Duplex Property With Mixed-Use
For Sale
$2,800,000
Pending
2310 Palmetto Avenue, Pacifica, CA 94044
Two residential units accompany a separate residence and commercial space with parking and garage facilities.
Property Size4,460 SF
Days on Market1773
Property Features for 2310 Palmetto Avenue
General Information
Standard status
Pending
Size
4,460 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA, 1 x 2BR/2BA
Multifamily Units
3
Additional Details
Highway Access
Yes
Building Details
Year Built
2004
Listing Agency:
Excel Realty Inc.
(916) 952-2511
Listed By:
Allyn Terpstra · License #01110825
(916) 952-2511
Source:
Exitrealty
Added: Oct 23, 2021
Changed: Aug 30
Last Checked: Aug 30 at 2:24AM
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 Excel Realty Inc.
Investment Insights
Based on property information with market context.
This 4,460-square-foot property combines a residential duplex with an additional mixed-use building. The duplex includes two 1,130-square-foot units, each configured with two bedrooms, one bath, and a one-car garage. One unit offers a deck, while the other includes a backyard.
The Palmetto Avenue building contains an approximately 1,800-square-foot residence with two bedrooms, two full baths, a kitchen with granite slab counters, a large family room, balcony, and laundry area. The residence also includes an attached two-car garage, three rear parking spaces, and tandem parking through the breezeway. A separate 400-square-foot commercial area with a full bath provides additional space within the building.
Built in 2004, the property features copper plumbing and is located one block from the beach, Pacifica Pier, Sharp Park Golf Course, and walking and bike trails.
The Palmetto Avenue building contains an approximately 1,800-square-foot residence with two bedrooms, two full baths, a kitchen with granite slab counters, a large family room, balcony, and laundry area. The residence also includes an attached two-car garage, three rear parking spaces, and tandem parking through the breezeway. A separate 400-square-foot commercial area with a full bath provides additional space within the building.
Built in 2004, the property features copper plumbing and is located one block from the beach, Pacifica Pier, Sharp Park Golf Course, and walking and bike trails.
Key Highlights
- Two 1,130‑square‑foot duplex units, each with 2 bedrooms, 1 bath, and a 1‑car garage
- Approximately 1,800‑square‑foot residence with 2 bedrooms and 2 full baths
- Separate 400‑square‑foot commercial space with a full bath
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
$144,075
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
5.15%
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%
$2,881,500
$2.9M
Cap Rate 7%
$2,058,214
$2.1M
Cap Rate 9%
$1,600,833
$1.6M
Market Conditions
NOI Build-Up for 4,460 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
$306.1K $68.64/SF
− Vacancy
−$75.6K −$16.95/SF
EGI
$230.5K $51.69/SF
− OpEx
−$86.4K −$19.38/SF
NOI
$144.1K $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 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%
$2,881,500
Cap Rate 7%
$2,058,214
Cap Rate 9%
$1,600,833
Alternative Uses
Best Use
Mixed Use
$2.06M
$1.80M – $2.40M
NOI $144,075 @ 7.0% cap · market cap 5.15%
Second Best
Multifamily LT 5
$1.85M
$1.62M – $2.16M
NOI $129,607 @ 7.0% cap · market cap 4.63%
Theoretical Best
Warehouse
$3.54M
$3.10M – $4.13M
NOI $247,984 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
477
Businesses Nearby
Explore this area
Business Placement
Demographics for 94044, CA
38,675
Population
14,609
Households
2.6
Avg Household Size
43
Median Age
48%
College-Educated
96%
High-School Grad
15.1 sq mi
ZIP Area
2,561
Density / Sq Mi
$156,658
Median Household Income
$75,296
Median Earnings
$3,075
Median Rent
$1,211,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two residential units accompany a separate residence and commercial space with parking and garage facilities.
Where is this duplex located?
The property is located at 2310 Palmetto Avenue Pacifica, CA.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Two 1,130‑square‑foot duplex units, each with 2 bedrooms, 1 bath, and a 1‑car garage; Approximately 1,800‑square‑foot residence with 2 bedrooms and 2 full baths; Separate 400‑square‑foot commercial space with a full bath
