Unique Flex Space
For Sale
$3,250,000
199 Point Avenue, Half Moon Bay, CA 94019
Flex space with ocean, harbor, and hillside views.
Property Size7,200 SF
Price / SF$451.39
Days on Market324
Property Features for 199 Point Avenue
General Information
Standard status
Active
Size
7,200 SF
Property subtype
Commercial
Amenities
Fenced Yard
Metal Roof
Concrete Flooring
Energy Star Lighting
Guest Parking
Off Street Parking
Radiant Floors Heating
Building Details
Year Built
2000
Listing Agency:
KINGHORN COMMERCIAL PROPERTIES
(650) 918-4388
Listed By:
RANDY KINGHORN · License #01743580
Source:
Corcoran
Added: Oct 4, 2025
Changed: Aug 17
Last Checked: Aug 22 at 7:39AM
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 KINGHORN COMMERCIAL PROPERTIES
Investment Insights
Based on property information with market context.
This unique flex space opportunity is available for an owner/user. The property includes two warehouse buildings suitable for both work and recreational activities. One building can house a workshop, design studio, and offices, while the other can accommodate recreational equipment such as kayaks, paddle boards, fishing gear, and jet skis. The buildings offer views of the ocean, harbor, and hillsides, as well as the adjacent marsh/estuary. The property has a total size of 7200 square feet and is located in Half Moon Bay, CA.
Key Highlights
- Unique flex space suitable for work and recreation.
- Two warehouse buildings included.
- Breathtaking ocean, harbor, and hillside views.
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
$285,578
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
8.79%
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%
$5,711,560
$5.7M
Cap Rate 7%
$4,079,686
$4.1M
Cap Rate 9%
$3,173,089
$3.2M
Market Conditions
NOI Build-Up for 7,200 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
$494.2K $68.64/SF
− Vacancy
−$54.9K −$7.62/SF
EGI
$439.4K $61.02/SF
− OpEx
−$153.8K −$21.36/SF
NOI
$285.6K $39.66/SF
Area
San Mateo County, CA
Vacancy
11.10%
Lease Rate
$68.64 /SF/Yr
Expense Ratio
35.00%
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%
$5,711,560
Cap Rate 7%
$4,079,686
Cap Rate 9%
$3,173,089
Alternative Uses
Best Use
Industrial
$4.71M
$4.12M – $5.49M
NOI $329,686 @ 7.0% cap · market cap 10.14%
Second Best
Flex RnD
$4.08M
$3.57M – $4.76M
NOI $285,578 @ 7.0% cap · market cap 8.79%
Theoretical Best
Warehouse
$5.72M
$5.00M – $6.67M
NOI $400,333 @ 7.0% cap · market cap 12.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
223
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 94019, CA
15,483
Population
5,849
Households
2.6
Avg Household Size
46
Median Age
54%
College-Educated
91%
High-School Grad
59.7 sq mi
ZIP Area
259
Density / Sq Mi
$153,272
Median Household Income
$72,042
Median Earnings
$1,977
Median Rent
$1,509,300
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Flex space with ocean, harbor, and hillside views.
Where is this flex space located?
The property is located at 199 Point Avenue Half Moon Bay, CA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: Unique flex space suitable for work and recreation.; Two warehouse buildings included.; Breathtaking ocean, harbor, and hillside views.
