapkin Paul & Nancy Trust
Drapkin Trust
Quit Claim Deed
related
—
Feb 9, 1998
$1,680,000
Realty Trust
2741 Middlefield LLC
Grant Deed
—
Sep 4, 1991
—
Larry K Et Al Bergmann
Unknown
Grant Deed
related
—
—
—
2741 Middlefield LLC
—
Deed Of Trust
related
$300,000 · Mid Peninsula Bank
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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