Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    640 El Camino Real San Mateo, CA 94401

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $2,395,000

    Fully occupied two-bedroom units with upside potential in San Mateo.

    Type:Commercial
    Property size:
    4,686 SF
    Price / SF:
    $511/SF
    Added:
    Apr 14, 2026
    Days on Market:
    10
    Last Refresh:
    Apr 14 at 8:14 pm

    Property Features for 640 El Camino Real

    General Information

    Standard status
    Active
    Size
    4,686 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1956

    We can help!

    Listing Contact
    TAMARA SPOKANE

    Listing agent TAMARA SPOKANE

    Listing office CITRINE ADVISORS, INC.

    Listing date Apr 14, 2026

    Source Corcoran

    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 CITRINE ADVISORS, INC.

    Overview

    San Mateo Multifamily Investment Opportunity

    This multifamily property, located in a desirable area, features all two-bedroom units and is currently fully occupied. The property offers significant upside potential. The building has a total size of 4686 square feet.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Mateo
    County
    San Mateo
    State
    California
    Longitude
    -122.33875
    Latitude
    37.572383

    Nearby Similar for Sale

    • $355,000

      Established Auto Repair Business For Sale

      Profitable auto repair shop serving San Mateo community for 20+ years.
      501 S Norfolk Street, San Mateo, CA 94401
      View Details
    • $2,850,000
      4,586 SF

      Remodeled Multi-Unit Investment Opportunity

      Six remodeled units in San Mateo, ideal for investors.
      739 N Amphlett BLVD, SAN MATEO, CA 94401
      View Details
    • $5,700,000
      4,586 SF

      Remodeled Multi-Unit Investment Opportunity

      Twelve remodeled units in San Mateo with strong rental potential.
      735 N Amphlett BLVD, SAN MATEO, CA 94401
      View Details
    • $1,599,000
      2,097 SF

      Updated Duplex in Sunnybrae

      Updated duplex in up-and-coming San Mateo neighborhood.
      1028 S Idaho ST, SAN MATEO, CA 94402
      View Details
    • $1,599,000
      2,317 SF

      Remodeled Mixed-Use San Mateo Property

      Versatile live-work opportunity in central Peninsula location.
      869 Woodside Way, San Mateo, CA 94401
      View Details
    • $2,100,000
      3,238 SF

      San Mateo Retail Investment Opportunity

      Retail space leased to national veterinary network near El Camino.
      15 - 17 37th Avenue, San Mateo, CA, 94403
      View Details
    • $2,200,000
      5,005 SF

      San Mateo Mixed-Use Building

      Two-story building near Downtown San Mateo with flexible options.
      709 B Street, SAN MATEO, CA 94401
      View Details
    • $3,250,000
      6,911 SF

      San Mateo Flex Space Opportunity

      Flex space with office, shop, and potential living area.
      83 21st Avenue, San Mateo, CA, 94403
      View Details
    • $5,180,000
      7,756 SF

      San Mateo Multifamily Investment Opportunity

      12-unit apartment building in a prime San Mateo location.
      1101 Tilton Ave, San Mateo, CA 94401
      View Details
    • $2,980,000
      5,911 SF

      San Mateo Multifamily Investment Opportunity

      8-unit apartment building in San Mateo, close to transportation.
      1504 S Claremont St, San Mateo, CA 94402
      View Details
    • $4,880,000
      7,772 SF

      San Mateo Investment Opportunity

      Multi-tenant commercial property with redevelopment potential in a prime location.
      1021 El Camino Real, SAN MATEO, CA 94402
      View Details
    • $2,700,000
      1,372 SF

      Restaurant Property with Highway Access

      Restaurant property with outdoor seating and convenient highway access.
      1901 S Norfolk St, San Mateo, CA
      View Details

    FAQs

    What type of property is this?
    Apartment building - Fully occupied two-bedroom units with upside potential in San Mateo.
    Where is this apartment building located?
    The property is located at 640 El Camino Real San Mateo, CA.
    What is the asking price?
    The asking price for this property is $2,395,000.
    What are key features of this property?
    This property features: Great location; Fully occupied; Two bedroom units
    (510) 836-9000
    We can help!
    Listing Contact
    TAMARA SPOKANE
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!