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Property profile & analytics
FOR LEASE
Office buildings
388 Cambridge Ave Palo Alto, CA 94306
Entity Owned
14-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-3356463
For Lease
1 / 4
$10,135,000
388 Cambridge Ave, Palo Alto, CA 94306
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
2022
Construction
CONCRETE
Total area
26,987 SF
Lot
0.4 ac (17,500 SF)
Zoning code
CC2R
APN
124-32-073
UPID
US09-3356463
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$10.14M
Owner & transaction history
Cambridge Investments LLC · 14 yrs held
Cambridge Investments LLC
since 2011
3 recorded transactions
Zoning & alternative use
CC2R · 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$376 / 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
$61,096
Tax year 2024
Assessed value
$5,093,902
Assessed 2024
Previous assessed
$5,093,902
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$5,093,902
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
For Lease
Year built
2022
Construction
CONCRETE
Heating
NONE
Cooling
YES
Stories
3
Units
1
Total area
26,987 SF
Lot
0.4 ac (17,500 SF)
Zoning code
CC2R
APN
124-32-073
UPID
US09-3356463
Jurisdiction
SANTA CLARA
Zoning & alternative use
CC2R · Palo Alto, CA
Zoning CC2R · permitted uses
CC2R · 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.
Building & site characteristics
From public records
Year built
2022
Construction
CONCRETE
Heating
NONE
Cooling
Yes
Stories
3
Units
1
Lot
0.4 ac
Current owner
From public records · entity-resolved
Cambridge Investments LLC
Entity
Free & Clear · 14 yrs held
Mailing address
160 PACIFIC AVE STE #204, SAN FRANCISCO, CA 94111-1976
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 13, 2011
$3,230,000
Cambridge Investments LLC
Chuan Lyu Foundation
Grant Deed
—
Nov 22, 2004
$2,200,000
Chuan Lyu Foundation
Jepsen James H 2002 Trust
Grant Deed
$1,300,000 · Far East National Bank
Mar 7, 2002
—
James H Jepsen
Jepsen,james H
Quit Claim Deed
related
—
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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