Multi-Tenant Medical Office
For Sale
$3,400,000
667669 Crespi Drive, Pacifica, CA 94044
Flexible suites serve medical, wellness, dental, and other professional office users near Linda Mar Beach.
Property Size8,533 SF
Lot Size0.42 Acres
Price / SF$398.45
Days on Market322
Property Features for 667669 Crespi Drive
General Information
Standard status
Active
Size
8,533 SF
Net Rentable
7,184 SF
Lot size
0.42 Acres
Property subtype
General Commercial
Additional Details
Highway Access
Yes
Office Units
14
Taxes and HOA fees
Annual Taxes
$45,324
Amenities
3
C1
26 Parking Spaces.
Building Details
Year Built
1964
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
(650) 726-1100
Listed By:
Matt Aragoni
Source:
Xome
Added: Oct 13, 2025
Changed: Aug 30
Last Checked: Aug 30 at 2:21PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1964, this multi-tenant office property contains 7,184 square feet of gross leasable area on an 18,295-square-foot lot. The building is arranged into 14 suites, with medical, dental, podiatry, wellness, and other professional occupants represented in the tenant mix. Three vacant units provide additional leasing flexibility, while the suite configuration supports continued multi-tenant operation or an owner-user headquarters with income from other spaces.
The property is positioned just off Hwy 1 in Pacifica’s Linda Mar district. Linda Mar Beach and Safeway Shopping Center are within walking distance, along with nearby businesses including McDonald’s, Starbucks, Chase Bank, and Ross. The address is 667669 Crespi Drive, Pacifica, CA 94044.
The property is positioned just off Hwy 1 in Pacifica’s Linda Mar district. Linda Mar Beach and Safeway Shopping Center are within walking distance, along with nearby businesses including McDonald’s, Starbucks, Chase Bank, and Ross. The address is 667669 Crespi Drive, Pacifica, CA 94044.
Key Highlights
- 7,184 square feet of gross leasable area on an 18,295‑square‑foot lot
- 14 suites configured for multi‑tenant office use
- Three vacant units provide immediate leasing flexibility
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
$273,294
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
8.04%
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%
$5,465,880
$5.5M
Cap Rate 7%
$3,904,200
$3.9M
Cap Rate 9%
$3,036,600
$3.0M
Market Conditions
NOI Build-Up for 8,533 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
$469.0K $54.96/SF
− Vacancy
−$104.6K −$12.26/SF
EGI
$364.4K $42.70/SF
− OpEx
−$91.1K −$10.68/SF
NOI
$273.3K $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%
$5,465,880
Cap Rate 7%
$3,904,200
Cap Rate 9%
$3,036,600
Alternative Uses
Best Use
Office B
$3.90M
$3.42M – $4.55M
NOI $273,294 @ 7.0% cap · market cap 8.04%
Second Best
Healthcare Medical
$3.89M
$3.40M – $4.54M
NOI $272,353 @ 7.0% cap · market cap 8.01%
Theoretical Best
Warehouse
$6.78M
$5.93M – $7.91M
NOI $474,450 @ 7.0% cap · market cap 13.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
14
Office units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
Explore this area
Business Placement
Demographics for 94044, CA
38,675
Population
14,609
Households
2.6
Avg Household Size
43
Median Age
48%
College-Educated
96%
High-School Grad
15.1 sq mi
ZIP Area
2,561
Density / Sq Mi
$156,658
Median Household Income
$75,296
Median Earnings
$3,075
Median Rent
$1,211,700
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 - Flexible suites serve medical, wellness, dental, and other professional office users near Linda Mar Beach.
Where is this office building located?
The property is located at 667669 Crespi Drive Pacifica, CA.
What is the asking price?
The asking price for this property is $3,400,000.
What are key features of this property?
This property features: 7,184 square feet of gross leasable area on an 18,295‑square‑foot lot; 14 suites configured for multi‑tenant office use; Three vacant units provide immediate leasing flexibility
