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Property profile & analytics
OFF-MARKET
Estimated value
$2,360,000
Manufacturing properties
510 9th Ave San Mateo, CA 94402-1827
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1326127
Property profile
Verified
Property type
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Year built
1953
Total area
5,320 SF
Lot
0.12 ac (5,312 SF)
Zoning code
ML00M1
APN
033-312-030
UPID
US09-1326127
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.30M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.58M
Blend (final)
Blend
$2.36M
Owner & transaction history
Restaurant King LLC · 1 yrs held
Restaurant King LLC
since 2024
Last sale
$2.4M
4 recorded transactions
Zoning & alternative use
ML00M1 · San Mateo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.6M
+106.6%
Office building
$3.5M
+99.2%
Neighborhood: shopping center
$2.9M
+64.9%
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
$2,450,000
ML approach
$2,295,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
INDUSTRIAL (GENERAL)
$1,740,000
Current use
RESTAURANT
$3,595,000
Change: +107% · Conversion: Difficult
OFFICE BUILDING
$3,470,000
Change: +99% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,870,000
Change: +65% · Conversion: Difficult
RETAIL STORES
$2,580,000
Change: +48% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,460,000
Change: +41% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,415,000
Change: +39% · Conversion: Easy
WAREHOUSE, STORAGE
$2,035,000
Change: +17% · Conversion: Easy
Blend value · Realmo final
$2.36M
Range $2.12M – $2.60M · ±10% · vs last sale $2.35M (Jul 30 2021)
Last sale anchor
$2.35M
Jul 30 2021
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
$444 / 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
$28,965
Tax year 2024
Assessed value
$2,444,940
Assessed 2024
Previous assessed
$2,444,940
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$1,987,164
Assessed improvement
$457,776
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
Manufacturing properties
Use group
MANUFACTURING (LIGHT)
Status
Off-Market
Year built
1953
Heating
NONE
Rooms
6
Bathrooms
2
Total area
5,320 SF
Lot
0.12 ac (5,312 SF)
Zoning code
ML00M1
APN
033-312-030
UPID
US09-1326127
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
ML00M1 · San Mateo, CA
Zoning ML00M1 · permitted uses
ML00M1 · 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.
Alternative use value scenarios
Repositioning upside vs current use
INDUSTRIAL (GENERAL) Current
Est. value
$1.7M
RESTAURANT
Est. value
$3.6M
OFFICE BUILDING
Est. value
$3.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.9M
RETAIL STORES
Est. value
$2.6M
COMMERCIAL (GENERAL)
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.4M
WAREHOUSE, STORAGE
Est. value
$2.0M
INDUSTRIAL (GENERAL) Current
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1953
Heating
NONE
Rooms
6
Bathrooms
2
Lot
0.12 ac
Current owner
From public records · entity-resolved
Restaurant King LLC
Entity
Mailing address
609 ANACAPA LN, FOSTER CITY, CA 94404-3762
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2024
—
Restaurant King LLC
Espetus San Mateo INC
Deed
related
—
Jul 30, 2021
$2,350,000
Espetus San Mateo INC
Bailey Rug & Upholstery Cleaners In
Grant Deed
—
—
—
Rug Bailey
—
Deed Of Trust
related
$650,000 · Mccoy Trust
—
—
Rug Bailey
—
Deed Of Trust
related
$45,000 · Salvatore Voto
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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