Commercial Building on El Camino
For Sale
$975,000
630-632 El Camino Real, San Carlos, CA 94070
Two-unit commercial building near downtown San Carlos with parking.
Property Size1,130 SF
Price / SF$862.83
Days on Market150
Property Features for 630-632 El Camino Real
General Information
Standard status
Active
Size
1,130 SF
Property subtype
Commercial
Amenities
Central air
Carpet Flooring
Off Street Parking
Parking Area
Rolled Composition Roof
Vinyl / Linoleum Flooring
Wall Furnace Heating
Window/Wall Unit Cooling
Building Details
Year Built
1945
Listing Agency:
KINGHORN COMMERCIAL PROPERTIES
(650) 918-4388
Listed By:
RANDY KINGHORN · License #01743580
Source:
Corcoran
Added: Apr 15
Changed: Sep 8
Last Checked: Sep 10 at 5:41AM
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 KINGHORN COMMERCIAL PROPERTIES
Investment Insights
Based on property information with market context.
This two-unit commercial building is situated along the high-traffic El Camino Real, one block from the heart of downtown San Carlos. The property includes a few private parking spaces located behind the building. Additional parking is available along El Camino Real in front of the property, as well as in a large public parking lot behind it. Currently, one unit is vacant, while the other has a short-term lease in place. The location has a bike score of 74, indicating it is very bikeable, and a walk score of 95, designating it as a walker's paradise.
Key Highlights
- Prime location on high‑traffic El Camino Real, near downtown San Carlos.
- Two‑unit commercial building offering investment or owner‑user potential.
- One unit is currently vacant, providing immediate occupancy opportunity.
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
$28,856
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
2.96%
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%
$577,120
$577.1K
Cap Rate 7%
$412,229
$412.2K
Cap Rate 9%
$320,622
$320.6K
Market Conditions
NOI Build-Up for 1,130 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
$43.3K $38.28/SF
− Vacancy
−$2.0K −$1.80/SF
EGI
$41.2K $36.48/SF
− OpEx
−$12.4K −$10.94/SF
NOI
$28.9K $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%
$577,120
Cap Rate 7%
$412,229
Cap Rate 9%
$320,622
Alternative Uses
Best Use
Retail
$412.2K
$360.7K – $480.9K
NOI $28,856 @ 7.0% cap · market cap 2.96%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$897.6K
$785.4K – $1.05M
NOI $62,830 @ 7.0% cap · market cap 6.44%
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
2,949
Businesses Nearby
35k
Monthly Visits Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
McDonald's
Dining
19,360 visits/mo
0.5 miles
Taco Bell
Dining
11,993 visits/mo
0.5 miles
Dunkin' Donuts
Dining
2,456 visits/mo
0.5 miles
Boba Guys
Dining
709 visits/mo
0.3 miles
Demographics for 94070, CA
31,585
Population
11,958
Households
2.6
Avg Household Size
42
Median Age
68%
College-Educated
97%
High-School Grad
6.1 sq mi
ZIP Area
5,178
Density / Sq Mi
$235,373
Median Household Income
$118,194
Median Earnings
$2,802
Median Rent
$2,000,001
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Two-unit commercial building near downtown San Carlos with parking.
Where is this storefront property located?
The property is located at 630-632 El Camino Real San Carlos, CA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Prime location on high‑traffic El Camino Real, near downtown San Carlos.; Two‑unit commercial building offering investment or owner‑user potential.; One unit is currently vacant, providing immediate occupancy opportunity.
