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Property profile & analytics
FOR LEASE
Life science properties
974 Commercial St Palo Alto, CA 94303
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-2515092
For Lease
1 / 2
$5,035,000
974 Commercial St, Palo Alto, CA 94303
View Listing →
Property profile
Verified
Property type
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Year built
1959
Construction
TILT-UP CONCRETE
Total area
8,000 SF
Lot
0.35 ac (15,394 SF)
Zoning code
GM
APN
147-01-040
UPID
US09-2515092
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
-
Outcome Driven Innovation (ODI) Engineering Consultant
-
SeaDrone Inc. Production Facility
-
Angry Stag Industrial Manufacturer Production Facility
-
1World Online, Inc. (Bike/Boat/Book/etc) Store Corporate Office
-
Field Architecture Architect
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.84M
Blend (final)
Blend
$5.04M
Owner & transaction history
Vintage Properties LLC · 3 yrs held
Vintage Properties LLC
since 2023
Last sale
$5.1M
6 recorded transactions
Zoning & alternative use
GM · Palo Alto, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$8.2M
+79.9%
Retail stores
$8.0M
+75.7%
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 Palo Alto submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palo Alto 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
$4,935,000
ML approach
$4,995,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL
$4,570,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$8,220,000
Change: +80% · Conversion: Difficult
RETAIL STORES
$8,025,000
Change: +76% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$4,165,000
Change: -9% · Conversion: Difficult
Blend value · Realmo final
$5.04M
Range $4.53M – $5.54M · ±10% · vs last sale $5.10M (Jan 10 2023)
Last sale anchor
$5.10M
Jan 10 2023
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
$629 / 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
$62,708
Tax year 2024
Assessed value
$5,202,000
Assessed 2024
Previous assessed
$5,202,000
+0.0% YoY
Effective rate
1.21%
On assessed value
Assessed land
$3,570,000
Assessed improvement
$1,632,000
Applied tax rate
6.0000
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
Life science properties
Use group
R&D FACILITY, LABS, PHARMA
Status
For Lease
Year built
1959
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
NONE
Stories
2
Units
1
Total area
8,000 SF
Lot
0.35 ac (15,394 SF)
Zoning code
GM
APN
147-01-040
UPID
US09-2515092
Jurisdiction
SANTA CLARA
Zoning & alternative use
GM · Palo Alto, CA
Zoning GM · permitted uses
GM · Palo Alto, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palo Alto. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL Current
Est. value
$4.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.2M
RETAIL STORES
Est. value
$8.0M
APARTMENT HOUSE (5+ UNITS)
Est. value
$4.2M
R&D FACILITY, LABORATORY, RESEARCH FACILITY, COSMETICS, PHARMACEUTICAL Current
NEIGHBORHOOD: SHOPPING CENTER
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
1959
Construction
TILT-UP CONCRETE
Heating
NONE
Cooling
Yes
Stories
2
Units
1
Lot
0.35 ac
Current owner
From public records · entity-resolved
Vintage Properties LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1390 N MCDOWELL BLVDG324, SANTA ROSA, CA 95407
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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 10, 2023
$5,100,000
Vintage Properties LLC
Shak Properties LLC
Grant Deed
—
Feb 13, 2014
—
Shak Properties LLC
Parks Ruette E Trust
Grant Deed
related
—
Sep 13, 2013
—
Shak Properties LLC
Erin R Parks
Grant Deed
$900,000 · Wells Fargo Bank NA
Aug 23, 2012
—
Parks Ruette E Trust
Parks,ruette E
Quit Claim Deed
related
—
Dec 4, 2001
—
Woods Trust
Woods,james D
Quit Claim Deed
related
—
Oct 18, 1996
$133,000
Parks Trust
Call,norman B
Quit Claim Deed
related
—
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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