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Property profile & analytics
OFF-MARKET
Estimated value
$1,655,000
Retail space
602 4th Ave San Mateo, CA 94401-3397
Entity Owned
19-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-3211219
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
2008
Total area
5,790 SF
Lot
0.27 ac (11,800 SF)
Zoning code
CL0C21
APN
034-189-080
UPID
US10-3211219
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
-
Al Carbon Pollos a la Brasa Restaurant
-
Panaderia Guatemalteca Tikal Bakery Specialty Food Shop
-
Munguia's Bakery Bakery Specialty Food Shop
-
La Placita Villatorres Clothing Store
-
AFEX Agent - La Placita Villatorres Bank Credit Union
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.28M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.66M
Owner & transaction history
602 Fourth Avenue LLC · 19 yrs held
602 Fourth Avenue LLC
since 2006
4 recorded transactions
Zoning & alternative use
CL0C21 · 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$2,465,000
6.5%
$2,275,000
7%
$2,110,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,675,000
Change: -5% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,630,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$1.66M
Range $1.49M – $1.82M · ±10%
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
$286 / 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
$66,377
Tax year 2024
Assessed value
$3,061,004
Assessed 2024
Previous assessed
$3,061,004
+0.0% YoY
Effective rate
2.17%
On assessed value
Assessed land
$1,773,247
Assessed improvement
$1,287,757
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
Off-Market
Year built
2008
Heating
NONE
Stories
1
Total area
5,790 SF
Lot
0.27 ac (11,800 SF)
Zoning code
CL0C21
APN
034-189-080
UPID
US10-3211219
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
CL0C21 · San Mateo, CA
Zoning CL0C21 · permitted uses
CL0C21 · 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
COMMERCIAL (GENERAL)
Est. value
$2.7M
AUTO REPAIR, GARAGE
Est. value
$2.6M
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2008
Heating
NONE
Stories
1
Lot
0.27 ac
Current owner
From public records · entity-resolved
602 Fourth Avenue LLC
Entity
Mailing address
615 E 3RD AVE STE F, SAN MATEO, CA 94401-3394
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
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
Mar 7, 2007
—
602 Fourth Avenue LLC
—
Trustees Deed
related
$2,500,000 · United Commercial Bank
Dec 1, 2006
$1,350,000
602 Fourth Avenue LLC
Benedetti Trust
Grant Deed
$675,000 · Far East National Bank
—
—
602 Fourth Ave LLC
—
Deed Of Trust
related
$2,500,000 · United Commercial Bank
—
—
602 Fourth Ave LLC
—
Deed Of Trust
related
$600,000 · Flynn Mmb Mortgage Fund
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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