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Property profile & analytics
OFF-MARKET
Estimated value
$16,600,000
Warehouses
291 Utah Ave South San Francisco, CA 94080-6802
Entity Owned
1-yr Hold
Free & Clear
Property ID
US09-1102032
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1963
Total area
50,142 SF
Lot
2.13 ac (92,943 SF)
Zoning code
M2000H
APN
015-135-100
UPID
US09-1102032
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
-
Draeger's Supermarkets, Inc Department Store
-
Fog City Foods Grocery & Convenience Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$16.60M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$16.60M
Owner & transaction history
291 Utah Ave LLC · 1 yrs held
291 Utah Ave LLC
since 2024
Last sale
$16.6M
7 recorded transactions
Zoning & alternative use
M2000H · South San Francisco, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$27.1M
+25.5%
Retail stores
$25.5M
+18.2%
Commercial (general)
$23.2M
+7.5%
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 South San Francisco submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South San Francisco 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
$16,600,000
ML approach
$16,600,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$21,565,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$27,060,000
Change: +25% · Conversion: Moderate
RETAIL STORES
$25,500,000
Change: +18% · Conversion: Moderate
COMMERCIAL (GENERAL)
$23,175,000
Change: +7% · Conversion: Difficult
AUTO REPAIR, GARAGE
$22,780,000
Change: +6% · Conversion: Easy
Blend value · Realmo final
$16.60M
Range $14.94M – $18.26M · ±10% · vs last sale $16.60M (Oct 15 2024)
Last sale anchor
$16.60M
Oct 15 2024
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
$331 / 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
$222,812
Tax year 2024
Assessed value
$16,081,835
Assessed 2024
Previous assessed
$16,081,835
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$13,505,417
Assessed improvement
$2,576,418
Applied tax rate
13.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1963
Heating
NONE
Stories
1
Total area
50,142 SF
Lot
2.13 ac (92,943 SF)
Zoning code
M2000H
APN
015-135-100
UPID
US09-1102032
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
M2000H · South San Francisco, CA
Zoning M2000H · permitted uses
M2000H · South San Francisco, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
South San Francisco. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$21.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$27.1M
RETAIL STORES
Est. value
$25.5M
COMMERCIAL (GENERAL)
Est. value
$23.2M
AUTO REPAIR, GARAGE
Est. value
$22.8M
WAREHOUSE, STORAGE Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1963
Heating
NONE
Stories
1
Lot
2.13 ac
Current owner
From public records · entity-resolved
291 Utah Ave LLC
Entity
Free & Clear · 1 yrs held
Mailing address
291 PO BOX 847TH AVE, CARLSBAD, CA 92018-0847
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
22 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 18, 2025
—
291 Utah Ave LLC
—
Deed
related
$185,561,000 · Pgim Real Estate Agency Financing LLC
Oct 15, 2024
$16,600,000
291 Utah Ave LLC
Draegers Super Markets
Grant Deed
—
Sep 15, 2021
$2,021,000
Draegers Super Markets INC
Sananton Investment Co LLC
Grant Deed
—
Sep 15, 2021
$1,010,500
Draegers Super Markets
James M Draeger
Quit Claim Deed
related
—
Sep 15, 2021
$6,914,000
Draegers Super Markets
John Draeger
Grant Deed
$8,500,000 · Comerica Bank
Jun 23, 2020
$1,010,500
Draegers Super Markets
James M Draeger
Quit Claim Deed
related
—
Oct 31, 2019
—
Draegers Super Markets
Lockwood Clotilde A Trust
Quit Claim Deed
related
—
Oct 31, 2019
$909,000
Draegers Super Markets
Andrea Draeger
Quit Claim Deed
related
—
Oct 31, 2019
$2,009,500
Draegers Super Markets
Draeger Real Estate LP
Quit Claim Deed
related
$3,110,000 · Comerica Bk
Aug 15, 2019
—
James M Draeger
Draeger,kimberly H
Quit Claim Deed
related
—
Apr 15, 2009
—
Draeger Real Estate
—
Deed Of Trust
related
$4,663,073 · Comerica Bank
Apr 14, 2009
—
Sananton Investment Co LLC
Draeger Management Co INC
Grant Deed
—
May 17, 2001
$8,300,000
Draeger Real Estate LP
Lafa Knit Corp
Grant Deed
$8,700,000 · Comerica Bank California
Aug 28, 1996
—
Lafa Knit Corp
—
Deed Of Trust
related
$1,000,000 · Bank Of Canton
Mar 14, 1995
—
Lafa Knit Corp
—
Deed Of Trust
related
$1,500,000 · General Bank
Aug 2, 1994
$2,350,000
Lafa Knit Corp
Joseph E Seagram
Grant Deed
$1,000,000 · Bank Of Taiwan
—
—
Lafa Knit Corp
—
Deed Of Trust
related
$1,000,000 · Bank Of Canton
—
—
Lafa Knit Corp
—
Deed Of Trust
related
$1,250,000 · Bank Of Canton
—
—
Draeger Real Estate
—
Deed Of Trust
related
$4,663,073 · Comerica Bank
—
—
Draeger Real Estate
—
Deed Of Trust
related
$4,663,073 · Comerica Bank
—
—
Lafa Knit Corp
—
Deed Of Trust
related
$4,050,000 · Bank Of Canton
—
—
Draeger Real Estate LP
—
Deed Of Trust
related
$4,273,674 · Comerica 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.
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