Freestanding Storefront
For Sale
Contact for pricing
2499 S El Camino Real, San Mateo, CA 94403
Signalized corner with prominent frontage along El Camino Real.
Property Size3,000 SF
Price / SF$796.30
Days on Market113
Property Features for 2499 S El Camino Real
General Information
Standard status
Active
Size
3,000 SF
Property subtype
RETAIL
Listing Agency:
The Ivy Group
(408) 799-5290
Listed By:
Tim Vi Tran
(408) 799-5290
Source:
Moodyscre
Added: May 11
Changed: Aug 30
Last Checked: Aug 30 at 7:51AM
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 The Ivy Group
Investment Insights
Based on property information with market context.
This freestanding storefront property contains 3,000 square feet and occupies a signalized corner along El Camino Real. The standalone format provides an independent commercial identity, with potential applications identified for retail, medical, showroom, and service businesses.
The property is positioned near Highways 92, 101, and 280, as well as public Caltrain transportation. Hillsdale Shopping Center is minutes away, while nearby employers include Snowflake Inc. and Roblox Corporation. The surrounding area is described as having daytime population and consumer traffic within San Mateo.
The property is positioned near Highways 92, 101, and 280, as well as public Caltrain transportation. Hillsdale Shopping Center is minutes away, while nearby employers include Snowflake Inc. and Roblox Corporation. The surrounding area is described as having daytime population and consumer traffic within San Mateo.
Key Highlights
- 3,000‑square‑foot freestanding commercial property
- Signalized corner along El Camino Real
- Prominent frontage and street visibility
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
$76,610
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
3.21%
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%
$1,532,200
$1.5M
Cap Rate 7%
$1,094,429
$1.1M
Cap Rate 9%
$851,222
$851.2K
Market Conditions
NOI Build-Up for 3,000 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
$114.8K $38.28/SF
− Vacancy
−$5.4K −$1.80/SF
EGI
$109.4K $36.48/SF
− OpEx
−$32.8K −$10.94/SF
NOI
$76.6K $25.54/SF
Area
San Mateo, 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%
$1,532,200
Cap Rate 7%
$1,094,429
Cap Rate 9%
$851,222
Alternative Uses
Best Use
Retail
$1.09M
$957.6K – $1.28M
NOI $76,610 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.19M
$1.04M – $1.38M
NOI $83,059 @ 7.0% cap · market cap 3.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,895
Businesses Nearby
67k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 100%
Nordstrom
Apparel
66,683 visits/mo
0.4 miles
Demographics for 94403, CA
45,057
Population
17,682
Households
2.5
Avg Household Size
38
Median Age
60%
College-Educated
92%
High-School Grad
5.6 sq mi
ZIP Area
8,046
Density / Sq Mi
$179,825
Median Household Income
$93,542
Median Earnings
$3,273
Median Rent
$1,725,900
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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- Blossoms and Botanicals — 147 Hillsdale Shopping Ctr, San Mateo, CA 94403
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- PRADO FLOWERS — 1731 S El Camino Real, San Mateo, CA 94402
Frequently Asked Questions
What type of property is this?
Storefront property - Signalized corner with prominent frontage along El Camino Real.
Where is this storefront property located?
The property is located at 2499 S El Camino Real San Mateo, CA.
What is the asking price?
The asking price for this property is $2,388,888.
What are key features of this property?
This property features: 3,000‑square‑foot freestanding commercial property; Signalized corner along El Camino Real; Prominent frontage and street visibility
