385 Sherman AvePalo Alto, CA 94301

Property Details for 385 Sherman Ave

Year built

2017

Construction

CONCRETE

Lot size

0.64 AC

Property size (Sq ft)

67,974 SF

Zone code

CC2

Property type

Office properties

Property subtype

Office buildings

APN

124-33-055

APU

12433055

Description

This exceptional Class A office building, located at 385 Sherman Ave in Palo Alto, California, presents a unique investment opportunity. The Mayfield Office Building boasts a total of 63,618 square feet of space, currently entirely vacant and ready for immediate occupancy. The three-story building sits on a 0.6-acre lot and offers ample parking with 4 spaces available. The property is ideally suited for a single tenant seeking a large, prestigious space or multiple tenants looking for executive office suites. The building's executive office subtype caters to businesses requiring a high-end, professional environment. Beyond the primary office space, the property includes four residential units totaling 4,356 square feet located at the rear of the building. Adding to its unique appeal, 1,593 square feet of balcony space is currently leased for public art display, providing a potential revenue stream or unique branding opportunity. The building's prime location in Santa Clara County, within the desirable 94301 zip code, offers excellent access to transportation, amenities, and a highly skilled workforce. This is a rare chance to acquire a substantial, fully vacant, Class A office building in a highly sought-after location. The property's size and features make it an ideal candidate for a variety of uses, from a single large corporate headquarters to a collection of smaller executive suites. Contact us today to learn more about this exceptional opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $42,223,212

  6.5%

  $38,975,272

  7%

  $36,191,324

• Comparable approach

  Method

  Valuation

  Relative Method

  $32,920,352

  Geo Method

  $18,958,628

• Alternative Use

  Use

  Valuation

  Residential

  $48,329,340

  Hospitality

  $44,269,416

  Educational

  $36,831,632

  Medical

  $38,098,328

  Retail

  $57,293,652

Location Insight

City

Palo Alto

County

Santa Clara

State

California

Latitude

37.4262

Longitude

-122.143

CBSA code

41940

CBSA name

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

Property Tax & Assessments

FAQs

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