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Property profile & analytics
FOR LEASE
Retail space
500 E 3Rd Ave San Mateo, CA 94401
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1229307
For Lease
1 / 2
$4,015,000
500 E 3Rd Ave, San Mateo, CA 94401
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Lot
0.13 ac (5,500 SF)
Zoning code
CH00C4
APN
034-185-120
UPID
US09-1229307
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
-
Edi's Quesabirrias & Tacos Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.84M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.02M
Owner & transaction history
Whpv Block 21 Owner LLC · 3 yrs held
Whpv Block 21 Owner LLC
since 2022
Last sale
$4.2M
7 recorded transactions
Zoning & alternative use
CH00C4 · San Mateo, 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 San Mateo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Mateo 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
$3,815,000
ML approach
$3,840,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$4.02M
Range $3.61M – $4.42M · ±10% · vs last sale $4.20M (Aug 2 2022)
Last sale anchor
$4.20M
Aug 2 2022
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
—
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
$54,157
Tax year 2024
Assessed value
$4,273,800
Assessed 2024
Previous assessed
$4,273,800
+0.0% YoY
Effective rate
1.27%
On assessed value
Assessed land
$4,273,800
Applied tax rate
12.0000
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
For Lease
Heating
NONE
Lot
0.13 ac (5,500 SF)
Zoning code
CH00C4
APN
034-185-120
UPID
US09-1229307
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
CH00C4 · San Mateo, CA
Zoning CH00C4 · permitted uses
CH00C4 · San Mateo, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Mateo. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
NONE
Lot
0.13 ac
Current owner
From public records · entity-resolved
Whpv Block 21 Owner LLC
Entity
Mailing address
530 EMERSON ST #150, PALO ALTO, CA 94301-1607
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 2, 2022
$4,200,000
Whpv Block 21 Owner LLC
Elenor Kun Lee
Grant Deed
$29,000,000 · Acore Capital Mortgage LP
Oct 22, 2018
—
Lee Living Trust
Lee Living Trust
Quit Claim Deed
related
—
Oct 4, 2018
—
Lee,wai J Trust
Knittel,ruth H
Quit Claim Deed
related
—
Jan 25, 2016
—
Lee,fong H & Elenor Trust
Lee Fong & Elenor Trust
Quit Claim Deed
related
—
Jun 17, 2014
—
Lee,fong H & Elenor K Trust
Lee Fong H
Quit Claim Deed
related
—
Oct 5, 2006
—
Lee Living Trust
Lee Living Trust
Quit Claim Deed
related
—
May 22, 2006
—
Lee Trust
Lee,richard T
Quit Claim Deed
related
—
Dec 30, 1996
—
Lee Trust
Lee,wai J
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
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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