New Medical/Dental Condo For
420 Peninsula Avenue #3 San Mateo, CA 94401
For Sale
$1,499,000
Newly constructed medical/dental condo on the San Mateo Burlingame border.
Property Size4,000 SF
Price / SF$374.75
Days on Market406
Property Features for 420 Peninsula Avenue #3
General Information
Standard status
Active
Size
4,000 SF
Building Details
Year Built
2019
Listing Agency:
GENTRY REAL ESTATE
(408) 829-2537
Listed By:
MARTINA WONG · License #01353626
Source:
Corcoran
Added: Jun 19, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 GENTRY REAL ESTATE
Investment Insights
Based on property information with market context.
This newly constructed medical/dental condominium is located on the border of San Mateo and Burlingame. The 4000-square-foot unit features high-quality materials and finishes throughout. The layout includes a waiting area, a front desk, and three fully plumbed operatories ready for equipment installation. The space provides ADA-compliant access, a wheelchair lift, and a private restroom. This property is located in a high-traffic location.
Key Highlights
- Prime location on the San Mateo/Burlingame border in a high‑traffic area.
- Turnkey medical/dental condo ready for immediate occupancy.
- Three fully plumbed operatories ready for equipment installation.
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $134.4k | $33.60 |
| − Vacancy | −$30.8k | −$7.69 |
| EGI | $103.6k | $25.91 |
| − OpEx | −$25.9k | −$6.48 |
| NOI | $77.7k | $19.43 |
4,000 SF · lease $33.60/SF/yr · vacancy 22.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.11M
$971.5K – $1.30M
NOI $77,717 @ 7.0% cap · market cap 5.18%
Second Best
Healthcare Medical
$946.3K
$828.0K – $1.10M
NOI $66,240 @ 7.0% cap · market cap 4.42%
Theoretical Best
Office A
$1.58M
$1.38M – $1.85M
NOI $110,746 @ 7.0% cap · market cap 7.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Camino Real Pet Clinic — 1317 Bayswater Ave, Burlingame, CA 94010
- Dr. Treat — 220 Primrose Rd, Burlingame, CA 94010
- Peninsula Avenue Veterinary Clinic — 440 Peninsula Ave, San Mateo, CA 94401
- Marilyn Frank, DVM, MS — 1317 Bayswater Ave, Burlingame, CA 94010
- Found Pets SPCA — San Mateo, CA 94401
Frequently Asked Questions
What type of property is this?
Medical Office Space - Newly constructed medical/dental condo on the San Mateo Burlingame border.
Where is this medical office space located?
The property is located at 420 Peninsula Avenue #3 San Mateo, CA.
What is the asking price?
The asking price for this property is $1,499,000.
What are key features of this property?
This property features: Prime location on the San Mateo/Burlingame border in a high‑traffic area.; Turnkey medical/dental condo ready for immediate occupancy.; Three fully plumbed operatories ready for equipment installation.
