Mixed-Use Development Site Near
For Sale
$3,390,000
186 El Camino Real, Millbrae, CA 94030
Prime development site near transit for mixed-use building.
Property Size6,200 SF
Price / SF$546.77
Days on Market537
Property Features for 186 El Camino Real
General Information
Standard status
Active
Size
6,200 SF
Listing Agency:
SECURITY RLTY. & INV. CO.
Listed By:
HUMPHREY WOO · License #00775910
(415) 564-8488
Source:
Corcoran
Added: May 1, 2025
Changed: Mar 16
Last Checked: Sep 20 at 8:51AM
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 SECURITY RLTY. & INV. CO.
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Investment Insights
Based on property information with market context.
Located in the rapidly growing Millbrae Station Area Specific Plan, 186 El Camino Real presents a development opportunity for a mixed-use building. The zoning allows for structures up to 120 feet in height. This corner property features wide frontage and is suitable for various business uses. The property's location provides convenient access to BART and light-rail stations, as well as proximity to the freeway, bus lines, restaurants, and shops. The property has a size of 6200 square feet.
Key Highlights
- Prime development site in the Millbrae Station Area Specific Plan.
- Zoning allows for an impressive 120‑foot building height.
- Suitable for a mixed‑use building with residential units and a large commercial space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$200,283
Cap Rate
5.91%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,005,660
$4.0M
Cap Rate 7%
$2,861,186
$2.9M
Cap Rate 9%
$2,225,367
$2.2M
Market Conditions
NOI Build-Up for 6,200 SF
Gross rent
$425.6K $68.64/SF
− Vacancy
−$105.1K −$16.95/SF
EGI
$320.5K $51.69/SF
− OpEx
−$120.2K −$19.38/SF
NOI
$200.3K $32.30/SF
Area
San Mateo County, CA
Vacancy
24.70%
Lease Rate
$68.64 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,005,660
Cap Rate 7%
$2,861,186
Cap Rate 9%
$2,225,367
Alternative Uses
Best Use
Mixed Use
$2.86M
$2.50M – $3.34M
NOI $200,283 @ 7.0% cap · market cap 5.91%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.92M
$4.31M – $5.75M
NOI $344,731 @ 7.0% cap · market cap 10.17%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,185
Businesses Nearby
Explore this area
Business Placement
Demographics for 94030, CA
23,212
Population
8,566
Households
2.7
Avg Household Size
43
Median Age
50%
College-Educated
93%
High-School Grad
3.4 sq mi
ZIP Area
6,827
Density / Sq Mi
$157,567
Median Household Income
$74,128
Median Earnings
$3,401
Median Rent
$1,929,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Prime development site near transit for mixed-use building.
Where is this mixed-use property located?
The property is located at 186 El Camino Real Millbrae, CA.
What is the asking price?
The asking price for this property is $3,390,000.
What are key features of this property?
This property features: Prime development site in the Millbrae Station Area Specific Plan.; Zoning allows for an impressive 120‑foot building height.; Suitable for a mixed‑use building with residential units and a large commercial space.
