706 Cowper StPalo Alto, CA 94301

Property Details for 706 Cowper St

Year built

1894

Construction

WOOD

Lot size

0.23 AC

Property size (Sq ft)

7,163 SF

Zone code

PC

Property type

Office properties

Property subtype

Office buildings

APN

120-16-045

APU

12016045

Description

This exceptional 7,163 square foot Class B office building, known as the Downing House, is a meticulously preserved historic landmark listed on the National Register of Historic Places. Built in 1894, this Queen Anne-style building boasts a prominent location in downtown Palo Alto, within walking distance of numerous restaurants, shops, and amenities. The Caltrain station is conveniently located just six blocks away. The property sits on a 0.23-acre lot (approximately 10,050 square feet) and features a layout that includes private offices on the first and second floors, and a single-tenant suite on the smaller third floor. A substantial 2,149 square foot basement, accessible via a private exterior entrance, offers additional space including conference rooms and private offices with ample natural light. The property is zoned PC-3007 and is offered as a gross lease with multi-tenant occupancy. This presents a unique opportunity to acquire a prestigious historic building in a prime downtown Palo Alto location, ideal for either leasing to multiple tenants or owner-occupancy. The property's rich history and desirable location offer significant potential for future growth and return on investment. The APN is 120-16-045.

• CAP approach

  CAP return

  Valuation

  6%

  $3,633,246

  6.5%

  $3,353,766

  7%

  $3,114,211

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,662,313

  Geo Method

  $1,997,832

• Alternative Use

  Use

  Valuation

  Residential

  $4,158,670

  Hospitality

  $3,809,319

  Educational

  $3,169,309

  Medical

  $3,278,306

  Retail

  $4,930,036

Location Insight

City

Palo Alto

County

Santa Clara

State

California

Latitude

37.4464

Longitude

-122.157

CBSA code

41940

CBSA name

SAN JOSE-SUNNYVALE-SANTA CLARA, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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