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Property profile & analytics
OFF-MARKET
Estimated value
$5,830,000
Retail space
3241 Park Blvd Palo Alto, CA 94306-2235
Trust Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2772741
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1970
Total area
3,456 SF
Lot
0.43 ac (18,817 SF)
Zoning code
GM
APN
132-26-078
UPID
US09-2772741
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
$5.66M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.84M
Blend (final)
Blend
$5.83M
Owner & transaction history
Cresset Trust Company LLC · 1 yrs held
Cresset Trust Company LLC
since 2024
Last sale
$6.0M
5 recorded transactions
Zoning & alternative use
GM · Palo Alto, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.2M
+30.8%
Neighborhood: shopping center
$3.6M
+10.5%
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 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
$5,660,000
ML approach
$5,655,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$4,205,000
Change: +31% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$3,550,000
Change: +10% · Conversion: Moderate
Blend value · Realmo final
$5.83M
Range $5.25M – $6.41M · ±10% · vs last sale $6.00M (Sep 17 2024)
Last sale anchor
$6.00M
Sep 17 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
$1,687 / 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
$71,954
Tax year 2024
Assessed value
$6,018,000
Assessed 2024
Previous assessed
$6,018,000
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$6,018,000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1970
Heating
NONE
Stories
1
Units
2
Total area
3,456 SF
Lot
0.43 ac (18,817 SF)
Zoning code
GM
APN
132-26-078
UPID
US09-2772741
Jurisdiction
SANTA CLARA
Zoning & alternative use
GM · Palo Alto, CA
Zoning GM · permitted uses
GM · 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
OFFICE BUILDING
Est. value
$4.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.6M
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1970
Heating
NONE
Stories
1
Units
2
Lot
0.43 ac
Current owner
From public records · entity-resolved
Cresset Trust Company LLC
Trust
Mailing address
21001 SAN RAMON VLY BLVDA40402, SAN RAMON, CA 94583-3469
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 17, 2024
$6,000,000
Cresset Trust Company LLC
Upstairs Properties LLC
Grant Deed
—
Jun 30, 2023
$5,900,000
Upstairs Properties LLC
3241 Park Boulevard LLC
Grant Deed
—
Jun 5, 2020
—
3241 Park Boulevard LLC
—
Deed
related
$500,000 · Avidbank
Aug 14, 2015
$3,400,000
3241 Park Boulevard LLC
Astolfi,gordon
Grant Deed
$1,450,000 · Duggan J F & G D 1996 Trust
—
—
3241 Park Boulevard LLC
—
Deed Of Trust
related
$500,000 · Avidbank
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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