Building Details

Year Built 1951

Listing Agency: Show Phone

Listed By: Corcoran Icon Properties

Source: Xome

Added: Feb 27 Changed: Jul 10 Last Checked: Jul 16 at 7:49AM

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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 Corcoran Icon Properties

Investment Insights

Based on property information with market context.

This for-sale property is presented as a flex and industrial asset, with the overall offering categorized across industrial properties, warehouses, and office unit space. The property information indicates a mixed-use commercial configuration suitable for tenants or owners looking to combine functional work space with office-oriented space within the same asset.

Located at 1800 El Camino Real in Atherton, California, the property’s address provides direct identification for scheduling showings and due diligence. No additional details are provided regarding building frontage, access points, or on-site improvements, so prospective buyers should plan to confirm specifics during the inquiry and review process.

From a leasing and ownership standpoint, a flex/industrial configuration can be useful for a range of operators who need both practical warehouse or industrial space and dedicated office space under one roof. Given the available documentation is limited to the property type categories and an indicated total size, interested parties are encouraged to request further materials to evaluate the exact interior layout, unit mix, and how the office and warehouse components connect to support their business needs.

Key Highlights

• Flex/industrial offering at 1800 El Camino Real with an office unit and warehouse space configuration
• 17 parking spaces
• Zoned ECR - NE‑L

Financial Insights

Estimated NOI and Cap Rate

NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).

NOI / Yr

$420,670

Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.

Cap Rate

6.28%

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$8,413,400 $8.4M

Cap Rate 7%

$6,009,571 $6.0M

Cap Rate 9%

$4,674,111 $4.7M

Market Conditions

NOI Build-Up for 9,187 SF Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent. EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs. OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements. NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.

Gross rent

$630.6K $68.64/SF

− Vacancy

−$29.6K −$3.23/SF

EGI

$601.0K $65.41/SF

− OpEx

−$180.3K −$19.62/SF

NOI

$420.7K $45.79/SF

Area

San Mateo County, CA

Vacancy

4.70%

Lease Rate

$68.64 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates Cap rates vary significantly by property type, market, and asset quality. Typical U.S. stable-market ranges: Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+) Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand) Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically) Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher) Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk) Self-Storage — 5.5% to 7.5% Medical Office — 6.0% to 7.5% Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term Rules of thumb: Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%). Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C. Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI. Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.

Cap Rate 5%

$8,413,400

Cap Rate 7%

$6,009,571

Cap Rate 9%

$4,674,111

Alternative Uses

Best Use

Industrial

$6.01M

$5.26M – $7.01M (±1% cap)

NOI $420,670 @ 7.0% cap · market cap 6.28%

Second Best

Flex RnD

$5.21M

$4.55M – $6.07M (±1% cap)

NOI $364,390 @ 7.0% cap · market cap 5.44%

Theoretical Best

Warehouse

$7.30M

$6.39M – $8.51M (±1% cap)

NOI $510,814 @ 7.0% cap · market cap 7.62%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Flex space

Suggested Use

Top Pick Big Box & Wholesale Store (Bike/Boat/Book/etc) Store Locksmith Catering Service Home Appliance Store Auto Parts 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.

Location Intelligence

Trade Area within ½ mile

1,995

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 94027, CA

7,270

Population

2,682

Households

2.7

Avg Household Size

48

Median Age

86%

College-Educated

99%

High-School Grad

5.0 sq mi

ZIP Area

1,454

Density / Sq Mi

$250,001

Median Household Income

$107,500

Median Earnings

$3,501

Median Rent

$2,000,001

Median Home Value

Market

Vacancy Rate% for Industrial in West region

3.7% 2019

4.3% 2020

2.6% 2021

2.5% 2022

4.8% 2023

6.9% 2024

7.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this flex space located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Flex space - For-sale flex/industrial offering with office unit and warehouse space configuration at 1800 El Camino Real.

Where is this flex space located?

The property is located at 1800 El Camino Real Atherton, CA.

What is the asking price?

The asking price for this property is $6,700,000.

What are key features of this property?

This property features: Flex/industrial offering at 1800 El Camino Real with an office unit and warehouse space configuration; 17 parking spaces; Zoned ECR - NE‑L