Mixed-Use Property with
For Sale
$1,298,000
231 Lux Avenue, South San Francisco, CA 94080
Mixed-use property with a long-standing restaurant and residential unit.
Property Size1,584 SF
Price / SF$819.44
Days on Market486
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
Listed By:
GIOVANI FRANCO · License #01947016
(650) 296-3880
Source:
Corcoran
Added: Jun 19, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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
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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).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,169
Cap Rate
3.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,023,380
$1.0M
Cap Rate 7%
$730,986
$731.0K
Cap Rate 9%
$568,544
$568.5K
Market Conditions
NOI Build-Up for 1,584 SF
Gross rent
$108.7K $68.64/SF
− Vacancy
−$26.9K −$16.95/SF
EGI
$81.9K $51.69/SF
− OpEx
−$30.7K −$19.38/SF
NOI
$51.2K $32.30/SF
Area
San Mateo County, CA
Vacancy
24.70%
Lease Rate
$68.64 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,023,380
Cap Rate 7%
$730,986
Cap Rate 9%
$568,544
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 authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,220
Businesses Nearby
275k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 36%
Dining 27%
Shops & Services 24%
Hotels & Casinos 12%
Costco Wholesale
Superstores
100,466 visits/mo
0.5 miles
Denny's
Dining
18,873 visits/mo
0.4 miles
Dunkin' Donuts
Dining
17,174 visits/mo
0.5 miles
Speedway
Shops & Services
14,815 visits/mo
0.4 miles
Wells Fargo
Shops & Services
13,793 visits/mo
0.1 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
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Market
Vacancy Rate% for Retail in West region
Frequently Asked Questions
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).
