Mixed-Use Property with
231 Lux Avenue South San Francisco, CA 94080
231 Lux Avenue, South San Francisco, CA, 94080
$1,298,000
For Sale
$1,298,000
Mixed-use property with a long-standing restaurant and residential unit.
Property Size1,584 SF
Price / SF$819.44
Days on Market398
Property Features for 231 Lux Avenue
General Information
- Standard status
- Active
- Size
- 1,584 SF
Building Details
- Year Built
- 1915
Listing Agency
KINETIC REAL ESTATE
(650) 296-3880
Listed by
GIOVANI FRANCO · License #01947016
Source
Corcoran
Added: Jun 19, 2025 Updated: Mar 16 at 9:09 am Checked: Mar 16 at 9:09 am
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 KINETIC REAL ESTATE
Investment Insights
Based on property information with market context.
Located in South San Francisco, this mixed-use property at 231 Lux Avenue presents an opportunity for investors and owner-users. The two-story building includes a 3-bedroom, 1-bathroom residential unit on the upper level, which is currently rented. The street-level commercial space houses a Mexican restaurant, included in the sale. The restaurant has been in operation for nearly 40 years. The sale includes a beer and wine license (subject to conditions) and exclusive basement access for restaurant operations. The property sits on a large lot with dual street access, including entry from Tamarack Lane. The rear yard has been improved for outdoor dining or private events, with seating for approximately 40+ guests. The property is located near Grand Avenue and Oyster Point, providing exposure and proximity to biotech campuses.
Key Highlights
- Mixed‑use property featuring a residential unit and a well‑known Mexican restaurant.
- Turnkey restaurant business boasting nearly 40 years of success - ready for a new owner.
- Beer and wine license included (subject to conditions).
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $108.7k | $68.64 |
| − Vacancy | −$26.9k | −$16.95 |
| EGI | $81.9k | $51.69 |
| − OpEx | −$30.7k | −$19.38 |
| NOI | $51.2k | $32.30 |
1,584 SF · lease $68.64/SF/yr · vacancy 24.70% · expense 37.50%
Alternative Uses
Best Use
Mixed Use
$731.0K
$639.6K – $852.8K
NOI $51,169 @ 7.0% cap · market cap 3.94%
Second Best
Apartment 5plus
$615.9K
$538.9K – $718.5K
NOI $43,112 @ 7.0% cap · market cap 3.32%
Theoretical Best
Warehouse
$1.26M
$1.10M – $1.47M
NOI $88,073 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Single family properties
Similar For Sale Nearby
FAQs
What type of property is this?
Mixed-use property - Mixed-use property with a long-standing restaurant and residential unit.
Where is this mixed-use property located?
The property is located at 231 Lux Avenue South San Francisco, CA.
What is the asking price?
The asking price for this property is $1,298,000.
What are key features of this property?
This property features: Mixed‑use property featuring a residential unit and a well‑known Mexican restaurant.; Turnkey restaurant business boasting nearly 40 years of success - ready for a new owner.; Beer and wine license included (subject to conditions).
