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Property profile & analytics
FOR LEASE
Retail space
959 El Camino Real Millbrae, CA 94030
Entity Owned
2-yr Hold
Free & Clear
Property ID
US09-1341310
For Lease
1 / 2
$19,575,000
959 El Camino Real, Millbrae, CA 94030
View Listing →
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Total area
28,284 SF
Lot
1.81 ac (78,974 SF)
Zoning code
CL00C1
APN
021-364-080
UPID
US09-1341310
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
-
Primo Water Exchange Big Box & Wholesale Store
-
OfficeMax Courier Service Postal Service
-
Spirit Halloween (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$19.58M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$19.58M
Owner & transaction history
Hsr Meadow Glen LLC · 2 yrs held
Hsr Meadow Glen LLC
since 2024
Last sale
$19.6M
6 recorded transactions
Zoning & alternative use
CL00C1 · Millbrae, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$19.1M
+33.0%
Office building
$18.1M
+26.1%
Neighborhood: shopping center
$15.3M
+6.1%
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 Millbrae submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millbrae 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
$19,575,000
ML approach
$19,575,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$14,385,000
Current use
RESTAURANT
$19,125,000
Change: +33% · Conversion: Easy
OFFICE BUILDING
$18,145,000
Change: +26% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$15,265,000
Change: +6% · Conversion: Moderate
COMMERCIAL (GENERAL)
$13,070,000
Change: -9% · Conversion: Easy
AUTO REPAIR, GARAGE
$12,850,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$19.58M
Range $17.62M – $21.53M · ±10% · vs last sale $19.58M (Jan 16 2024)
Last sale anchor
$19.58M
Jan 16 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
$692 / 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
Tax billed
$31,597
Tax year 2023
Assessed value
$2,607,434
Assessed 2023
Previous assessed
$2,607,434
+0.0% YoY
Effective rate
1.21%
On assessed value
Assessed land
$883,669
Assessed improvement
$1,723,765
Applied tax rate
14.0000
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
For Lease
Heating
NONE
Stories
1
Total area
28,284 SF
Lot
1.81 ac (78,974 SF)
Zoning code
CL00C1
APN
021-364-080
UPID
US09-1341310
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
CL00C1 · Millbrae, CA
Zoning CL00C1 · permitted uses
CL00C1 · Millbrae, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Millbrae. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES Current
Est. value
$14.4M
RESTAURANT
Est. value
$19.1M
OFFICE BUILDING
Est. value
$18.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$15.3M
COMMERCIAL (GENERAL)
Est. value
$13.1M
AUTO REPAIR, GARAGE
Est. value
$12.9M
RETAIL STORES Current
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
Heating
NONE
Stories
1
Lot
1.81 ac
Current owner
From public records · entity-resolved
Hsr Meadow Glen LLC
Entity
Free & Clear · 2 yrs held
Mailing address
415 MSN ST, SAN FRANCISCO, CA 94105-2533
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 16, 2024
$19,575,000
Hsr Meadow Glen LLC
Bay Properties INC
Grant Deed
—
Dec 20, 2023
—
The City Of Millbrae
Bay Properties INC
Grant Deed
—
Aug 7, 2023
—
High Street No Cal Development INC
Bay Properties INC
Agreement Of Sale
—
Jan 4, 2019
—
Bay Properties INC
—
Grant Deed
related
$14,000,000 · First Republic Bk
Mar 14, 1997
$1,440,000
Bay Properties INC
Richard J Nasser Estate
Grant Deed
—
—
—
Bay Properties INC
—
Deed Of Trust
related
$5,600,000 · First Republic Bank
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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