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Property profile & analytics
OFF-MARKET
Estimated value
$15,800,000
Office buildings
384 University Ave Palo Alto, CA 94301-1715
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US09-2513553
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1935
Construction
TILT-UP CONCRETE
Total area
14,400 SF
Lot
0.11 ac (4,750 SF)
Zoning code
CDCGP
APN
120-15-065
UPID
US09-2513553
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
-
Letter Perfect (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$15.80M
Owner & transaction history
University Waverley Pa LP · 3 yrs held
University Waverley Pa LP
since 2022
Last sale
$17.2M
7 recorded transactions
Zoning & alternative use
CDCGP · Palo Alto, 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 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
$18,930,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$17,205,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$14,800,000
Change: -14% · Conversion: Difficult
RETAIL STORES
$14,445,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$15.80M
Range $14.22M – $17.38M · ±10% · vs last sale $17.23M (Aug 8 2022)
Last sale anchor
$17.23M
Aug 8 2022
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
$1,097 / 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 2022Property tax & assessments
Tax year 2022
Assessed value
$17,225,000
Assessed 2023
Previous assessed
$1,512,142
+1,039.1% YoY
Assessed land
$10,300,000
Assessed improvement
$6,925,000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1935
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
YES
Stories
3
Units
8
Total area
14,400 SF
Lot
0.11 ac (4,750 SF)
Zoning code
CDCGP
APN
120-15-065
UPID
US09-2513553
Jurisdiction
SANTA CLARA
Zoning & alternative use
CDCGP · Palo Alto, CA
Zoning CDCGP · permitted uses
CDCGP · 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 Current
Est. value
$17.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$14.8M
RETAIL STORES
Est. value
$14.4M
OFFICE BUILDING 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
1935
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
3
Units
8
Lot
0.11 ac
Current owner
From public records · entity-resolved
University Waverley Pa LP
Entity
Mailing address
626 EL CAMINO REAL, SAN CARLOS, CA 94070-3104
Ownership since
2022
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
Mar 4, 2026
—
University Waverley Pa LP
—
Deed
related
$13,500,000 · Mif Lender LLC
Jan 9, 2026
—
University Waverly Pa LP
—
Deed
related
$13,500,000 · Mif Lender LLC
Aug 8, 2022
$17,225,000
University Waverley Pa LP
Decker Oaks Investors LLC
Grant Deed
$17,100,000 · Prime Finance Short Duration Holdin
Aug 8, 2022
—
University Waverley Pa LP
Big Property Ventures LLC
Intrafamily Transfer
related
—
Jan 13, 2017
—
Decker Oaks Investors LLC
—
Deed
related
$5,000,000 · River City Bank
Nov 27, 2006
—
Levett Dennis A Trust
Levett,dennis A
Quit Claim Deed
—
Dec 2, 1994
—
Rapp Trust
Rapp,roxy H
Quit Claim Deed
related
$1,800,000 · First Interstate Bank Californ
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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