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Property profile & analytics
OFF-MARKET
Estimated value
$575,000
Office buildings
388 2nd St Los Altos, CA 94022-3624
Individually Owned
2-yr Hold
Free & Clear
Property ID
US09-0599167
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1925
Construction
WOOD
Total area
1,272 SF
Lot
0.16 ac (7,100 SF)
Zoning code
CD
APN
167-41-038
UPID
US09-0599167
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
$610k
CAP Approach
CAP
$735k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$575k
Owner & transaction history
The David And Lucile Packard Founda · 2 yrs held
The David And Lucile Packard Founda
since 2023
Last sale
$510,000
7 recorded transactions
Zoning & alternative use
CD · Los Altos, 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 Los Altos submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Los Altos 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
$515,000
ML approach
$610,000
CAP Approach
CAP Return
Estimation
6%
$795,000
6.5%
$735,000
7%
$680,000
Blend value · Realmo final
$575k
Range $518k – $633k · ±10% · vs last sale $510k (Dec 8 2023)
Last sale anchor
$510k
Dec 8 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
$452 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$1,209
Tax year 2023
Assessed value
$922,943
Assessed 2023
Previous assessed
$922,943
+0.0% YoY
Effective rate
0.13%
On assessed value
Assessed land
$702,862
Assessed improvement
$220,081
Applied tax rate
11.0000
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
1925
Construction
WOOD
Heating
NONE
Cooling
YES
Stories
1
Units
1
Total area
1,272 SF
Lot
0.16 ac (7,100 SF)
Zoning code
CD
APN
167-41-038
UPID
US09-0599167
Jurisdiction
SANTA CLARA
Zoning & alternative use
CD · Los Altos, CA
Zoning CD · permitted uses
CD · Los Altos, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Los Altos. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1925
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Units
1
Lot
0.16 ac
Current owner
From public records · entity-resolved
The David And Lucile Packard Founda
Individual
Free & Clear · 2 yrs held
Mailing address
343 2ND ST, LOS ALTOS, CA 94022-3639
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 8, 2023
—
The David And Lucile Packard Founda
The David And Lucile Packard Founda
Intrafamily Transfer
related
—
Aug 22, 2001
—
David Founda
Francisco Diamond Imports INC
Grant Deed
related
—
Aug 9, 1988
$510,000
Francisco Diamon
Campi,g.&k.
Trustees Deed
$375,000 · Pacific Western National Bank
—
—
Diamond Broker
—
Deed Of Trust
related
$800,000 · Individual
—
—
Francisco Diamond Imports INC
—
Deed Of Trust
related
$285,000 · Individual
—
—
Francisco Diamon
—
Deed Of Trust
related
$115,000 · Eugenia Equity E
—
—
Francisco Diamond
—
Deed Of Trust
related
$356,400 · Comerica Bank California
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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