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Property profile & analytics
OFF-MARKET
Estimated value
$2,850,000
Retail space
33 3rd Ave San Mateo, CA 94401-4010
Individually Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-0059261
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1935
Total area
4,427 SF
Lot
0.13 ac (5,750 SF)
Zoning code
CB000D
APN
034-142-140
UPID
US09-0059261
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
-
Hotaru Restaurant Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.85M
CAP Approach
CAP
$1.74M
Comparable Approach
Comparable
$2.85M
Blend (final)
Blend
$2.85M
Owner & transaction history
Grace Xu · 2 yrs held
Grace Xu
since 2024
Last sale
$2.9M
7 recorded transactions
Zoning & alternative use
CB000D · San Mateo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.9M
+34.5%
Neighborhood: shopping center
$2.4M
+11.3%
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 San Mateo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Mateo 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
$2,850,000
ML approach
$2,850,000
CAP Approach
CAP Return
Estimation
6%
$1,885,000
6.5%
$1,740,000
7%
$1,615,000
Alternative Use
Use
Estimation
RETAIL STORES
$2,145,000
Current use
OFFICE BUILDING
$2,885,000
Change: +35% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,390,000
Change: +11% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,045,000
Change: -5% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,010,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$2.85M
Range $2.57M – $3.14M · ±10% · vs last sale $2.85M (Feb 22 2024)
Last sale anchor
$2.85M
Feb 22 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
$644 / 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
$57,415
Tax year 2024
Assessed value
$3,743,520
Assessed 2024
Previous assessed
$3,743,520
+0.0% YoY
Effective rate
1.53%
On assessed value
Assessed land
$1,871,760
Assessed improvement
$1,871,760
Applied tax rate
12.0000
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
1935
Heating
NONE
Stories
1
Total area
4,427 SF
Lot
0.13 ac (5,750 SF)
Zoning code
CB000D
APN
034-142-140
UPID
US09-0059261
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
CB000D · San Mateo, CA
Zoning CB000D · permitted uses
CB000D · San Mateo, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Mateo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$2.1M
OFFICE BUILDING
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$2.0M
AUTO REPAIR, GARAGE
Est. value
$2.0M
RETAIL STORES Current
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1935
Heating
NONE
Stories
1
Lot
0.13 ac
Current owner
From public records · entity-resolved
Grace Xu
Individual
Mailing address
97 LAKEWOOD CIR, SAN MATEO, CA 94402-3971
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
20 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 22, 2024
—
Grace Xu
Grace Xu
Intrafamily Transfer
related
—
Aug 14, 2023
—
Grace Xu
Andrew P J Eng.
Intrafamily Transfer
related
—
Oct 21, 2020
—
Andrew P J Eng.
—
Deed
related
$750,000 · Bank Of The Orient
Apr 2, 2014
—
Andrew P J Eng
Eng,andrew P J
Quit Claim Deed
related
—
Nov 8, 2011
—
Andrew P J Eng
Eng Andrew P J Trust
Quit Claim Deed
related
—
Jan 18, 2007
$2,850,000
Eng Andrew Pj Trust
Burke Junction LLC
Grant Deed
—
May 4, 2006
$2,450,000
Burke Junction LLC
Avtar S Johal
Grant Deed
$1,250,000 · Borel Private Bank & Trust Co
Sep 8, 2004
—
Johal Jagir K 2001 Trust
Johal,avtar S
Quit Claim Deed
related
—
Apr 10, 2002
$650,000
Johal Trust
Johal Trust
Grant Deed
related
—
Apr 10, 2002
$325,000
Johal Trust
Johal Trust
Grant Deed
related
—
Mar 28, 2002
—
Johal Trust
Johal Trust
Quit Claim Deed
related
—
Jun 29, 2001
—
Avtar S Johal
Johal Trust
Quit Claim Deed
related
$1,500,000 · East West Bank
Oct 30, 1998
—
Johal Trust
—
Deed Of Trust
related
$2,500,000 · United Commercial Bank
—
—
Andrew P J Eng
—
Deed Of Trust
related
$800,000 · Metro United Bank
—
—
Johal Family Tru
—
Deed Of Trust
related
$100,000 · Individual
—
—
Johal Family Tru
—
Deed Of Trust
related
$1,300,000 · Foothill Thrift & Loan
—
—
Johal Trust
—
Deed Of Trust
related
$1,339,000 · Pacific Bank NA
—
—
Johal Trust
—
Deed Of Trust
related
$1,600,000 · United Commercial Bank
—
—
Johal,gurdial S Tr&avtar S Tr
—
Deed Of Trust
related
$170,000
—
—
Johal Trust
—
Deed Of Trust
related
$100,000 · Sumitomo 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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