Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2868 Norfolk St San Mateo, CA 94403-5512

    • Assisted living facilities
    • 5,250 SF
    • 0.45 lot acres
    OFF-MARKET
    Last Sale
    Jan 21, 2020
    $1,000,000
    Value Estimations
    $895,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-0830934
    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.

    Current Use by Public Records

    • All Duct & Vent Cleaning / Chimney Sweep / Air Duct Cleaning Service

    Property Details for 2868 Norfolk St

    Year built
    1959
    Lot size
    0.45 lot acres
    Property size
    5,250 SF
    Property type
    Assisted living facilities
    Property subtype
    Retirement homes
    APN
    035-421-450
    APU
    35421450

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $985,000
      ML approach
      $1,045,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $621,000
      Market price range: $621k - $1.22M

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

    Location Insight

    • Map
    • Local Demand
    City
    San Mateo
    County
    San Mateo
    State
    California
    Longitude
    -122.286
    Latitude
    37.5464
    CBSA code
    41860
    CBSA name
    SAN FRANCISCO-OAKLAND-FREMONT, 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
    $28,902
    $1,193,249
    $62,797
    $1,256,046
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $345,000
      1,260 SF

      3824 Beresford St

      HOMES (RETIRED, NURSING) • 1,260 SF
      3824 Beresford St, San Mateo, CA 94403-4519
      View Details
    • Value Estimation
      $385,000
      1,690 SF

      1728 Norfolk St

      HOMES (RETIRED, NURSING) • 1,690 SF
      1728 Norfolk St, San Mateo, CA 94403-1120
      View Details
    • Value Estimation
      $625,000
      2,980 SF

      3617 Pacific Blvd

      HOMES (RETIRED, NURSING) • 2,980 SF
      3617 Pacific Blvd, San Mateo, CA 94403-3519
      View Details
    • Value Estimation
      $400,000
      2,160 SF

      48 39th Ave

      HOMES (RETIRED, NURSING) • 2,160 SF
      48 39th Ave, San Mateo, CA 94403-4547
      View Details
    • Value Estimation
      $760,000
      1,530 SF

      4013 Branson Dr

      HOMES (RETIRED, NURSING) • 1,530 SF
      4013 Branson Dr, San Mateo, CA 94403-3610
      View Details
    • Value Estimation
      $295,000
      1,940 SF

      1776 Adams St

      HOMES (RETIRED, NURSING) • 1,940 SF
      1776 Adams St, San Mateo, CA 94403-1108
      View Details

    Similar Nearby for Sale

    • $3,100,000

      San Mateo Industrial Property

      Industrial property available for sale in San Mateo, California.
      2163 Palm Ave, San Mateo, CA 94403
      View Details
    • $2,049,000

      San Mateo Multifamily Investment Opportunity

      Turnkey 6-unit apartment building in prime San Mateo location.
      1950 Ivy St, San Mateo, CA 94403
      View Details
    • $7,500,000
      1.25 Acres

      San Mateo Undeveloped Gem

      Rare San Mateo County property offered after 57 years.
      2075 S Norfolk St, San Mateo, CA 94403
      View Details
    • $70,000

      Established Barber Shop For Sale

      Barber shop in San Mateo, operating for 16 years.
      13 43Rd Ave, San Mateo, CA 94403
      View Details
    • $1,725,000
      2,870 SF

      Mixed-Use Building in Prime Location

      Fully leased mixed-use building in high-traffic San Mateo location.
      25Th Ave, San Mateo, CA 94403
      View Details
    • $2,100,000
      5,016 SF

      San Mateo 5-Unit Apartment Building

      Spacious 5-unit apartment building near downtown San Mateo.
      Pacific Blvd, San Mateo, CA 94403
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      36,732 SF

      Class A Office Space Available

      Four-story Class A building with lab-ready infrastructure.
      2955 Campus Dr, San Mateo, CA 94403
      View Details
    • $45 SF/Yr
      26,649 SF

      Class A Office Building

      Class A office building in San Mateo County for lease.
      1900 S Norfolk St, San Mateo, CA 94403
      View Details
    • Contact for pricing
      23,000 SF

      Flexible Space with Parking Available

      Flex building with parking, commercial kitchen, and heavy power.
      2495 S Delaware St, San Mateo, CA 94403
      View Details
    • $1,900 /Mo

      Remodeled Office Space For Rent

      650 sq ft remodeled office space with parking included.
      116 E 25Th Ave, San Mateo, CA 94403
      View Details
    • Contact for pricing
      2,535 SF

      Turn-Key Restaurant Space Available

      Ground floor restaurant space near Park Place at Bay Meadows.
      1001-1101 Park Pl, San Mateo, CA 94403
      View Details
    • Contact for pricing
      3,334 SF

      San Mateo Office Space Available

      Office space available in San Mateo, approximately 3,334 square feet.
      910 Park Pl, San Mateo, CA 94403
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2868 Norfolk St
    San Mateo, CA 94403-5512
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.