Skip to main content

Office

Downtown Palo Alto Office Building

489-499 Middlefield Rd, Palo Alto, CA 94301

Listing Price: $4,100,000

Gross SF
2,880
Rentable SF
2,880
Price/Gross SF
$1,423.61
Lot Size
0.26 acres
Year Built
1959

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 489-499 Middlefield Road in Palo Alto, CA. The subject property is a two-tenant office building that was originally constructed in 1959 and measures +/- 2,880 gross square feet. The building is situated on a rectangular 0.25-acre parcel located at the intersection of University Avenue and Middlefield Road and is passed by more than 30,000 vehicles each day. Curb cuts along Middlefield Road and University Avenue provide access to the site. There are 15 parking spaces on site for a ratio of 5.20 spaces per 1,000 square feet. Currently, Suite 489 is leased to Stanford Chiropractic Center on a lease that runs through April 2026; contact agent for more details. The space is configured with a waiting room, reception/work area, four treatment rooms, storage room, office, and restroom. Suite 499 is occupied by the seller and will be delivered vacant at close of escrow. This space is configured with a reception and waiting room, three private offices, a conference room, break room, and storage room. There are two common area restrooms with exterior access. 489-499 Middlefield Road is ideal for a tenant or user who desires a high-identity location with excellent access and proximity to amenities. The University Avenue/US Highway 101 interchange is less than one mile away and the Palo Alto Caltrain station is about 15 minutes’ walking distance. Additionally, the building is a short walk to amenities in downtown Palo Alto, which is a regional shopping and entertainment destination. There are dozens of cafes, restaurants, cocktail lounges, boutiques, and other shops within easy walking distance of the property.

Investment Highlights

  • Two-tenant office building totaling +/-2,880 square feet
  • High-identity location at the corner of University Avenue and Middlefield Road
  • 15 on-site parking spaces for a ratio of 5.20 / 1,000 SF
  • Suite 489 is leased to Stanford Chiropractic Center through April 2026
  • Suite 499 is owner-occupied and will be vacant at close of escrow
  • Walking distance to numerous restaurants, shops, and other retailers in downtown Palo Alto
  • Less than one mile to US Highway 101 and Palo Alto Caltrain station

Exclusively Listed By

Office

Downtown Palo Alto Office Building

Listing Price: $4,100,000

Gross SF
2,880
Rentable SF
2,880
Price/Gross SF
$1,423.61
Lot Size
0.26 acres
Year Built
1959

Investment Highlights

  • Two-tenant office building totaling +/-2,880 square feet
  • High-identity location at the corner of University Avenue and Middlefield Road
  • 15 on-site parking spaces for a ratio of 5.20 / 1,000 SF
  • Suite 489 is leased to Stanford Chiropractic Center through April 2026
  • Suite 499 is owner-occupied and will be vacant at close of escrow
  • Walking distance to numerous restaurants, shops, and other retailers in downtown Palo Alto
  • Less than one mile to US Highway 101 and Palo Alto Caltrain station

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 489-499 Middlefield Road in Palo Alto, CA. The subject property is a two-tenant office building that was originally constructed in 1959 and measures +/- 2,880 gross square feet. The building is situated on a rectangular 0.25-acre parcel located at the intersection of University Avenue and Middlefield Road and is passed by more than 30,000 vehicles each day. Curb cuts along Middlefield Road and University Avenue provide access to the site. There are 15 parking spaces on site for a ratio of 5.20 spaces per 1,000 square feet. Currently, Suite 489 is leased to Stanford Chiropractic Center on a lease that runs through April 2026; contact agent for more details. The space is configured with a waiting room, reception/work area, four treatment rooms, storage room, office, and restroom. Suite 499 is occupied by the seller and will be delivered vacant at close of escrow. This space is configured with a reception and waiting room, three private offices, a conference room, break room, and storage room. There are two common area restrooms with exterior access. 489-499 Middlefield Road is ideal for a tenant or user who desires a high-identity location with excellent access and proximity to amenities. The University Avenue/US Highway 101 interchange is less than one mile away and the Palo Alto Caltrain station is about 15 minutes’ walking distance. Additionally, the building is a short walk to amenities in downtown Palo Alto, which is a regional shopping and entertainment destination. There are dozens of cafes, restaurants, cocktail lounges, boutiques, and other shops within easy walking distance of the property.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower