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    41 3rd Ave San Mateo, CA 94401-4010
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    Property profile & analytics

    41 3rd Ave, San Mateo, CA 94401-4010

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    • Investment properties
    • 6,613 SF
    • 0.13 lot acres
    Off-Market
    Last Sale Jan 8, 2026
    Property ID
    US10-2518150
    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
    $1,740,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Plato's Closet San Mateo / Clothing & Fashion Store

    Property Details for 41 3rd Ave

    Year built
    1937
    Lot size
    0.13 lot acres
    Zone code
    CB000D
    Property type
    Investment properties
    Property subtype
    Retail residential properties
    APN
    034-142-190
    APU
    34142190

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 8, 2026 — Neil B Goodhue Sandringham Trust Deed —
    Oct 31, 2008 $2,950,000 Sandringham Trust Syme Charles W & C J Trust Grant Deed —
    Oct 20, 2008 — Syme Charles W & C J Trust Burke Junction LLC Grant Deed —
    May 4, 2006 $2,950,000 Burke Junction LLC Avtar S Johal Grant Deed $1.8M · Borel Private Bank & Trust Co
    Sep 8, 2004 — Johal Jagir K 2001 Trust Johal,avtar S Quit Claim Deed · related —
    Apr 10, 2002 $650,000 Johal Trust Johal Trust Grant Deed · related —
    Apr 10, 2002 $325,000 Johal Trust Johal Trust Grant Deed · related —
    Mar 28, 2002 — Johal Trust Johal Trust Quit Claim Deed · related —
    Jun 29, 2001 — Avtar S Johal Johal,sukhbir K Quit Claim Deed · related $1.5M · East West Bank
    Oct 30, 1998 — Johal Trust — Deed Of Trust · related $2.5M · United Commercial Bank
    Jul 24, 1996 — Johal Trust — Deed Of Trust · related $1.3M · Pacific Bank NA
    — — Johal,gurdial S Tr&avtar S Tr — Deed Of Trust · related $170k
    — — Johal Family Tru — Deed Of Trust · related $1.3M · Foothill Thrift & Loan
    — — Johal Trust — Deed Of Trust · related $100k · Sumitomo Bank
    — — Sandringham Trust — Deed Of Trust · related $1.8M · First Republic Bank
    — — Sandringham Trust — Deed Of Trust · related $1.7M · First Republic Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $2,230,000
      6.5%
      $2,060,000
      7%
      $1,915,000

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $2,530,000

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

    Location Insight

    • Map
    • Local Demand
    City
    San Mateo
    County
    San Mateo
    State
    California
    Longitude
    -122.325
    Latitude
    37.5637
    CBSA code
    41860
    CBSA name
    SAN FRANCISCO-OAKLAND-FREMONT, 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
    2024
    $43,872
    $2,929,030
    $795,377
    $3,724,407
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,420,000
      5,340 SF

      18 3rd Ave

      STORE/OFFICE (MIXED USE)
      18 3rd Ave, San Mateo, CA 94401-4011
      View Details
    • Value Estimation
      $2,075,000
      10,347 SF

      101 3rd Ave

      STORE/OFFICE (MIXED USE)
      101 3rd Ave, San Mateo, CA 94401
      View Details
    • Value Estimation
      $930,000
      4,120 SF

      45 B St

      STORE/OFFICE (MIXED USE)
      45 B St, San Mateo, CA 94401-3916
      View Details
    • Value Estimation by Request
      0.11 Acres

      501 1st Ave

      STORE/OFFICE (MIXED USE)
      501 1st Ave, San Mateo, CA 94401-3475
      View Details
    • Value Estimation by Request
      0.39 Acres

      210 Ellsworth Ave

      STORE/OFFICE (MIXED USE)
      210 Ellsworth Ave, San Mateo, CA 94401-4074
      View Details
    • Value Estimation by Request
      0.19 Acres

      330 B St

      STORE/OFFICE (MIXED USE)
      330 B St, San Mateo, CA 94401
      View Details

    Similar Nearby for Sale

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      San Mateo Mixed-Use Building

      Two-story building near Downtown San Mateo with flexible options.
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    • $2,200,000

      San Mateo Mixed-Use Opportunity

      Two-story building near Downtown San Mateo with flexible options.
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      View Details
    • $1,599,000
      2,317 SF

      Remodeled Mixed-Use Property

      Move-in ready mixed-use building with street-level commercial space and a separately accessed upper residential unit.
      869 Woodside Way, San Mateo, CA 94401
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    • Contact for pricing
      4,586 SF

      Remodeled Multi-Unit Investment Property

      Six remodeled units near Highway 101, downtown, and Caltrain.
      739 Amphlett Blvd, San Mateo, CA 94401
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    Similar Nearby for Lease

    • Contact for pricing

      San Mateo Office Space Available

      Office space for lease in easily accessible San Mateo location.
      205 E 3Rd Ave, San Mateo, CA 94401
      View Details
    • Contact for pricing
      6,559 SF

      San Mateo Flex / Industrial Space

      Flex / industrial space available for rent in San Mateo.
      333-345 S B St, San Mateo, CA 94401
      View Details
    • Contact for pricing
      1,905 SF

      Downtown San Mateo Office Space

      Office space in downtown San Mateo, close to CalTrain.
      100-122 2Nd Ave, San Mateo, CA 94401
      View Details
    • $6,320 /Mo
      5,654 SF

      Two-Story Flex Warehouse with Roll-Up Doors

      Two-story commercial warehouse flex space with multiple roll-up doors and high ceilings for logistics, office, or light industrial use.
      931 N Amphlett Blvd, San Mateo, CA 94401
      View Details

    Property Visit Statistics

    • Visits by month
      6.5k
    • Visitors by month
      6.1k
    • Avg Time on site
      44 min
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    San Mateo, CA 94401-4010
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    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
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