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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2996 Norfolk St San Mateo, CA 94403-2075

    • Super regional malls
    • 0.40 lot acres
    OFF-MARKET
    Value Estimations
    $340,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1992270
    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

    • Wang Jennifer DDS / Dentist
    • Dr. James S. Lee, DMD / Dentist
    • Marina Liquor / Liquor Store
    • Zen Acupuncture & Herbs / Acupuncture Clinic / Acupuncturist
    • Beauty Essentials--Shiseido Cosmetics / Cosmetics Store / Skin Care Clinic

    Property Details for 2996 Norfolk St

    Lot size
    0.40 lot acres
    Zone code
    C20001
    Property type
    Super regional malls
    APN
    040-161-180
    APU
    40161180

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $340,000

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

    Location Insight

    • Map
    • Local Demand
    City
    San Mateo
    County
    San Mateo
    State
    California
    Longitude
    -122.284
    Latitude
    37.5447
    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
    $16,329
    $96,645
    $860,438
    $957,083
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $630,000
      28,760 SF

      2942 Norfolk St

      REGIONAL SHOPPING CENTER, MALL • 28,760 SF
      2942 Norfolk St, San Mateo, CA 94403-2018
      View Details
    • Value Estimation
      $420,000
      9,337 SF

      705 Bermuda Dr

      REGIONAL SHOPPING CENTER, MALL • 9,337 SF
      705 Bermuda Dr, San Mateo, CA 94403-1401
      View Details
    • Value Estimation
      $315,000
      0.73 Acres

      89 43rd Ave

      REGIONAL SHOPPING CENTER, MALL • 0.73 Acres
      89 43rd Ave, San Mateo, CA 94403-5175
      View Details
    • Value Estimation
      $880,000
      500,000 SF

      60 31st Ave

      REGIONAL SHOPPING CENTER, MALL • 500,000 SF
      60 31st Ave, San Mateo, CA 94403-3404
      View Details
    • Value Estimation
      $875,000
      29,461 SF

      2727 El Camino Real

      REGIONAL SHOPPING CENTER, MALL • 29,461 SF
      2727 El Camino Real, San Mateo, CA 94403-2488
      View Details
    • Value Estimation
      $350,000
      1.44 Acres

      1212 Hillsdale Blvd

      REGIONAL SHOPPING CENTER, MALL • 1.44 Acres
      1212 Hillsdale Blvd, San Mateo, CA 94403-3164
      View Details

    Similar Nearby for Sale

    • $7,500,000
      1.25 Acres

      San Mateo Undeveloped Gem

      Rare San Mateo County property offered after 57 years.
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      Turnkey Restaurant Opportunity For Sale

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      Restaurant Property with Highway Access

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      Established Barber Shop For Sale

      Barber shop in San Mateo, operating for 16 years.
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      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
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    • $1,995,000
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      San Mateo Mixed-Use Investment

      Fully leased mixed-use building in high-traffic San Mateo location.
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    Similar Nearby for Lease

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      Flex building with parking, commercial kitchen, and heavy power.
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      Turn-Key Restaurant Space Available

      Ground floor restaurant space near Park Place at Bay Meadows.
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      San Mateo Commercial Kitchen Space

      Prime 200 sq ft ghost kitchen, San Mateo.
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      Retail Space in San Mateo

      Retail property available for lease in San Mateo, California.
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      Prime Retail Anchor Space

      Large retail space in high-income San Mateo neighborhood.
      49 42Nd Ave, San Mateo, CA 94403
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    • 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
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    2996 Norfolk St
    San Mateo, CA 94403-2075
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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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