Downtown South San Francisco
For Sale
$1,799,000
20-24 Linden Avenue #20, South San Francisco, CA 94080
Customizable space in a thriving downtown location.
Property Size2,760 SF
Lot Size0.18 Acres
Price / SF$651.81
Days on Market765
Property Features for 20-24 Linden Avenue #20
General Information
Standard status
Active
Size
2,760 SF
Lot size
0.18 Acres
Property subtype
Commercial
Amenities
Parking Area
Building Details
Year Built
1975
Listing Agency:
QUEST REAL ESTATE
(650) 343-4824
Listed By:
BIJAN AMINI
Source:
Corcoran
Added: Jul 7, 2024
Changed: Aug 8
Last Checked: Aug 8 at 6:14AM
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 QUEST REAL ESTATE
Investment Insights
Based on property information with market context.
Located in downtown South San Francisco, 20-24 Linden Ave presents an investment opportunity with approximately 2760 square feet of customizable space. The property features four separate entrances and four separate electric meters. It includes a large parking lot on a parcel of approximately 7,650 square feet. The property benefits from a corner location with high visibility. The location has a WalkScore of 92 and is within walking distance of Grand Avenue and the surrounding downtown area, including boutiques, cafes, and restaurants. Public transportation, including BART, Caltrain and SFO, are easily accessible. South San Francisco is undergoing transformation and is home to one of the largest biotech clusters in the world.
Key Highlights
- Prime investment opportunity in rapidly growing Downtown South San Francisco.
- ±2760 sq ft customizable space with 4 separate entrances and electric meters.**
- Large ±7,650 sq ft lot with ample parking.
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
$70,481
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
3.92%
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%
$1,409,620
$1.4M
Cap Rate 7%
$1,006,871
$1.0M
Cap Rate 9%
$783,122
$783.1K
Market Conditions
NOI Build-Up for 2,760 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
$105.7K $38.28/SF
− Vacancy
−$5.0K −$1.80/SF
EGI
$100.7K $36.48/SF
− OpEx
−$30.2K −$10.94/SF
NOI
$70.5K $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 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%
$1,409,620
Cap Rate 7%
$1,006,871
Cap Rate 9%
$783,122
Alternative Uses
Best Use
Retail
$1.01M
$881.0K – $1.17M
NOI $70,481 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$2.19M
$1.92M – $2.56M
NOI $153,461 @ 7.0% cap · market cap 8.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,472
Businesses Nearby
149k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 55%
Shops & Services 33%
Hotels & Casinos 10%
Home Improvements & Furnishings 1%
Denny's
Dining
18,873 visits/mo
0.2 miles
Dunkin' Donuts
Dining
17,174 visits/mo
0.3 miles
Jack in the Box
Dining
14,748 visits/mo
0.5 miles
Wells Fargo
Shops & Services
13,793 visits/mo
0.3 miles
76
Shops & Services
13,141 visits/mo
0.3 miles
Demographics for 94080, CA
66,592
Population
23,364
Households
2.9
Avg Household Size
40
Median Age
40%
College-Educated
86%
High-School Grad
10.2 sq mi
ZIP Area
6,529
Density / Sq Mi
$135,966
Median Household Income
$61,138
Median Earnings
$2,840
Median Rent
$1,159,500
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - Customizable space in a thriving downtown location.
Where is this storefront property located?
The property is located at 20-24 Linden Avenue #20 South San Francisco, CA.
What is the asking price?
The asking price for this property is $1,799,000.
What are key features of this property?
This property features: Prime investment opportunity in rapidly growing Downtown South San Francisco.; ±2760 sq ft customizable space with 4 separate entrances and electric meters.**; Large ±7,650 sq ft lot with ample parking.
