560 Waverley StPalo Alto, CA 94301

Property Details for 560 Waverley St

Year built

1938

Construction

TILT-UP CONCRETE

Lot size

0.14 AC

Property size (Sq ft)

11,243 SF

Zone code

CDCGP

Property type

Office properties

Property subtype

Office buildings

APN

120-15-085

APU

12015085

Description

This exceptional two-unit commercial property, located at 560 Waverley Street in downtown Palo Alto, California, presents a unique investment opportunity. The 12,000-square-foot building, constructed in 1938 and situated on a 2-story structure, features a diverse tenant mix, currently occupied by a restaurant and a traditional office. Each unit encompasses approximately 6,000 square feet (50 x 123), offering ample space for various business needs. The ground floor unit is configured as a restaurant, while the upper level houses a traditional office space with an open layout, several private offices, a kitchenette, and a private entrance directly accessible from the adjacent parking lot. The property is zoned CDC (GF) (P) and boasts key features including HVAC, sprinklers, and a prime location within walking distance of Caltrain, numerous restaurants, and other amenities. The building benefits from its proximity to a City of Palo Alto public parking lot, ensuring convenient access for tenants and patrons. The asking price for this multi-tenant property is $25,000,000, and the lease type is NNN. The APN is 120-15-085. This property offers a compelling blend of established tenancy and significant potential for future growth in a highly desirable location. The property is located in Santa Clara County, with a zip code of 94301.

• CAP approach

  CAP return

  Valuation

  6%

  $5,702,721

  6.5%

  $5,264,050

  7%

  $4,888,046

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,748,343

  Geo Method

  $3,135,785

• Alternative Use

  Use

  Valuation

  Residential

  $6,527,422

  Hospitality

  $5,979,084

  Educational

  $4,974,527

  Medical

  $5,145,609

  Retail

  $7,738,154

Location Insight

City

Palo Alto

County

Santa Clara

State

California

Latitude

37.4464

Longitude

-122.16

CBSA code

41940

CBSA name

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

Property Tax & Assessments

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