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Property profile & analytics
OFF-MARKET
Estimated value
$28,110,000
Warehouses
477 Hbr Blvd Belmont, CA 94002-4019
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US09-0102753
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
2007
Total area
87,614 SF
Lot
1.65 ac (71,915 SF)
Zoning code
M10000
APN
046-041-220
UPID
US09-0102753
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
-
Extra Space Storage Storage Facility
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$31.78M
Blend (final)
Blend
$28.11M
Owner & transaction history
Extra Space Proerties 121 LLC · 8 yrs held
Extra Space Proerties 121 LLC
since 2017
7 recorded transactions
Zoning & alternative use
M10000 · Belmont, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$44.6M
+32.9%
Commercial (general)
$40.5M
+20.8%
Auto repair, garage
$39.8M
+18.7%
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 Belmont submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Belmont 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$33,525,000
Current use
RETAIL STORES
$44,555,000
Change: +33% · Conversion: Moderate
COMMERCIAL (GENERAL)
$40,490,000
Change: +21% · Conversion: Difficult
AUTO REPAIR, GARAGE
$39,800,000
Change: +19% · Conversion: Easy
APARTMENT HOUSE (5+ UNITS)
$30,305,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$28.11M
Range $25.30M – $30.92M · ±10%
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
$321 / 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
$140,389
Tax year 2024
Assessed value
$12,688,343
Assessed 2024
Previous assessed
$12,688,343
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$4,675,866
Assessed improvement
$8,012,477
Applied tax rate
53.0000
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
Warehouses
Use group
WAREHOUSE, STORAGE
Status
Off-Market
Year built
2007
Heating
NONE
Total area
87,614 SF
Lot
1.65 ac (71,915 SF)
Zoning code
M10000
APN
046-041-220
UPID
US09-0102753
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
M10000 · Belmont, CA
Zoning M10000 · permitted uses
M10000 · Belmont, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Belmont. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE Current
Est. value
$33.5M
RETAIL STORES
Est. value
$44.6M
COMMERCIAL (GENERAL)
Est. value
$40.5M
AUTO REPAIR, GARAGE
Est. value
$39.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$30.3M
WAREHOUSE, STORAGE Current
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
APARTMENT HOUSE (5+ UNITS)
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
2007
Heating
NONE
Lot
1.65 ac
Current owner
From public records · entity-resolved
Extra Space Proerties 121 LLC
Entity
Mailing address
PO BOX 71870, SALT LAKE CITY, UT 84171-0870
Ownership since
2017
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 27, 2017
—
Extra Space Proerties 121 LLC
Extra Sace Proerties Sevent Ll
Quit Claim Deed
related
$81,000,000 · Zions First Nat'l Bk
Nov 24, 2010
—
Extra Space Props Seventy LLC
Extra Space Of Belmont LLC
Quit Claim Deed
$40,000,000 · Compass Bank
Dec 20, 2005
$3,500,000
Extra Space Of Belmont LLC
Schuttpelz R P & C Trust
Grant Deed
—
Aug 11, 1993
—
Bartlett Trust
Bartlett Trust
Quit Claim Deed
related
—
May 11, 1992
—
Robert&carol Schuttpelz Trust
Schuttpelz,c.
Quit Claim Deed
related
—
Jan 12, 1990
—
Richard Barlett
Allen Barlett Tr
Quit Claim Deed
related
—
—
—
Extra Space Properties 121 LLC
—
Deed Of Trust
related
$81,000,000 · Zions First Nat'l Bk
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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