Flex Space with Kitchens and
For Sale
Contact for pricing
2600 Spring St, Redwood City, CA 94063
Flex space with fine-tuned R&D and an open polished warehouse, with restrooms and kitchens in every unit.
Property Size12,000 SF
Price / SF$812.50
Days on Market139
Property Features for 2600 Spring St
General Information
Standard status
Active
Size
12,000 SF
Property subtype
FLEX_R_AND_D
Amenities
Restrooms
Kitchens
Listing Agency:
JLL | Silicon Valley
(650) 480-2200
Listed By:
Joey Alftin · License #02090452
(650) 520-0324
Source:
Moodyscre
Added: Apr 29
Changed: Sep 6
Last Checked: Sep 14 at 10:19AM
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 JLL | Silicon Valley
Investment Insights
Based on property information with market context.
This flex space includes fine-tuned R&D spaces and an open, polished warehouse layout. The property is configured so that all units have their own restrooms and kitchens, supporting a variety of office, lab, and light-warehouse uses. Total building size is approximately 12,000 square feet.
The property is located at 2600 Spring St in Redwood City, CA 94063. The current setup also offers a signage opportunity for tenant or business identification.
With flexible internal improvements designed around both R&D and warehouse-style space, this offering can be well-suited for users looking for a single footprint that supports multiple functional needs under one roof.
The property is located at 2600 Spring St in Redwood City, CA 94063. The current setup also offers a signage opportunity for tenant or business identification.
With flexible internal improvements designed around both R&D and warehouse-style space, this offering can be well-suited for users looking for a single footprint that supports multiple functional needs under one roof.
Key Highlights
- Approximately 12,000 square feet of flex space
- Fine‑tuned R&D spaces within the building
- Open, polished warehouse layout
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
$667,222
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
6.84%
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%
$13,344,440
$13.3M
Cap Rate 7%
$9,531,743
$9.5M
Cap Rate 9%
$7,413,578
$7.4M
Market Conditions
NOI Build-Up for 12,000 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
$823.7K $68.64/SF
− Vacancy
−$38.7K −$3.23/SF
EGI
$785.0K $65.41/SF
− OpEx
−$117.7K −$9.81/SF
NOI
$667.2K $55.60/SF
Area
San Mateo County, CA
Vacancy
4.70%
Lease Rate
$68.64 /SF/Yr
Expense Ratio
15.00%
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%
$13,344,440
Cap Rate 7%
$9,531,743
Cap Rate 9%
$7,413,578
Alternative Uses
Best Use
Warehouse
$9.53M
$8.34M – $11.12M
NOI $667,222 @ 7.0% cap · market cap 6.84%
Second Best
Industrial
$7.85M
$6.87M – $9.16M
NOI $549,477 @ 7.0% cap · market cap 5.64%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,414
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94063, CA
35,836
Population
12,162
Households
2.9
Avg Household Size
34
Median Age
35%
College-Educated
74%
High-School Grad
6.5 sq mi
ZIP Area
5,513
Density / Sq Mi
$115,528
Median Household Income
$50,960
Median Earnings
$2,802
Median Rent
$1,077,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in West region
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- Capelo's Barbecue — 2655 Middlefield Rd, Redwood City, CA 94063
- CHARLIE PARKER PROVISIONS — 426 MacArthur Ave Suite 10, Redwood City, CA 94063
Frequently Asked Questions
What type of property is this?
Flex space - Flex space with fine-tuned R&D and an open polished warehouse, with restrooms and kitchens in every unit.
Where is this flex space located?
The property is located at 2600 Spring St Redwood City, CA.
What is the asking price?
The asking price for this property is $9,750,000.
What are key features of this property?
This property features: Approximately 12,000 square feet of flex space; Fine‑tuned R&D spaces within the building; Open, polished warehouse layout
