Medical Office
For Sale
Contact for pricing
199 California DR 2nd Floor, Millbrae, CA 94030
Four enclosed rooms, a reception area, and a restroom provide a functional medical office layout.
Property Size10,230 SF
Price / SF$1.86
Days on Market1083
Property Features for 199 California DR 2nd Floor
General Information
Standard status
Active
Size
10,230 SF
Additional Details
Condition
Move-in Ready
Public Transit
Yes
Property Use
Office
Building Details
Year Built
1958
Listing Agency:
Green Banker Realty
Listed By:
Stanley Lo · License #00874415
(650) 373-0007
Source:
Giuffreproperties
Added: Nov 14, 2023
Changed: Nov 1
Last Checked: Oct 31 at 10:44PM
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 Green Banker Realty
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Investment Insights
Based on property information with market context.
This 1,100-square-foot medical office suite was built in 1959 and includes four private rooms, three with sinks, along with a reception area and one bathroom. Common parking is available.
BART and Caltrain are nearby. The surrounding area includes residential neighborhoods, apartments, hotels, retail, and dining.
BART and Caltrain are nearby. The surrounding area includes residential neighborhoods, apartments, hotels, retail, and dining.
Key Highlights
- 1,100‑square‑foot medical office suite
- Four private rooms, including three with sinks
- Reception area and one bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$326,517
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,530,340
$6.5M
Cap Rate 7%
$4,664,529
$4.7M
Cap Rate 9%
$3,627,967
$3.6M
Market Conditions
NOI Build-Up for 10,230 SF
Gross rent
$702.2K $68.64/SF
− Vacancy
−$158.0K −$15.44/SF
EGI
$544.2K $53.20/SF
− OpEx
−$217.7K −$21.28/SF
NOI
$326.5K $31.92/SF
Area
San Mateo County, CA
Vacancy
22.50%
Lease Rate
$68.64 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,530,340
Cap Rate 7%
$4,664,529
Cap Rate 9%
$3,627,967
Alternative Uses
Best Use
Office B
$4.68M
$4.10M – $5.46M
NOI $327,646 @ 7.0% cap · market cap 1,724.45%
Second Best
Healthcare Medical
$4.66M
$4.08M – $5.44M
NOI $326,517 @ 7.0% cap · market cap 1,718.51%
Theoretical Best
Warehouse
$8.13M
$7.11M – $9.48M
NOI $568,807 @ 7.0% cap · market cap 2,993.72%
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
2,575
Businesses Nearby
Under-served
Demand for This Use
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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Market
Vacancy Rate% for Office in West region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Four enclosed rooms, a reception area, and a restroom provide a functional medical office layout.
Where is this medical office space located?
The property is located at 199 California DR 2nd Floor Millbrae, CA.
What are key features of this property?
This property features: 1,100‑square‑foot medical office suite; Four private rooms, including three with sinks; Reception area and one bathroom
