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Property profile & analytics
FOR LEASE
Office buildings
909 Montgomery St San Francisco, CA 94133
Entity Owned
15-yr Hold
~
Est. High Equity
Property ID
US09-6148150
For Lease
1 / 3
$32,755,000
909 Montgomery St, San Francisco, CA 94133
View Listing →
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1983
Construction
TILT-UP CONCRETE
Total area
110,000 SF
Lot
0.43 ac (18,906 SF)
Zoning code
C2
APN
0163 -005
UPID
US09-6148150
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
-
Source SF General Contractor
-
Jackson & Hertogs LLP Law Firm
-
Jackson Square Aviation Llc Freight Service Logistics Company
-
Gobi Capital Financial Advisor
-
American Himalayan Foundation Charitable Organization
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$44.48M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$32.76M
Owner & transaction history
Westlake Montgomery Office LLC · 15 yrs held
Westlake Montgomery Office LLC
since 2011
5 recorded transactions
Zoning & alternative use
C2 · San Francisco, 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 Francisco submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$48,185,000
6.5%
$44,480,000
7%
$41,300,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$52,725,000
Current use
RETAIL STORES
$47,940,000
Change: -9% · Conversion: Moderate
APARTMENT HOUSE (5+ UNITS)
$47,060,000
Change: -11% · Conversion: Easy
Blend value · Realmo final
$32.76M
Range $29.48M – $36.03M · ±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
$298 / 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
$641,297
Tax year 2024
Assessed value
$72,185,693
Assessed 2024
Previous assessed
$72,185,693
+0.0% YoY
Effective rate
0.89%
On assessed value
Assessed land
$28,829,409
Assessed improvement
$43,356,284
Applied tax rate
1.0000
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
1983
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
6
Total area
110,000 SF
Lot
0.43 ac (18,906 SF)
Zoning code
C2
APN
0163 -005
UPID
US09-6148150
Jurisdiction
SAN FRANCISCO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
C2 · San Francisco, CA
Zoning C2 · permitted uses
C2 · San Francisco, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Francisco. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$52.7M
RETAIL STORES
Est. value
$47.9M
APARTMENT HOUSE (5+ UNITS)
Est. value
$47.1M
OFFICE BUILDING Current
RETAIL STORES
APARTMENT HOUSE (5+ UNITS)
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
1983
Construction
TILT-UP CONCRETE
Heating
NONE
Stories
6
Lot
0.43 ac
Current owner
From public records · entity-resolved
Westlake Montgomery Office LLC
Entity
Mailing address
PO BOX 130667, CARLSBAD, CA 92013-0667
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2011
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 25, 2011
—
Westlake Montgomery Office LLC
Chang Income Property Ptshp LP
Grant Deed
related
—
Jul 20, 2006
—
Chang Income Property Ptshp
Westlake Dev Co INC
Grant Deed
related
—
Feb 20, 2003
—
Development Westlake
—
Deed Of Trust
related
$90,000,000 · Citicorp USA Corp
—
—
Westlake Montgomery Office LLC
—
Deed Of Trust
related
$7,750,000 · Hsbc Bank USA
—
—
Develop Westlake
—
Deed Of Trust
related
$6,000,000 · Sanwa Bank 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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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