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

    609 Price Ave Redwood City, CA 94063-1463

    • Office buildings
    • 10,393 SF
    • 0.78 lot acres
    OFF-MARKET
    Last Sale
    Mar 18, 2021
    $6,270,000
    Value Estimations
    $5,710,000
    Show details
    Cap Rate Potential
    7%
    Office buildings
    Location Intelligence
    Property ID
    US09-1358283
    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

    • Zena Andreani / Marriage Or Relationship Counselor / Counselor
    • Archway / Social Service Agency / Medical Clinic
    • Ward Deanna M MD / Physician
    • Sandra Preza / Counselor
    • Sarah Barnard / Counselor

    Property Details for 609 Price Ave

    Year built
    1970
    Lot size
    0.78 lot acres
    Property size
    10,393 SF
    Zone code
    IP0000
    Property type
    Office buildings
    APN
    052-402-100
    APU
    52402100

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,080,000
      ML approach
      $5,475,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $5,920,000
      6.5%
      $5,460,000
      7%
      $5,070,000

    • Alternative Use

      Use
      Estimation
      OFFICE BUILDING
      $7,080,000
      Current use
      RESTAURANT
      $7,030,000
      Change: -1% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Redwood City
    County
    San Mateo
    State
    California
    Longitude
    -122.23
    Latitude
    37.4935
    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
    $73,608
    $6,261,127
    $392,646
    $6,653,773
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      0.46 Acres

      647 Veterans Blvd

      OFFICE BUILDING (MULTI-STORY) • 0.46 Acres
      647 Veterans Blvd, Redwood City, CA 94063-1408
      View Details
    • Value Estimation
      $33,360,000
      119,730 SF

      1800 Seaport Blvd

      OFFICE BUILDING (MULTI-STORY) • 119,730 SF
      1800 Seaport Blvd, Redwood City, CA 94063-5543
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    • Value Estimation
      $12,300,000
      37,527 SF

      1629 Main St

      OFFICE BUILDING (MULTI-STORY) • 37,527 SF
      1629 Main St, Redwood City, CA 94063-2121
      View Details
    • Value Estimation
      $5,660,000
      11,449 SF

      610 Walnut St

      OFFICE BUILDING (MULTI-STORY) • 11,449 SF
      610 Walnut St, Redwood City, CA 94063-2049
      View Details
    • Value Estimation
      $16,660,000
      65,000 SF

      901 Marshall St

      OFFICE BUILDING (MULTI-STORY) • 65,000 SF
      901 Marshall St, Redwood City, CA 94063-2026
      View Details
    • Value Estimation
      $17,170,000
      66,343 SF

      1001 Marshall St

      OFFICE BUILDING (MULTI-STORY) • 66,343 SF
      1001 Marshall St, Redwood City, CA 94063-2052
      View Details

    Similar Nearby for Sale

    • $2,100,000
      2,500 SF

      Downtown Redwood City Office Building

      Single-tenant office building in downtown Redwood City, ideal for owner-user.
      777 Marshall St, Redwood City, CA 94063
      View Details
    • $4,998,000
      6,380 SF

      Redwood City Stand Alone Office

      Stand alone office building in Redwood City with flexible floorplan.
      550 Price Ave, Redwood City, CA 94063
      View Details
    • $4,998,000
      6,380 SF

      Redwood City Office Building Opportunity

      Stand-alone office building in Redwood City with flexible floor plan.
      Price Ave, 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
    • $3,990,000
      4,200 SF

      Redwood City Flex Space Available

      Flex space with parking, air conditioning, and modern amenities.
      730 Broadway St, Redwood City, CA 94063
      View Details
    • $4,000,000
      5,362 SF

      Redwood City Corner Location

      High-profile corner location near mixed-use developments and Keiser Permanente.
      705 Veterans Blvd, Redwood City, CA 94063
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      3,888 SF

      New Construction Office Building

      New Class A office building in downtown Redwood City.
      889 Winslow St, Redwood City, CA 94063
      View Details
    • $3 SF/Yr
      18,400 SF

      Redwood City Office Space Available

      Freestanding, furnished office building in downtown Redwood City.
      305 Main St, Redwood City, CA 94063
      View Details
    • Contact for pricing
      1,500 SF

      Redwood City Office Space Available

      Full building opportunity near Caltrain in Redwood City.
      1526 Stafford St, Redwood City, CA 94063
      View Details
    • Contact for pricing
      128,315 SF

      Redwood City Office and Life Science

      Class A office and life science building with amenities.
      1700 Seaport Blvd, 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
    • $2 SF/Yr
      13,717 SF

      Redwood City Office Building

      Single-tenant office building in downtown Redwood City available for lease.
      910 Marshall St, Redwood City, CA 94063
      View Details
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    609 Price Ave
    Redwood City, CA 94063-1463
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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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