Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    389 1St St Los Altos, CA 94022
    Back to Search
    Property profile & analytics

    389 1St St, Los Altos, CA 94022

    View on Map
    • Retail space
    • 3,140 SF
    • 0.22 lot acres
    For Sale
    $1,600,000
    View Listing →
    Los Altos Multifamily Property For Sale
    $1,600,000
    1,337 SF

    Los Altos Multifamily Property

    Multifamily property for sale in Los Altos, California.

    389 1 St, Los Altos, CA
    View Listing
    Property ID
    US09-2785332
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    2.8%
    Retail space
    Location Intelligence

    Current Use by Public Records

    • Los Altos ADU / Construction Company / General Contractor
    • TLC Builders / Contractor / Home Builder

    Property Details for 389 1St St

    Year built
    1980
    Construction
    TILT-UP CONCRETE
    Lot size
    0.22 lot acres
    Zone code
    CD
    Property type
    Retail space
    APN
    167-41-066
    APU
    16741066

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Sep 27, 2024 — 1st Place Village LLC — Deed · related $6M · Lone Oak Fund LLC
    Jul 3, 2024 — Elvia Ayala Rodriguez 1st Place Village LLC Grant Deed —
    Jun 24, 2024 $2,702,000 389 First Street 24 LLC 1st Place Village LLC Grant Deed $379k · Change Lending LLC
    Jun 10, 2024 $2,990,000 Lara Barghout 1st Place Village LLC Grant Deed $2.2M · Jpmorgan Chase Bank NA
    May 21, 2024 $2,650,000 Annie Wu 1st Place Village LLC Grant Deed —
    Feb 28, 2017 $3,515,000 1st Place Village LLC Sandridge Trust Grant Deed $2.1M · Avidbank
    Mar 14, 2016 — Sandridge Trust Fontana,carole A Quit Claim Deed · related —
    Oct 2, 2014 — Carole A Fontana Fontana Living Trust B Quit Claim Deed · related —
    May 21, 2014 — Fontana,carole A Tr Fontana,lena M Affidavit Of Death · related —
    May 11, 1998 — Fontana Trust Fontana Trust Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $2,990,000
      ML approach
      $2,990,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $3,235,000
      Market price range: $729k - $3.24M

    • Alternative Use

      Use
      Estimation
      RETAIL STORES
      $2,270,000
      Current use
      OFFICE BUILDING
      $3,775,000
      Change: +66% Conversion: Easy
      NEIGHBORHOOD: SHOPPING CENTER
      $3,225,000
      Change: +42% Conversion: Moderate

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Los Altos
    County
    Santa Clara
    State
    California
    Longitude
    -122.116
    Latitude
    37.3757
    CBSA code
    41940
    CBSA name
    SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $69,879
    $3,904,316
    $2,070,000
    $5,974,316
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $980,000
      2,873 SF

      288 1st St

      RETAIL STORES (PERSONAL SERVICES)
      288 1st St, Los Altos, CA 94022-2761
      View Details
    • Value Estimation
      $2,890,000
      7,096 SF

      4540 El Camino Real

      RETAIL STORES (PERSONAL SERVICES)
      4540 El Camino Real, Los Altos, CA 94022-1004
      View Details
    • Value Estimation by Request
      1,775 SF

      322 Main St

      RETAIL STORES (PERSONAL SERVICES)
      322 Main St, Los Altos, CA 94022-2805
      View Details
    • Value Estimation
      $23,440,000
      54,125 SF

      4800 El Camino Real

      RETAIL STORES (PERSONAL SERVICES)
      4800 El Camino Real, Los Altos, CA 94022-1407
      View Details
    • Value Estimation by Request
      1,500 SF

      395 1st St

      RETAIL STORES (PERSONAL SERVICES)
      395 1st St, Los Altos, CA 94022-3605
      View Details
    • Value Estimation
      $1,150,000
      3,100 SF

      4646 El Camino Real

      RETAIL STORES (PERSONAL SERVICES)
      4646 El Camino Real, Los Altos, CA 94022-1329
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      3,900 SF

      Downtown Los Altos Restaurant Opportunity

      Restaurant sale or lease in the heart of Los Altos.
      376 1St St, Los Altos, CA 94022
      View Details
    • $40,000,000

      Entitled Land Ready to Build

      Ready-to-issue land for a 50-unit residential project.
      355 1St St, Los Altos, CA 94022
      View Details
    • Contact for pricing

      Los Altos Office Building

      Office building for sale in Los Altos, California.
      4410 El Camino Real, Los Altos, CA 94022
      View Details
    • Contact for pricing
      4,048 SF

      Los Altos Multi-Tenant Office Building

      Two-story office building in Los Altos with investment or owner-user potential.
      895 Sherwood Ln, Los Altos, CA 94022
      View Details
    • Contact for pricing

      Land For Sale

      Land available in Santa Clara County.
      27251 Julietta Ln, Los Altos Hills, CA 94022
      View Details
    • New
      $4,200,000
      1.10 Acres

      Shovel-Ready Estate Land with ADU

      Fully approved, build-ready residential land with a permitted main residence and separate ADU for flexible living arrangements.
      27600 Altamont Rd, Los Altos Hills, CA 94022
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      760 SF

      Prime Retail Space in Los Altos

      Retail space in the heart of downtown Los Altos.
      334 Plaza N, Los Altos, CA 94022
      View Details
    • Contact for pricing
      1,392 SF

      Retail Space in Downtown Los Altos

      1,392 SF retail space with flexible terms.
      292-295 State St, Los Altos, CA 94022
      View Details
    • Contact for pricing
      576 SF

      Downtown Los Altos Retail Space

      Retail space in downtown Los Altos with easy access.
      189 Main St, Los Altos, CA 94022
      View Details
    • Contact for pricing
      5,175 SF

      Los Altos Office/Retail Space

      Downtown Los Altos office/retail space with flexible configuration and parking.
      400 S San Antonio Rd, Los Altos, CA 94022
      View Details
    View Listing
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    389 1St St
    Los Altos, CA 94022
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    389 1St St, Los Altos, CA, 94022
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!