Listed by DEAL Real Estate Services
$18,000,000
4115 El Camino Real
Details
APN 132-66-001-011
Property Type Retail, Multifamily
Sub Type Shopping Center, Traditional Office
Square Footage 22,196
Units 11
Cap Rate 5.00%
Tenancy Vacant
Lease Type NNN
Pro-Forma NOI $1,100,362
Class A
Year Built 2025
Buildings 1
Lot Size (SqFt) 15,435
Zoning Neighborhood Commercial
Parking Spaces 49 spaces
Parking per 1,000 SqFt 2.21
Investment Type Stabilized
Retail | 5.00% CAP | 22,196 SqFt
Marketing description
Institutional acquisition opportunity for a completed Class A mixed-use asset in Palo Alto, California. Delivered in 2025 and never occupied, the property comprises 11 income-producing units — 2 ground-floor retail suites (NNN), 2 second-floor office suites (NNN), and 7 residential condominiums including 1 BMR unit — totaling 22,196 rentable square feet with 14 underground parking spaces, dedicated bike storage, and tenant storage. The property is offered as a whole-asset acquisition to a single institutional buyer.
Investment highlights
- Complete, institutional-quality asset — zero construction risk. Delivered in 2025 to Class A institutional standards and never occupied. No deferred maintenance, no completion risk, no material capital expenditure required. Ready for immediate lease-up and stabilization by an acquiring institutional owner.
- Extreme supply constraint — genuine scarcity value. No comparable Class A mixed-use new-construction inventory exists in the Palo Alto submarket. Multi-year construction pressures and severe zoning restrictions have produced minimal delivery of similar product over the past decade. The subject property represents a rare fully-entitled, institutionally-finished, never-occupied acquisition opportunity
- Diversified income across four streams. Eleven income-producing units delivered as a single institutional asset: two ground-floor retail suites, two second-floor office suites, seven residential condominiums (including one Below Market Rate unit administered by Alta Housing), fourteen underground parking spaces with dedicated bike storage and tenant storage. Diversification reduces income concentration risk and provides multiple lease-up pathways.
- Fully NNN commercial structure. All four commercial suites structured on a Triple Net (NNN) basis, materially reducing landlord operating expense exposure. Warm-shell delivery accommodates tenant-specific improvements without seller obligation.
- Projected stabilized NOI of $1,100,362. Projected Gross Potential Income of $1,417,992 at market-rate lease-up. Operating expense ratio of 22.4% reflecting NNN-heavy income mix. Projected Stabilized Net Operating Income of $1,100,362 supporting institutional value at cap rates of 4.0% to 5.0%.
- Proximity to premier employment and education centers. Stanford University (approximately 17,000 students, 2,300 faculty). Stanford Health Care (Bay Area's leading academic medical center). Page Mill Road technology corridor (home to Sequoia Capital, Andreessen Horowitz, and other venture firms). Palo Alto median home price of approximately $3.208 million demonstrates the buying power of the local demographic.
- Palo Alt o trophy cap rate positioning. Palo Alto identified by JM Henderson CRE as one of Bay Area's trophy submarkets where Bay Area Class A product trades at 3.85% to 4.10% cap rates on stabilized numbers. Broader institutional Class A cap rates hold at 4.25% to 4.75%.
- Multiple institutional buyer pathways. Long-term hold for stabilized cash flow. Value-add repositioning through active leasing. Component optimization across residential rental and commercial credit-tenant strategies. Long-hold institutional multifamily fund acquisition. Family office or private equity trophy positioning.
- Entire mixed-use building offered for sale at $18,000,000.
- Separate lease listings for:
- 7 residential units
- 2 office suites
- 2 ground-floor retail spaces
Listing Contacts
Listed by DEAL Real Estate Services
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