800 San Antonio Rd
Palo Alto, CA 94303
Land For Sale · 0.88 AC

800 San Antonio Road represents the rare opportunity to obtain a fully approved and entitled development site within the heart of thriving Silicon Valley. Situated on a 0.88-acre site within the highly sought after city of Palo Alto, the subject site offers the ability to create a new community just a short distance from Stanford University, top high-tech employers, a vibrant shopping district, and recreation opportunities. The subject is approved for redevelopment with 75 residential condominiums contained in a five-story structure with two levels of subterranean parking. Floor plans include a mix of one-bedroom, two-bedroom, and three-bedroom units. Sixty of the units will be offered at market rate, with 15 units designated as below market rate. Additionally, there will be one commercial unit on the ground floor. The property is located in Palo Alto, which is credited as being the birthplace of Silicon Valley. The world’s largest technology companies are headquartered in the area, including Apple, Google, Facebook, Adobe, Intel, Cisco, and Nvidia. Silicon Valley consistently receives more than 40% of all venture capital funding in the United States and is a center of technological innovation. Palo Alto is at the heart of the most concentrated high-tech digital region in the world. San Antonio Road is a primary traffic carrier in Palo Alto; more than 32,000 vehicles pass the site each day. The site is about one-half mile from an interchange with US Highway 101, providing excellent regional access. Additionally, the San Antonio Caltrain station is one mile south of the site, making the property easily accessible from public transit. Palo Alto has a median household income of just over $200,000, which is more than double the national median household income of $70,784. Additionally, the city has a highly educated workforce; more than 80% of the labor force has a bachelor’s or graduate degree. Despite the high household income, housing affordability remains a challenge in Palo Alto, making condominiums an attractive option for first-time homebuyers and empty nesters looking to downsize. Palo Alto is known for having exceptional public schools, which is one of the primary demand drivers for housing in the city. Palo Alto Unified School District operates all public schools in the city. The property’s assigned elementary, middle, and high school all boast A+ ratings from Niche.com and have rankings of 8/10 or better from Great Schools. The elementary and middle schools are less than 1.5 miles from the site, while the high school is about 2.5 miles away.