979 Broadway Millbrae, CA 94030
Super regional malls
Google Maps
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
For Lease
1 / 6
$7,158/Mo
979 Broadway, Millbrae, CA 94030
View Listing →
Estimated value (blended)
$16.88M
Range $15.19M – $18.57M (±10%)
Property ID
US10-3198335
Property profile
Verified
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Year built
1968
Total area
57,177 SF
Lot
1.11 ac (48,496 SF)
Zoning code
CL00C1
APN
021-362-310
UPID
US10-3198335
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$18.86M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$16.88M
Owner & transaction history
since 2019
6 recorded transactions
Zoning & alternative use
CL00C1 · Millbrae, CA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
17% off on annual
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
2 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Summary
1
Valuation conclusion
Included free
Estimated market value
$16.88M
Value range
$15.19M – $18.57M
±10% around blend
Estimated value / SF
$295 / SF
Confidence
Property data
88
Market benchmarks
33
Comparable evidence
60
Income certainty
100
$15.19M
blend $16.88M
$18.57M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
57,177 SF
Lot area
1.11 ac
Year built
1968
Stories
2
APN
021-362-310
Assessed value
$29,856,536
Annual tax
$372,296
3
Income approach: direct capitalization
Partial preview
Income approach indication
$18.86M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$20.44M
@ 6.5% CAP return
$18.86M
@ 7% CAP return
$17.52M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$372,296
Selected cap rate
4
Sales comparison
Partial preview
Too few qualifying comparables for a sales-approach estimation.
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$16.88M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 23 sales
$540
-45%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $295/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Modeled
Market rent
Market benchmark
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
NOI build-up · 9 steps
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Selected market yield
505.66%
Selected cap rate for this super regional malls
Derived from the Millbrae market rent, vacancy and expense benchmarks for this use type.
NOI (est.)
$36k *
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$7k
Move the market yield to see immediate price impact.
Value / SF
$0
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
505.16%505.66%506.16%
$33k
$6k
$6k
$6k
$36k
$7k
$7k
$7k
$40k
$8k
$8k
$8k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$372,296
Tax year 2024
Assessed value
$29,856,536
Assessed 2024
Previous assessed
$29,856,536
+0.0% YoY
Effective rate
1.25%
On assessed value
Assessed land
$16,404,691
Assessed improvement
$13,451,845
Applied tax rate
14.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Super regional malls
Use group
REGIONAL SHOPPING CENTER, MALL
Status
For Lease
Year built
1968
Heating
NONE
Stories
2
Total area
57,177 SF
Lot
1.11 ac (48,496 SF)
Zoning code
CL00C1
APN
021-362-310
UPID
US10-3198335
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
CL00C1 · Millbrae, CAZoning CL00C1 · permitted uses
CL00C1 · Millbrae, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1968
Heating
NONE
Stories
2
Lot
1.11 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
CL00C1
Jurisdiction
Millbrae, CA
Recorded code
CL00C1
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for CL00C1 in Millbrae, CA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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