Redwood City Stand Alone
For Sale
$4,998,000
550 Price Avenue, Redwood City, CA 94063
Stand alone office building in Redwood City with flexible floorplan.
Property Size6,380 SF
Price / SF$783.39
Days on Market407
Property Features for 550 Price Avenue
General Information
Standard status
Active
Size
6,380 SF
Property subtype
Commercial
Amenities
Central air
Balcony/Patio
Bitumen Roof
Carpet Flooring
Central Forced Air - Gas Cooling
Gas Central Forced Air Heat Heating
Multi-Zone Cooling
Tile Flooring
Uncovered Parking
Wide Halls / Doors (3 Ft +)
Building Details
Year Built
1963
Listing Agency:
COMPASS
(650) 375-1111
Listed By:
GREGORY TERRY · License #00957651
Source:
Corcoran
Added: Jul 12, 2025
Changed: Aug 19
Last Checked: Aug 21 at 7:13AM
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.
This stand alone office building in Redwood City presents an opportunity for owner occupancy or leased investment. The property is conveniently located off Veterans Boulevard, offering close proximity to US Highway 101, Downtown Redwood City, Woodside Road (providing access to Highway 280), restaurants, recreation, and other amenities. The building has been used as the host for two law firms for many years. The property features a single-story walk-up construction with multiple access points and a functional floor plan, offering adaptability for various users. Key property details include a building size of approximately 6,380 square feet and a parcel size of approximately 20,000 square feet, according to Realist Tax Records. The current building configuration includes two office suites: Suite A, measuring approximately 3,810 square feet, and Suite B, measuring approximately 2,561 square feet, as per Open Homes Photography. There are 22 parking spaces available, including 2 accessible spaces. The property is zoned MUC-VB (Mixed-Use Corridor - Veterans Boulevard) in Redwood City.
Key Highlights
- Stand‑alone office building ideal for owner occupancy or leased investment.
- Excellent location near US Highway 101, Downtown Redwood City, and Highway 280.
- Abundant parking with 22 spaces.
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
$204,338
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
4.09%
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%
$4,086,760
$4.1M
Cap Rate 7%
$2,919,114
$2.9M
Cap Rate 9%
$2,270,422
$2.3M
Market Conditions
NOI Build-Up for 6,380 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
$350.6K $54.96/SF
− Vacancy
−$78.2K −$12.26/SF
EGI
$272.5K $42.70/SF
− OpEx
−$68.1K −$10.68/SF
NOI
$204.3K $32.03/SF
Area
San Mateo County, CA
Vacancy
22.30%
Lease Rate
$54.96 /SF/Yr
Expense Ratio
25.00%
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%
$4,086,760
Cap Rate 7%
$2,919,114
Cap Rate 9%
$2,270,422
Alternative Uses
Best Use
Office B
$2.92M
$2.55M – $3.41M
NOI $204,338 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$5.07M
$4.43M – $5.91M
NOI $354,740 @ 7.0% cap · market cap 7.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,321
Businesses Nearby
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
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Stand alone office building in Redwood City with flexible floorplan.
Where is this office building located?
The property is located at 550 Price Avenue Redwood City, CA.
What is the asking price?
The asking price for this property is $4,998,000.
What are key features of this property?
This property features: Stand‑alone office building ideal for owner occupancy or leased investment.; Excellent location near US Highway 101, Downtown Redwood City, and Highway 280.; Abundant parking with 22 spaces.
