Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Prime Corner Lot in Burlingame Title is generated by Realmo AI

    2 Park Road, Burlingame, CA 94010

    View on Map
    Claim this Listing
    For Sale
    $11,500,000

    Iconic building site with development potential near downtown.

    Type:General Commercial
    Property size:
    11,000 SF
    Lot size:
    0.65 Acres
    Price / SF:
    $1,045/SF
    Added:
    Nov 9, 2023
    Days on Market:
    933
    Last Refresh:
    May 12 at 9:10 pm

    Property Features for 2 Park Road

    General Information

    Standard status
    Active
    Size
    11,000 SF
    Lot size
    0.65 Acres
    Property subtype
    General Commercial

    Building Details

    Year Built
    1959

    We can help!

    Listing Contact
    Listed by Victor E. Borelli

    Listing agent Listed by Victor E. Borelli

    Listing office DRE #00823134

    Listing date Nov 9, 2023

    Source Xome

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of DRE #00823134

    HighLights

    • Prime downtown Burlingame corner location.
    • Generous and dense zoning allowance for development.
    • Two parcels totaling 28212 s/f on a level lot.
    • Potential to acquire an acre plus by combining with adjacent properties.
    • 36 Parking Spaces.
    • Central Air Conditioning.

    Overview

    This property features an iconic building situated on a prime corner in downtown Burlingame. It is suitable for either an owner-user or a developer, benefiting from generous and dense zoning allowances. The property consists of two parcels, totaling 28,212 square feet on a level lot. It is located steps from downtown and El Camino Real. Adjacent owners have expressed interest in selling, potentially offering a prospective buyer or developer an acre plus.
    Property Profile Location Intelligence

    Current Use by Public Records

    Crosby-N. Gray & Co. ... Cremation Service Li Joan Social Service Agency

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Burlingame
    County
    San Mateo
    State
    California
    Longitude
    -122.343553
    Latitude
    37.575661

    Nearby Similar for Sale

    • $4,950,000
      7,296 SF

      Burlingame Multifamily Investment Opportunity

      Prime downtown location with high density residential zoning.
      121 Lorton Avenue, BURLINGAME, CA 94010
      View Details
    • $4,200,000
      5,204 SF

      Burlingame Mixed-Use Investment Opportunity

      Mixed-use property in downtown Burlingame with retail and residential units.
      1222 Broadway, Burlingame, CA 94010
      View Details
    • $6,500,000
      10,712 SF

      Burlingame Apartment Building For Sale

      11-unit apartment building in downtown Burlingame, excellent location.
      Floribunda Avenue, Burlingame, CA 94010
      View Details
    • $1,899,999

      Burlingame Triplex Investment Opportunity

      Fully leased triplex in prime Burlingame location.
      824 El Camino Real, Burlingame, CA 94010
      View Details
    • Contact for pricing
      2,858 SF

      Move-In Ready Office Space

      Office suites available near SFO with Bay and City views.
      851 Burlway Rd, Burlingame, CA
      View Details
    • $3,695,000
      7,182 SF

      Burlingame Multifamily Investment Opportunity

      Six-unit multifamily property in a desirable Burlingame location.
      Arundel Road, Burlingame, CA 94010
      View Details
    • $3,798,000
      6,318 SF

      Burlingame Mixed-Use Investment Opportunity

      Mixed-use property with residential and commercial units in prime location.
      Edgehill Drive, Burlingame, CA 94010
      View Details
    • $11,750,000
      25 SF

      Elevatored Apartment Building Near Burlingame Avenue

      20-unit apartment building with renovation upside, near Burlingame Avenue.
      1500 Newlands Avenue Burlingame, CA 94010, CA 94010
      View Details
    • $3,695,000
      7,182 SF

      Burlingame Multifamily Investment Opportunity

      Six-unit multifamily property in a desirable Burlingame location.
      2 Arundel Road, BURLINGAME, CA 94010
      View Details
    • $16,498,000
      23,075 SF

      Commercial

      1775 Marco Polo Way, BURLINGAME, CA 94010
      View Details
    • $4,485,000
      19,770 SF

      Burlingame Commercial Property for Sale

      Commercial property available in Burlingame, California, totaling 19,770 square feet.
      1727 Marco Polo Way, Burlingame, CA 94010
      View Details

    FAQs

    What type of property is this?
    Commercial land - Iconic building site with development potential near downtown.
    Where is this commercial land located?
    The property is located at 2 Park Road Burlingame, CA.
    What is the asking price?
    The asking price for this property is $11,500,000.
    What are key features of this property?
    This property features: Prime downtown Burlingame corner location.; Generous and dense zoning allowance for development.; Two parcels totaling 28212 s/f on a level lot.
    (650) 375-1111
    We can help!
    Listing Contact
    Listed by Victor E. Borelli
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2 Park Road, Burlingame, CA 94010
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!