241 El Camino Real
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241 El Camino Real
9,721 SF 100% Leased Retail Building Menlo Park, CA 94025 $8,900,000 ($916/SF) 1.33% Cap Rate
INVESTMENT HIGHLIGHTS
- Substantial signage and frontage on El Camino Real
- Long Term anchor tenant and low occupancy rate
- High Vehicle Per Day Count
- Close proximity to Stanford Shopping Center, Sandhill Rd, public transportation and downtown Palo Alto
- Spacious rental units with upside potential in residential income
EXECUTIVE SUMMARY
Prime location with over 160+ of El Camino frontage! Heavy day and night pedestrian and car traffic. Mixed-use building with diversified set of long-term tenants. Vintage character with all modern amenities. Very well maintained and upgraded over the years. Class A, ADA compliant, +/- 5,065 sqft office space downstairs. Remodeled in 2019 and 2022 with industrial design, 10 ceilings, open office layout, polished concrete floors, contemporary kitchen and bathroom, glass conference rooms and private 600 sqft outdoor patio. Commercial anchor tenant lease ends in 2027. 3 spacious residential units upstairs in great condition, updated with A/C, newer vinyl floors, paint and countertops. No current vacancies. Ample parking. Downtown Menlo Park location on main thoroughfare to Stanford Shopping Center, Stanford University, and Palo Alto. Easy access to Sand Hill Road and leading tech campuses. Don't miss this exceptional investment opportunity!
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$313,140
|
$32.21
|
| Other Income |
$7,200
|
$0.74
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$320,340
|
$32.95
|
| Taxes |
$105,679
|
$10.87
|
| Operating Expenses |
$97,164
|
$10.00
|
| Total Expenses |
$202,843
|
$20.87
|
| Net Operating Income |
$117,497
|
$12.09
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $313,140 |
| Annual Per SF | $32.21 |
| Other Income | |
|---|---|
| Annual | $7,200 |
| Annual Per SF | $0.74 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $320,340 |
| Annual Per SF | $32.95 |
| Taxes | |
|---|---|
| Annual | $105,679 |
| Annual Per SF | $10.87 |
| Operating Expenses | |
|---|---|
| Annual | $97,164 |
| Annual Per SF | $10.00 |
| Total Expenses | |
|---|---|
| Annual | $202,843 |
| Annual Per SF | $20.87 |
| Net Operating Income | |
|---|---|
| Annual | $117,497 |
| Annual Per SF | $12.09 |
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
9,721 SF
Building Class
C
Year Built/Renovated
1918/2021
Price
$8,900,000
Price Per SF
$916
Cap Rate
1.33%
NOI
$118,095
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.49
Lot Size
0.46 AC
Zoning
SP-ECR-D - SP-ECR-D - El Camino Real/ Downtown Specific Plan
Parking
34 Spaces (3.5 Spaces per 1,000 SF Leased)
Frontage
160 FT on El Camino Real
AMENITIES
- Air Conditioning
MAJOR TENANTS
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Pear VC
- Finance and Insurance
- 5,065 SF
- $3.60
- Plus Utilities
- Mar 2027
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Pear VC | Finance and Insurance | 5,065 SF | $3.60 | Plus Utilities | Mar 2027 |
Walk Score®
Very Walkable (88)
Bike Score®
Biker's Paradise (100)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 071-413-360 | Total Assessment | $9,064,394 |
| Land Assessment | $9,006,496 | Annual Taxes | $105,679 ($10.87/SF) |
| Improvements Assessment | $57,898 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
071-413-360
Land Assessment
$9,006,496
Improvements Assessment
$57,898
Total Assessment
$9,064,394
Annual Taxes
$105,679 ($10.87/SF)
Tax Year
2023
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241 El Camino Real
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