Midtown Palo Alto Office with Upside 721 Colorado Ave 8,484 SF 70% Leased Office Building Online Auction Sale Palo Alto, CA 94303

721 Colorado Avenue provides a valuable entry point into the sought-after Midtown region of Palo Alto, offering a versatile office property with 6,584 square feet across two floors. Currently 70% occupied by a mix of short-term tenants, this rare opportunity presents an attractive option for businesses and investors to claim a prime spot within a premier commercial hub with rapidly growing rental rates.

Originally built in 1964, 721 Colorado Avenue provides a flexible floor plan that accommodates a wide range of businesses. Both levels of the property include functional open areas, private offices, and restrooms, with a conference room, breakroom, and several storage spaces on the first floor. The second floor features a bright balcony with seating, enhancing tenant appeal. It also boasts great curb appeal, with well-maintained landscaping and a cobblestone walkway leading to a covered entrance with canopy lighting. Parking at the property is made quick and easy for commuters and clients, thanks to an adjacent public parking lot, with free, all-day parking spaces. Currently, a vacant second-floor suite allows immediate occupancy by a new user who can leverage the in-place tenancy to offset operating costs while they scale into the full space.

Placement within Palo Alto’s vibrant Midtown positions tenants at 721 Colorado Avenue within an amenity-rich hub that enhances the work-life balance for employees. Situated just off the Intersection with Middlefield Road, the location allows workers to walk to quality retail options, including Safeway, CVS, Subway, and Round Table Pizza, as well as many popular local restaurants and service-oriented businesses. Reaching the property is also a breeze, with quick access to the Oregon Parkway and easy connections to the 101 and 82 highways. Just 1 mile away from Caltrain lines, public transportation users can also reach the property in one hour from San Francisco, 36 minutes from Milbrae, and 45 minutes from San Jose. Longer distance travel is also facilitated by the San Jose and San Francisco Airports, both just 18 miles away.

Midtown Palo Alto is one of the Bay Area’s most desirable office destinations, thanks to the presence of major technology companies, including HP, Deloitte, Amazon, AT&T, and Google’s sprawling headquarters. It serves as a prime investment environment, with some of the region’s highest rents and impressive year-over-year rent growth of 3.3%, driven by recent long-term space commitments by large institutions, alongside agile startups in the AI, robotics, and biotechnology industries. Supporting the more than 1,000 businesses located within 1 mile of 721 Colorado Avenue is a population of almost 24,000 and a workforce of over 7,000. With 80% of residents carrying a bachelor’s degree or higher, and average household incomes surpassing $217,000, there is a dependable pipeline of highly qualified new talent to promote continued growth. This pipeline is enhanced by nearby Stanford University, which consistently boasts placement within the top three universities in the nation for graduate programs in computer science, business, and medical research.

Claim a prestigious space for growing businesses or new investment with the flexible turnkey office property at 721 Colorado Avenue in Midtown Palo Alto.

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