South San Francisco Retail
For Sale
$2,630,000
Pending
369 Grand Avenue, South San Francisco, CA 94080
Retail investment opportunity in the heart of South San Francisco.
Property Size6,183 SF
Lot Size0.16 Acres
Days on Market102
Property Features for 369 Grand Avenue
General Information
Standard status
Pending
Size
6,183 SF
Lot size
0.16 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$7,453
Amenities
Lot Size: Under 1/2 Acre
Listing Agency:
San Mateo
(650) 339-6818
Listed By:
Rachna Gandhi · License #02040779
(650) 339-6818
Source:
Corcoran
Added: May 20
Changed: Aug 23
Last Checked: Aug 21 at 6:27PM
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 San Mateo
Investment Insights
Based on property information with market context.
Located in Downtown South San Francisco, the property at 369-371 Grand Ave presents a retail investment opportunity. The property is positioned along one of the city’s active commercial corridors, benefiting from visibility, pedestrian traffic, and access to retail, dining, and commuter amenities. The building consists of approximately 6,183 square feet and is situated on a 6,975 square foot parcel. The property is zoned GAC – Grand Avenue Core. The location is surrounded by a dense residential population and local businesses. The property offers stability with potential through strategic leasing and growth throughout the Grand Avenue corridor. This South San Francisco retail asset has location characteristics.
Key Highlights
- Prime location in the heart of Downtown South San Francisco on a highly active commercial corridor.
- Exceptional visibility and strong pedestrian traffic.
- Zoned GAC – Grand Avenue Core, offering future upside potential.
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
$157,893
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
6.00%
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%
$3,157,860
$3.2M
Cap Rate 7%
$2,255,614
$2.3M
Cap Rate 9%
$1,754,367
$1.8M
Market Conditions
NOI Build-Up for 6,183 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
$236.7K $38.28/SF
− Vacancy
−$11.1K −$1.80/SF
EGI
$225.6K $36.48/SF
− OpEx
−$67.7K −$10.94/SF
NOI
$157.9K $25.54/SF
Area
San Mateo County, 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%
$3,157,860
Cap Rate 7%
$2,255,614
Cap Rate 9%
$1,754,367
Alternative Uses
Best Use
Retail
$2.26M
$1.97M – $2.63M
NOI $157,893 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$4.91M
$4.30M – $5.73M
NOI $343,786 @ 7.0% cap · market cap 13.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,123
Businesses Nearby
94k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 48%
Dining 42%
Hotels & Casinos 8%
Electronics 2%
Denny's
Dining
18,873 visits/mo
0.5 miles
Wells Fargo
Shops & Services
13,793 visits/mo
0.1 miles
76
Shops & Services
13,141 visits/mo
0.2 miles
Starbucks
Dining
9,657 visits/mo
0.1 miles
Shell
Shops & Services
9,155 visits/mo
0.5 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
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Retail space - Retail investment opportunity in the heart of South San Francisco.
Where is this retail space located?
The property is located at 369 Grand Avenue South San Francisco, CA.
What is the asking price?
The asking price for this property is $2,630,000.
What are key features of this property?
This property features: Prime location in the heart of Downtown South San Francisco on a highly active commercial corridor.; Exceptional visibility and strong pedestrian traffic.; Zoned GAC – Grand Avenue Core, offering future upside potential.
