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Mixed-Use Property with Restaurant

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

AddedJun 19, 2025

Days on Market393

Last RefreshMar 16 at 9:09 am

Property Features for 231 Lux Avenue

General Information

Standard status: Active
Size: 1,584 SF

Building Details

Year Built: 1915

Listing office KINETIC REAL ESTATE

Listing date Jun 19, 2025

Source Corcoran

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

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 (±1% cap)

NOI $51,169 @ 7.0% cap · market cap 3.94%

Second Best

Apartment 5plus

$615.9K

$538.9K – $718.5K (±1% cap)

NOI $43,112 @ 7.0% cap · market cap 3.32%

Theoretical Best

Warehouse

$1.26M

$1.10M – $1.47M (±1% cap)

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

Suggested Use

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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).