Tudor Mixed-Use
New
For Sale
$2,895,000
311315 Primrose Road, Burlingame, CA 94010
Fully leased commercial property with two tenant suites, central air, and distinctive period architecture.
Property Size2,536 SF
Lot Size0.04 Acres
Price / SF$1,141
Days on Market7
Property Features for 311315 Primrose Road
General Information
Standard status
Active
Size
2,536 SF
Lot size
0.04 Acres
Property subtype
General Commercial
Zoning
BAC
Occupancy
100%
Taxes and HOA fees
Annual Taxes
$14,540
Amenities
Central Air
Building Details
Year Built
1932
Buildings
1
Stories
2
Building Size
2,536 SF
Construction
Tudor Style
Tenancy
Multi
Listing Agency:
(650) 375-1111
Listed By:
Compass
Source:
Xome
Added: Aug 30
Changed: Sep 4
Last Checked: Sep 4 at 2:19PM
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 Compass
Investment Insights
Based on property information with market context.
Built in 1932, this mixed-use property combines Tudor-style architecture with a two-level commercial layout and basement space. The ground floor and basement accommodate Halo Blow Dry Bar, while the second floor is occupied by a law office. Central air is included, and the building has been maintained and improved over time.
The property contains approximately 2,536 square feet on a 1,613-square-foot parcel at 311315 Primrose Road in Burlingame. It is located in Downtown Burlingame, within steps of Burlingame Avenue's shops and commercial businesses. The property is designated BAC, or Burlingame Ave Commercial, zoning, and is fully leased to two tenants.
The property contains approximately 2,536 square feet on a 1,613-square-foot parcel at 311315 Primrose Road in Burlingame. It is located in Downtown Burlingame, within steps of Burlingame Avenue's shops and commercial businesses. The property is designated BAC, or Burlingame Ave Commercial, zoning, and is fully leased to two tenants.
Key Highlights
- 2,536 SqFt building on a 1,613 SqFt parcel
- Two tenants occupy two floors; property is fully leased
- Tudor Style Architecture with a 1932 construction date
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
$81,922
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
2.83%
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%
$1,638,440
$1.6M
Cap Rate 7%
$1,170,314
$1.2M
Cap Rate 9%
$910,244
$910.2K
Market Conditions
NOI Build-Up for 2,536 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
$174.1K $68.64/SF
− Vacancy
−$43.0K −$16.95/SF
EGI
$131.1K $51.69/SF
− OpEx
−$49.2K −$19.38/SF
NOI
$81.9K $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%
$1,638,440
Cap Rate 7%
$1,170,314
Cap Rate 9%
$910,244
Alternative Uses
Best Use
Mixed Use
$1.17M
$1.02M – $1.37M
NOI $81,922 @ 7.0% cap · market cap 2.83%
Second Best
Office B
$1.16M
$1.02M – $1.35M
NOI $81,223 @ 7.0% cap · market cap 2.81%
Theoretical Best
Warehouse
$2.01M
$1.76M – $2.35M
NOI $141,006 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
2,667
Businesses Nearby
Explore this area
Business Placement
Demographics for 94010, CA
44,045
Population
17,834
Households
2.5
Avg Household Size
42
Median Age
69%
College-Educated
96%
High-School Grad
15.1 sq mi
ZIP Area
2,917
Density / Sq Mi
$191,758
Median Household Income
$101,100
Median Earnings
$2,655
Median Rent
$2,000,001
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased commercial property with two tenant suites, central air, and distinctive period architecture.
Where is this mixed-use property located?
The property is located at 311315 Primrose Road Burlingame, CA.
What is the asking price?
The asking price for this property is $2,895,000.
What are key features of this property?
This property features: 2,536 SqFt building on a 1,613 SqFt parcel; Two tenants occupy two floors; property is fully leased; Tudor Style Architecture with a 1932 construction date
