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Property profile & analytics
OFF-MARKET
Estimated value
$4,295,000
Apartment buildings
303 Sheridan Ave Palo Alto, CA 94306-2014
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2493001
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1962
Construction
WOOD
Total area
6,704 SF
Lot
0.3 ac (13,064 SF)
Zoning code
RM5
APN
132-36-075
UPID
US09-2493001
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.13M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.87M
Blend (final)
Blend
$4.30M
Owner & transaction history
Page Mill Palo Alto LLC · 3 yrs held
Page Mill Palo Alto LLC
since 2023
Last sale
$4.4M
7 recorded transactions
Zoning & alternative use
RM5 · Palo Alto, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$6.9M
+87.0%
Retail stores
$6.2M
+69.3%
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 Palo Alto submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palo Alto 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
$4,260,000
ML approach
$4,125,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,685,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$6,890,000
Change: +87% · Conversion: Difficult
RETAIL STORES
$6,235,000
Change: +69% · Conversion: Difficult
Blend value · Realmo final
$4.30M
Range $3.87M – $4.72M · ±10% · vs last sale $4.40M (Jun 29 2023)
Last sale anchor
$4.40M
Jun 29 2023
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
$641 / 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
$53,822
Tax year 2024
Assessed value
$4,488,000
Assessed 2024
Previous assessed
$4,488,000
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$2,856,000
Assessed improvement
$1,632,000
Applied tax rate
6.0000
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
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1962
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
2
Units
7
Total area
6,704 SF
Lot
0.3 ac (13,064 SF)
Zoning code
RM5
APN
132-36-075
UPID
US09-2493001
Jurisdiction
SANTA CLARA
Zoning & alternative use
RM5 · Palo Alto, CA
Zoning RM5 · permitted uses
RM5 · Palo Alto, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palo Alto. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.9M
RETAIL STORES
Est. value
$6.2M
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1962
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
7
Lot
0.3 ac
Current owner
From public records · entity-resolved
Page Mill Palo Alto LLC
Entity
Mailing address
1725 BERRYESSA RD STE B, SAN JOSE, CA 95133-1173
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 29, 2023
$4,400,000
Page Mill Palo Alto LLC
Jennifer M Holland
Grant Deed
$3,762,000 · Sherry Holland
Oct 4, 2021
—
Jennifer Holland
Jennifer Holland
Correction Deed
related
—
May 10, 2021
—
Jennifer Hollan
Jennifer Holland
Correction Deed
related
—
Mar 15, 2021
—
Jennifer M Holland
Jennifer M Holland
Intrafamily Transfer
related
—
Jan 26, 2021
—
Jennifer Holland
Shank Susan E Trust
Quit Claim Deed
related
—
Apr 22, 2020
—
Shank,susan E Trust
Susan E Shank
Affidavit Of Death
related
—
Jan 3, 1995
—
Susan E Shank Trustee
Shank,susan S
Quit Claim Deed
related
—
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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