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Property profile & analytics
OFF-MARKET
Estimated value
$3,130,000
Warehouses
3261 Ash St Palo Alto, CA 94306-2256
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US10-1992259
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1990
Construction
WOOD
Total area
4,407 SF
Lot
0.17 ac (7,500 SF)
Zoning code
CS
APN
132-38-040
UPID
US10-1992259
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
-
Westlight AI Information Services
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.95M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.12M
Blend (final)
Blend
$3.13M
Owner & transaction history
Highland Estates LLC · 3 yrs held
Highland Estates LLC
since 2023
Last sale
$3.2M
7 recorded transactions
Zoning & alternative use
CS · Palo Alto, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
The CS service commercial district is intended to create and maintain areas accommodating citywide and regional services that may be inappropriate in neighborhood or pedestrian oriented shopping areas, and which generally require automotive access for customer convenience, servicing of vehicles or equipment, loading or unloading, or parking of commercial ser…
Zone name
Service Commercial
General category
COMMERCIAL
Zone area
57.09 ac
Source
Realmo
Top alternative use upside
Neighborhood: shopping center
$4.5M
+189.1%
Retail stores
$4.1M
+161.7%
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
$3,120,000
ML approach
$2,945,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$4,530,000
Change: +189% · Conversion: Moderate
RETAIL STORES
$4,100,000
Change: +162% · Conversion: Moderate
Blend value · Realmo final
$3.13M
Range $2.82M – $3.44M · ±10% · vs last sale $3.23M (Apr 28 2023)
Last sale anchor
$3.23M
Apr 28 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
$710 / 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
$39,757
Tax year 2024
Assessed value
$3,289,500
Assessed 2024
Previous assessed
$3,289,500
+0.0% YoY
Effective rate
1.21%
On assessed value
Assessed land
$2,488,800
Assessed improvement
$800,700
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
1990
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
2
Units
15
Total area
4,407 SF
Lot
0.17 ac (7,500 SF)
Zoning code
CS
APN
132-38-040
UPID
US10-1992259
Jurisdiction
SANTA CLARA
Zoning & alternative use
CS · Palo Alto, CAZoning CS · permitted uses
CS · Palo Alto, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
The CS service commercial district is intended to create and maintain areas accommodating citywide and regional services that may be inappropriate in neighborhood or pedestrian oriented shopping areas, and which generally require automotive access for customer convenience, servicing of vehicles or equipment, loading or unloading, or parking of commercial service vehicles
Zone name
Service Commercial
General category
COMMERCIAL
Zone area
57.09 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.5M
RETAIL STORES
Est. value
$4.1M
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
1990
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
15
Lot
0.17 ac
Current owner
From public records · entity-resolved
Highland Estates LLC
Entity
Mailing address
PO BOX 32833, SAN JOSE, CA 95152-2833
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 10, 2025
—
Highland Estates LLC
—
Deed
related
$1,685,000 · Technology Cu
Apr 28, 2023
$3,225,000
Highland Estates LLC
Mirco Horst
Grant Deed
—
Jul 19, 2021
—
Mirco Horst
Mirco Horst
Intrafamily Transfer
related
$1,645,000 · First Republic Bank
Dec 5, 2018
$3,015,000
Mirco Horst
3261 Ash LLC
Grant Deed
$1,650,000 · First Republic Bank
Jan 30, 2015
$2,350,000
3261 Ash LLC
Sv Investors Palo Alto I LLC
Grant Deed
$1,527,500 · First Republic Bank
Dec 21, 2012
$1,700,000
Sv Investors Palo Alto I LLC
Ash Investment Group LLC
Grant Deed
—
Sep 17, 2008
$1,125,000
Ash Investment Group LLC
Peters Family Trust
Grant Deed
—
Aug 1, 2000
—
Peters Trust
Peters,colin
Quit Claim Deed
related
—
Jun 22, 1989
$275,000
Colin Peters
Boyd,j.&a.
Grant Deed
—
—
—
Sv Investors Palo Alto I LLC
—
Deed Of Trust
related
$828,000 · Presidio 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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