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Property profile & analytics
FOR LEASE
Investment properties
283 Lorton Ave Burlingame, CA 94010
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US09-1666912
For Lease
1 / 2
$7 SF/Yr
283 Lorton Ave, Burlingame, CA 94010
View Listing →
Property profile
Verified
Property type
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Year built
1925
Construction
BRICK
Total area
17,550 SF
Lot
0.13 ac (5,850 SF)
Zoning code
CL00C1
APN
029-204-060
UPID
US09-1666912
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
-
Primeros Tacos Restaurant Take-out & Catering
-
Mochiko Mochi Pizza Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.38M
Owner & transaction history
Jsr Karp 10 LP · 10 yrs held
Jsr Karp 10 LP
since 2016
7 recorded transactions
Zoning & alternative use
CL00C1 · Burlingame, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$8.9M
+10.0%
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 Burlingame submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Burlingame 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$8,110,000
Current use
RETAIL STORES
$8,925,000
Change: +10% · Conversion: Easy
AUTO REPAIR, GARAGE
$7,975,000
Change: -2% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$6,660,000
Change: -18% · Conversion: Moderate
Blend value · Realmo final
$5.38M
Range $4.84M – $5.91M · ±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
$306 / 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
$254,782
Tax year 2024
Assessed value
$22,050,525
Assessed 2024
Previous assessed
$22,050,525
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$6,034,956
Assessed improvement
$16,015,569
Applied tax rate
4.0000
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
Investment properties
Use group
STORE/OFFICE (MIXED USE)
Status
For Lease
Year built
1925
Construction
BRICK
Heating
NONE
Stories
3
Units
40
Rooms
40
Total area
17,550 SF
Lot
0.13 ac (5,850 SF)
Zoning code
CL00C1
APN
029-204-060
UPID
US09-1666912
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
CL00C1 · Burlingame, CA
Zoning CL00C1 · permitted uses
CL00C1 · Burlingame, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Burlingame. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL) Current
Est. value
$8.1M
RETAIL STORES
Est. value
$8.9M
AUTO REPAIR, GARAGE
Est. value
$8.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$6.7M
COMMERCIAL (GENERAL) Current
RETAIL STORES
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1925
Construction
BRICK
Heating
NONE
Stories
3
Units
40
Rooms
40
Lot
0.13 ac
Current owner
From public records · entity-resolved
Jsr Karp 10 LP
Entity
Mailing address
PO BOX 271, BURLINGAME, CA 94011-0271
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2020
—
Jsr Karp 10 LP
—
Deed
related
$12,000,000 · Boston Private Bk
Apr 21, 2017
—
Jsr Karp 10 Limited Partnership
—
Deed
related
$10,000,000 · Boston Private Bank & Trust Company
Apr 22, 2016
—
Jsr Karp 10 LP
Karp Family Trust
Quit Claim Deed
related
—
Sep 28, 2015
—
Jsr Karp 10 Ltd Ptshp
Karp Family Trust
Quit Claim Deed
—
Apr 23, 2007
—
Joseph Karp
Robin Karp
Intrafamily Transfer
related
—
Jul 26, 2002
—
Karp,tr
Karp,tr
Quit Claim Deed
related
—
Sep 17, 1999
—
Ronald M Karp
Karp,robin
Quit Claim Deed
related
—
—
—
Karp Family Trus
—
Deed Of Trust
related
—
—
—
Jsr Karp 10 LP
—
Loan Modification
related
$12,000,000 · Boston Private Bk
—
—
Karp Trust
—
Deed Of Trust
related
$2,200,000 · Peninsula Bank Of Commerce
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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