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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    502 Spg St Redwood City, CA 94063-2429

    • Apartment buildings
    • 4,023 SF
    • 0.23 lot acres
    OFF-MARKET
    Value Estimations
    $740,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1158884
    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.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 502 Spg St

    Year built
    1950
    Lot size
    0.23 lot acres
    Property size
    4,023 SF
    Property type
    Apartment buildings
    APN
    053-243-010
    APU
    53243010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $700,000
      Market price range: $701k - $1.83M

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

    Location Insight

    • Map
    • Local Demand
    City
    Redwood City
    County
    San Mateo
    State
    California
    Longitude
    -122.221
    Latitude
    37.4852
    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
    $3,167
    $126,119
    $145,758
    $271,877
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $38,675,000
      196,812 SF

      353 Main St

      APARTMENT HOUSE (5+ UNITS) • 196,812 SF
      353 Main St, Redwood City, CA 94063-9803
      View Details
    • Value Estimation
      $5,790,000
      22,695 SF

      640 Veterans Blvd

      APARTMENT HOUSE (5+ UNITS) • 22,695 SF
      640 Veterans Blvd, Redwood City, CA 94063-1409
      View Details
    • Value Estimation
      $900,000
      3,252 SF

      1015 Warren St

      APARTMENT HOUSE (5+ UNITS) • 3,252 SF
      1015 Warren St, Redwood City, CA 94063-1223
      View Details
    • Value Estimation
      $1,750,000
      3,686 SF

      62 Winslow St

      APARTMENT HOUSE (5+ UNITS) • 3,686 SF
      62 Winslow St, Redwood City, CA 94063-1197
      View Details
    • Value Estimation
      $3,205,000
      12,427 SF

      348 4th Ave

      APARTMENT HOUSE (5+ UNITS) • 12,427 SF
      348 4th Ave, Redwood City, CA 94063-3768
      View Details
    • Value Estimation
      $3,245,000
      13,036 SF

      105 5th Ave

      APARTMENT HOUSE (5+ UNITS) • 13,036 SF
      105 5th Ave, Redwood City, CA 94063-3667
      View Details

    Similar Nearby for Sale

    • $1,899,000

      Remodeled Duplex in Friendly Acres

      Sprawling, remodeled ranch-style duplex on a corner lot.
      3232/3234 Page St, Redwood City, CA 94063
      View Details
    • $1,795,000

      Remodeled Duplex in Redwood City

      Turnkey duplex with modern amenities and spacious outdoor area.
      3519 Hoover St, Redwood City, CA 94063
      View Details
    • $4,875,000
      6,324 SF

      Redwood City Redevelopment Opportunity

      Corner lot near downtown Redwood City primed for redevelopment.
      Winslow St, Redwood City, CA 94063
      View Details
    • $9,500,000

      Porsche Collector's Dream Property

      Unique opportunity for Porsche enthusiasts or parts/service business.
      Spring St, Redwood City, CA 94063
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    • $3,256,000
      5,920 SF

      Redwood City Industrial Flex Building

      5,920 SF industrial flex building on 0.36 AC lot.
      32 Willow St, Redwood City, CA 94063
      View Details
    • $1,800,000
      3,300 SF

      Redwood City Equipment Rental Business

      Established Rental Yard, High ROI Potential
      416 D St, Redwood City, CA 94063
      View Details

    Similar Nearby for Lease

    • $363,127
      1,000 SF

      Cozy One-Bedroom Apartment

      Centrally located one-bedroom apartment with parking and on-site laundry.
      348 4Th Ave, Redwood City, CA 94063
      View Details
    • $4 SF/Yr
      12,283 SF

      Redwood City Office Space Available

      Office space in Redwood City with flexible floor plans.
      1629 Main St, Redwood City, CA 94063
      View Details
    • $81 SF/Yr
      3,290 SF

      Redwood City Office Space Available

      Office space with private offices, conference room, and open space.
      805 Veterans Blvd, Redwood City, CA 94063
      View Details
    • $1.95 SF/Yr
      7,841 SF

      Redwood City Warehouse with Yard

      Warehouse with secured yard space available for lease.
      2466 Bay Rd, Redwood City, CA 94063
      View Details
    • $2.00 SF/Yr
      817 SF

      Renovated Office Suites For Rent

      Recently renovated office suites in prime Redwood City location.
      234-710 Winslow St, Redwood City, CA 94063
      View Details
    • $6 SF/Yr
      14,886 SF

      New Redwood City Office Space

      Under construction office building near Caltrain in downtown Redwood City.
      550 Allerton St, Redwood City, CA 94063
      View Details
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    502 Spg St
    Redwood City, CA 94063-2429
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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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