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Property profile & analytics
OFF-MARKET
Estimated value
$30,000,000
Warehouses
573 Forbes Blvd South San Francisco, CA 94080-2019
Entity Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-1078274
Property profile
Verified
Property type
Warehouses
Use group
WAREHOUSE, STORAGE
Year built
1986
Total area
33,590 SF
Lot
2.83 ac (123,176 SF)
Zoning code
M2000H
APN
015-082-170
UPID
US09-1078274
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
-
Market Pioneer International Corporation Freight Service Logistics Company
-
Apex Logistics International SFO Inc. Freight Service Logistics Company
-
UTI United States Inc Customs Broker
-
Apex Logistics Inc Freight Service Logistics Company
-
Top Express USA Group Inc. Logistics Company Freight Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$30.00M
CAP Approach
CAP
$28.74M
Comparable Approach
Comparable
$20.23M
Blend (final)
Blend
$30.00M
Owner & transaction history
573 Forbes Blvd LLC · 2 yrs held
573 Forbes Blvd LLC
since 2024
Last sale
$30.0M
7 recorded transactions
Zoning & alternative use
M2000H · South San Francisco, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$22.7M
+57.2%
Office building
$21.5M
+49.2%
Neighborhood: shopping center
$18.1M
+25.5%
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 South San Francisco submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South San Francisco 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
$30,000,000
ML approach
$30,000,000
CAP Approach
CAP Return
Estimation
6%
$31,130,000
6.5%
$28,735,000
7%
$26,680,000
Alternative Use
Use
Estimation
RESTAURANT
$22,715,000
Change: +57% · Conversion: Difficult
OFFICE BUILDING
$21,545,000
Change: +49% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$18,125,000
Change: +25% · Conversion: Moderate
Blend value · Realmo final
$30.00M
Range $27.00M – $33.00M · ±10% · vs last sale $30.00M (Jan 8 2024)
Last sale anchor
$30.00M
Jan 8 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
$893 / 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
$341,311
Tax year 2024
Assessed value
$31,212,000
Assessed 2024
Previous assessed
$31,212,000
+0.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$31,159,980
Assessed improvement
$52,020
Applied tax rate
13.0000
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
1986
Heating
NONE
Total area
33,590 SF
Lot
2.83 ac (123,176 SF)
Zoning code
M2000H
APN
015-082-170
UPID
US09-1078274
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
M2000H · South San Francisco, CA
Zoning M2000H · permitted uses
M2000H · South San Francisco, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
South San Francisco. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$22.7M
OFFICE BUILDING
Est. value
$21.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$18.1M
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1986
Heating
NONE
Lot
2.83 ac
Current owner
From public records · entity-resolved
573 Forbes Blvd LLC
Entity
Free & Clear · 2 yrs held
Mailing address
1 THOMPSON SQ STE #301, CHARLESTOWN, MA 02129-3328
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 8, 2024
—
573 Forbes Blvd LLC
Prologis Uslv Subreit 2 LLC
Quit Claim Deed
related
—
May 6, 2022
$30,000,000
573 Forbes Blvd LLC
Rawb Holdings LLC
Grant Deed
$19,500,000 · Hincham Institution For Savings
Sep 30, 2015
$7,560,000
Rawb Holdings LLC
Miller Gary M Trust
Grant Deed
$5,745,000 · Wong Family Living Trust (lt)
Sep 23, 2005
—
Miller Gary M Trust
Miller,gary
Quit Claim Deed
related
—
Dec 27, 1999
$2,200,000
Gary Miller
G M Miller & Co Intl
Grant Deed
related
—
Sep 11, 1991
$2,602,500
Gm Miller & Co
Nickel,j.
Grant Deed
$995,000 · Bank Of America
—
—
John C Nickel
—
Deed Of Trust
related
$600,000 · 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.
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