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Property profile & analytics
FOR SALE
Manufacturing properties
370 Adrian Rd, Millbrae, CA 94010
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US09-2209790
For Sale
1 / 2
$6,500,000
370 Adrian Rd, Millbrae, CA 94010
View Listing →
Property profile
Verified
Property type
Manufacturing properties
Use group
FOOD PROCESSING
Year built
1969
Total area
19,832 SF
Lot
1.21 ac (52,814 SF)
Zoning code
ML000I
APN
024-361-020
UPID
US09-2209790
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
-
Better 4 You Meals Bay Area Big Box & Wholesale Store Food Market
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.31M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.22M
Owner & transaction history
Edward Kwuan · 3 yrs held
Edward Kwuan
since 2023
Last sale
$3.1M
6 recorded transactions
Zoning & alternative use
ML000I · Millbrae, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Millbrae submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millbrae 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
$3,395,000
ML approach
$3,310,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$3.22M
Range $2.90M – $3.54M · ±10% · vs last sale $3.09M (Jun 30 2023)
Last sale anchor
$3.09M
Jun 30 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
$162 / 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
$47,162
Tax year 2024
Assessed value
$3,914,227
Assessed 2024
Previous assessed
$3,914,227
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$3,011,921
Assessed improvement
$902,306
Applied tax rate
14.0000
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
Manufacturing properties
Use group
FOOD PROCESSING
Status
For Sale
Year built
1969
Heating
NONE
Total area
19,832 SF
Lot
1.21 ac (52,814 SF)
Zoning code
ML000I
APN
024-361-020
UPID
US09-2209790
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
ML000I · Millbrae, CA
Zoning ML000I · permitted uses
ML000I · Millbrae, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Millbrae. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1969
Heating
NONE
Lot
1.21 ac
Current owner
From public records · entity-resolved
Edward Kwuan
Individual
Mailing address
PO BOX 281616, SAN FRANCISCO, CA 94128-1616
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2023
—
Edward Kwuan
Edward C Kwuan
Intrafamily Transfer
related
—
Feb 11, 2020
—
Edward C Kwuan
—
Deed
related
$3,600,000 · Cathay Bank
Aug 31, 2009
$3,093,000
Edward C Kwuan
Istar Sfi I LLC
Grant Deed
—
Aug 31, 2009
—
Edward C Kwuan
Fun,chung S
Grant Deed
related
$2,000,000 · Cathay Bank
Jul 7, 2003
—
Sfii LLC
Trinet Essential Facilities
Grant Deed
related
—
—
—
Edward C Kwuan
—
Deed Of Trust
related
$1,917,352 · Cathay 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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