Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    425 S Ellsworth Avenue San Mateo, CA 94401

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Office space for lease in San Mateo, California.

    Type:Office
    Property size:
    50,710 SF
    Added:
    Feb 26, 2026
    Days on Market:
    62
    Last Refresh:
    Feb 26 at 10:02 pm

    Property Features for 425 S Ellsworth Avenue

    General Information

    Standard status
    Active
    Size
    50,710 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Ben Stern

    Listing agent Ben Stern License #CalDRE #01365215

    Listing office Newmark | San Jose

    Listing date Feb 26, 2026

    Source Nmrk

    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 Newmark | San Jose

    Overview

    San Mateo Office Space Available

    This commercial real estate property offers office space for lease. The property provides a total space of 50710 square feet and is located at 425 S Ellsworth Avenue, San Mateo, CA 94401.
    Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    San Mateo
    County
    San Mateo
    State
    California
    Longitude
    -122.3317855
    Latitude
    37.5731256

    Nearby Similar for Lease

    • $20,230 SF/Yr

      San Mateo Commercial Lease Opportunity

      Two-story building with modern amenities available for lease.
      1009 S Claremont ST, SAN MATEO, CA 94402
      View Details
    • $6,320/Mo

      San Mateo Commercial Warehouses For Lease

      Versatile commercial space ideal for logistics, office, or light industrial.
      931 N Amphlett BLVD, SAN MATEO, CA 94401
      View Details
    • $6,320/Mo

      San Mateo Commercial Warehouses

      Versatile warehouses ideal for logistics, office, or light industrial uses.
      931 N Amphlett Blvd, San Mateo, CA 94401
      View Details
    • $12,000/Mo

      Renovated Office Space in San Mateo

      Move-in ready office space with modern upgrades and natural light.
      2575 Flores St, San Mateo, CA 94403
      View Details
    • $20,230 SF/Yr

      Two-Story Office Building For Rent

      Two-story office building with modern amenities available for rent.
      1009 S Claremont St, San Mateo, CA 94402
      View Details
    • Sponsored
      Contact for pricing

      Spaces Clocktower

      3 3Rd Ave, San Mateo, CA 94401
      View Details
    • $3 SF/Yr

      Downtown San Mateo Office Space

      Office space in downtown San Mateo, near Caltrain.
      700-800 South Claremont St, San Mateo, CA
      View Details
    • $78 SF/Yr

      Downtown San Mateo Office Space

      10,000 SF office space in excellent condition for lease.
      307 South B St, San Mateo, CA
      View Details
    • Contact for pricing

      San Mateo Office Space Available

      Office space for lease or sublease in San Mateo, CA.
      1875 S Grant St, San Mateo, CA 94402
      View Details
    • Contact for pricing

      Downtown San Mateo Office Space

      Class A+ office building with large floorplates and sustainable design.
      200 E. 4th Ave, San Mateo, CA 94401
      View Details
    • Contact for pricing

      Professional/Medical Office Space Available

      Professional/Medical office space for lease, near San Francisco International Airport.
      312 N San Mateo Drive, San Mateo, CA 94401
      View Details
    • Contact for pricing

      San Mateo Office Space Available

      Office space for lease with easy access to major freeways.
      1300 S El Camino Real, San Mateo, CA 94402
      View Details

    FAQs

    What type of property is this?
    Office units - Office space for lease in San Mateo, California.
    Where is this office units located?
    The property is located at 425 S Ellsworth Avenue San Mateo, CA.
    What are key features of this property?
    This property features: Office space for lease
    (650) 996-1484
    We can help!
    Listing Contact
    Ben Stern
    Real Estate License ID: CalDRE #01365215
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!