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    2851 Park Ave Santa Clara, CA 95050-6006
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    Property profile & analytics

    2851 Park Ave, Santa Clara, CA 95050-6006

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    • Office buildings
    • 8,000 SF
    • 0.50 lot acres
    Off-Market
    Last Sale Apr 8, 2024
    $4,400,000
    Property ID
    US09-3349209
    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
    $4,400,000
    Show details
    Cap Rate Potential
    6.1%
    Office buildings
    Location Intelligence

    Current Use by Public Records

    • Via Services / Social Service Agency / Charitable Organization
    • Altitude at Via / Training Center / Family Recreation Center
    • Mc Cullough June A / Social Service Agency / Charitable Organization
    • Via West Campus / Daycare Center
    • Rosalie Melgarejo / Physician

    Property Details for 2851 Park Ave

    Year built
    1976
    Lot size
    0.50 lot acres
    Zone code
    CT
    Property type
    Office buildings
    APN
    269-44-068
    APU
    26944068

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Apr 8, 2024 $4,400,000 Santa Clara College Dfl Venture I LLC Grant Deed —
    Apr 8, 2024 — David Lebaron JR Carolyn Duque Lebaron Intrafamily Transfer · related —
    Apr 2, 2024 $1,033,500 David Lebaron JR Dfl Venture I LLC Grant Deed —
    Dec 21, 2022 $2,700,000 Dfl Venture I LLC Via Rehabilitation Services INC Grant Deed $1.4M · First Republic Bank
    Dec 21, 2022 — Via Rehabilitation Services INC Via Rehabilitation Services INC Intrafamily Transfer · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $4,400,000
      ML approach
      $4,400,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,490,000
      6.5%
      $4,145,000
      7%
      $3,850,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $4,701,000
      Market price range: $2.27M - $6.02M

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $4,375,000
      Current use
      RETAIL STORES
      $4,305,000
      Change: -2% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Santa Clara
    County
    Santa Clara
    State
    California
    Longitude
    -121.937
    Latitude
    37.3451
    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
    $32,430
    $2,244,000
    $510,000
    $2,754,000
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,970,000
      8,528 SF

      2797 Park Ave

      OFFICE BUILDING
      2797 Park Ave, Santa Clara, CA 95050-6057
      View Details
    • Value Estimation
      $1,955,000
      8,545 SF

      1190 Benton St

      OFFICE BUILDING
      1190 Benton St, Santa Clara, CA 95050-4803
      View Details
    • Value Estimation
      $2,775,000
      12,166 SF

      1680 Civic Ctr Dr

      OFFICE BUILDING
      1680 Civic Ctr Dr, Santa Clara, CA 95050-4110
      View Details
    • Value Estimation
      $10,720,000
      36,600 SF

      1450 Coleman Ave

      OFFICE BUILDING
      1450 Coleman Ave, Santa Clara, CA 95050-4349
      View Details
    • Value Estimation
      $1,590,000
      4,216 SF

      445 Washington St

      OFFICE BUILDING
      445 Washington St, Santa Clara, CA 95050-5915
      View Details
    • Value Estimation
      $3,470,000
      11,480 SF

      71 Washington St

      OFFICE BUILDING
      71 Washington St, Santa Clara, CA 95050-6138
      View Details

    Similar Nearby for Sale

    • $1,350,000
      1,350,000 SF

      Santa Clara Office Building

      Office building for sale in Santa Clara, California.
      303 Brokaw Rd, Santa Clara, CA 95050
      View Details
    • New
      $3,800,000
      0.80 Acres

      Two-Story Office Building with 12 Units

      Two-story office property in a maintained condo complex with 12 month-to-month leased suites and shared grounds.
      1900 Lafayette St, Santa Clara, CA 95050
      View Details
    • Contact for pricing
      15,600 SF

      Two-Story Office Building in Santa Clara

      Two-story office building with 12 units in Santa Clara.
      1900 Lafayette St, Santa Clara, CA 95050
      View Details
    • Contact for pricing

      Santa Clara Office Building For Sale

      High-profile office building in Santa Clara with modern upgrades.
      1995 El Camino Real, Santa Clara, CA 95050
      View Details
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      7,039 SF

      Santa Clara Office Space Available

      High-identity office space in Franklin Square, available now.
      951-955 Monroe St, Santa Clara, CA 95050
      View Details

    Similar Nearby for Lease

    • $3 SF/Yr

      Medical/Dental Office Suite Available

      Medical/Dental office suite in Santa Clara available for lease.
      2790 Newhall St, Santa Clara, CA 95050
      View Details
    • $3,300 /Mo
      1,400 SF

      Santa Clara Commercial Space Available

      Office and retail space for rent in Santa Clara.
      Walsh Ave, Santa Clara, CA 95050
      View Details
    • Contact for pricing
      8,594 SF

      Santa Clara Office Space Available

      Office space available for rent in Santa Clara, California.
      451 El Camino Real, Santa Clara, CA 95050
      View Details
    • $2 SF/Yr
      5,926 SF

      Class A Office Space

      Office/R&D space near Caltrain – Santa Clara Station.
      471 El Camino Real, Santa Clara, CA 95050
      View Details
    • Contact for pricing
      1,100 SF

      Santa Clara Office/Retail Space

      Office or retail space with great freeway access near SJC.
      2200 Lafayette St, Santa Clara, CA 95050
      View Details

    Property Visit Statistics

    • Visits by month
      68.6k
    • Visitors by month
      41.2k
    • Avg Time on site
      18 min
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    Santa Clara, CA 95050-6006
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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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