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Property profile & analytics
FOR LEASE
Office buildings
540 University Ave Palo Alto, CA 94301
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US09-2916744
For Lease
1 / 2
$12,800,000
540 University Ave, Palo Alto, CA 94301
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1982
Construction
WOOD
Total area
15,000 SF
Lot
0.11 ac (5,001 SF)
Zoning code
CDCP
APN
120-03-032
UPID
US09-2916744
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
-
Gethired Inc Employment Agency Business Service Center
-
Innovation Partners Law Firm
-
Parking PA Park
-
Quantumwave Capital Financial Advisor
-
Fertility Physicians of Northern California: Preston Nelson H MD Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$12.80M
CAP Approach
CAP
$8.66M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$12.80M
Owner & transaction history
Thoits Bros INC · 2 yrs held
Thoits Bros INC
since 2024
Last sale
$12.8M
7 recorded transactions
Zoning & alternative use
CDCP · Palo Alto, 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 Palo Alto submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palo Alto 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
$12,800,000
ML approach
$12,800,000
CAP Approach
CAP Return
Estimation
6%
$9,380,000
6.5%
$8,660,000
7%
$8,040,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$17,920,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$15,415,000
Change: -14% · Conversion: Difficult
RETAIL STORES
$15,050,000
Change: -16% · Conversion: Moderate
Blend value · Realmo final
$12.80M
Range $11.52M – $14.08M · ±10% · vs last sale $12.80M (Jun 5 2024)
Last sale anchor
$12.80M
Jun 5 2024
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
$853 / 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 2023Property tax & assessments
Tax year 2023
Assessed value
$15,281,407
Assessed 2023
Previous assessed
$15,281,407
+0.0% YoY
Assessed land
$4,490,967
Assessed improvement
$10,790,440
Applied tax rate
6.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
For Lease
Year built
1982
Construction
WOOD
Heating
NONE
Cooling
YES
Stories
3
Total area
15,000 SF
Lot
0.11 ac (5,001 SF)
Zoning code
CDCP
APN
120-03-032
UPID
US09-2916744
Jurisdiction
SANTA CLARA
Zoning & alternative use
CDCP · Palo Alto, CA
Zoning CDCP · permitted uses
CDCP · Palo Alto, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palo Alto. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$17.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$15.4M
RETAIL STORES
Est. value
$15.1M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1982
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
3
Lot
0.11 ac
Current owner
From public records · entity-resolved
Thoits Bros INC
Entity
Mailing address
629 EMERSON ST, PALO ALTO, CA 94301-1610
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 5, 2024
$12,800,000
Thoits Bros INC
Williasm S Jarvis LLC
Grant Deed
—
May 27, 2020
—
William S Jarvis LLC
—
Deed
related
$3,350,000 · River City Bank
Jan 3, 2018
$2,382,500
William S Jarvis LLC
Tourzan Family Trust
Grant Deed
—
Nov 20, 2017
—
Tourzan Family Trust
540 University Owners LLC
Quit Claim Deed
related
—
Mar 8, 2017
—
540 University Owners
Tourzan Family Trust
Grant Deed
—
May 16, 2016
—
William S Jarvis LLC
Jtc
Quit Claim Deed
related
—
Feb 1, 2016
—
Jarvis LLC
Jtc
Grant Deed
—
Apr 16, 2013
—
Jtc
Jtc
Quit Claim Deed
related
$3,700,000 · Union Bank
—
—
Jtc
—
Deed Of Trust
related
$3,850,000 · Union Bank Of California
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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