Building Details

Tenancy Single

Listing Agency: Sperry Commercial | AIM Commercial Real Estate Show Phone

Listed By: David A. Collantes · License #820009 Show Phone

Source: Moodyscre

Added: Nov 29, 2023 Changed: Oct 26 Last Checked: Oct 26 at 5:38PM

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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 Sperry Commercial | AIM Commercial Real Estate

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Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This is a single-tenant retail storefront property that is currently occupied under a month-to-month lease. The asset is positioned for either a leased investment with potential upside or an owner-user opportunity, with redevelopment potential noted in the current offering materials. The property totals 6,100 square feet.

The site is located at 1464 El Camino Real in Belmont, CA 94002. The offering also references high average daily traffic counts and high income demographics in the surrounding area.

As presented, the property supports a retail or office use configuration, with the current tenancy remaining in place on a month-to-month basis.

Key Highlights

• Leased single‑tenant retail or office storefront available for sale or lease
• Tenant is on a month‑to‑month lease
• High average daily traffic counts

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$155,773

Cap Rate

6.23%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,115,460 $3.1M

Cap Rate 7%

$2,225,329 $2.2M

Cap Rate 9%

$1,730,811 $1.7M

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,100 SF

Gross rent

$233.5K $38.28/SF

− Vacancy

−$11.0K −$1.80/SF

EGI

$222.5K $36.48/SF

− OpEx

−$66.8K −$10.94/SF

NOI

$155.8K $25.54/SF

Area

San Mateo County, CA

Vacancy

4.70%

Lease Rate

$38.28 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,115,460

Cap Rate 7%

$2,225,329

Cap Rate 9%

$1,730,811

Alternative Uses

Best Use

Retail

$2.23M

$1.95M – $2.60M (±1% cap)

NOI $155,773 @ 7.0% cap · market cap 6.23%

Second Best

—

—

no second resolved use

Theoretical Best

Warehouse

$4.85M

$4.24M – $5.65M (±1% cap)

NOI $339,171 @ 7.0% cap · market cap 13.57%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

California Sports & Cyclery (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Locksmith Travel Agency (Bike/Boat/Book/etc) Store Mobile Phone Store Butcher Grocery & Convenience Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

2,186

Businesses Nearby

217k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 38% Shops & Services 29% Groceries 28% Hotels & Casinos 2%

Safeway Groceries

61,585 visits/mo 0.3 miles

McDonald's Dining

19,360 visits/mo 0.5 miles

Wendy's Dining

17,209 visits/mo 0.4 miles

76 Shops & Services

16,694 visits/mo 0.4 miles

Starbucks Dining

14,671 visits/mo 0.3 miles

Demographics for 94002, CA

28,513

Population

11,307

Households

2.5

Avg Household Size

40

Median Age

69%

College-Educated

96%

High-School Grad

5.6 sq mi

ZIP Area

5,092

Density / Sq Mi

$204,573

Median Household Income

$120,322

Median Earnings

$2,889

Median Rent

$2,000,001

Median Home Value

Market

Vacancy Rate% for Retail in West region

7% 2020

6.3% 2021

5.5% 2022

5.3% 2023

5.5% 2024

5.8% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Leased storefront offers single-tenant retail or office space on a month-to-month arrangement.

Where is this storefront property located?

The property is located at 1464 El Camino Real Belmont, CA.

What is the asking price?

The asking price for this property is $2,500,000.

What are key features of this property?

This property features: Leased single‑tenant retail or office storefront available for sale or lease; Tenant is on a month‑to‑month lease; High average daily traffic counts