San Mateo Mixed-Use
For Sale
$2,200,000
709 B Street, San Mateo, CA 94401
Two-story building near Downtown San Mateo with flexible options.
Property Size5,005 SF
Lot Size0.10 Acres
Price / SF$439.56
Days on Market150
Property Features for 709 B Street
General Information
Standard status
Active
Size
5,005 SF
Lot size
0.10 Acres
Property subtype
Commercial
Amenities
On Street
Building Details
Year Built
1920
Listing Agency:
SC PROPERTIES
(650) 342-3030
Listed By:
ANDREW GUGLIELMI · License #01852584
Source:
Corcoran
Added: Mar 13
Changed: Aug 8
Last Checked: Aug 8 at 6:28AM
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 SC PROPERTIES
Investment Insights
Based on property information with market context.
Located steps from Downtown San Mateo, 709 B Street is a two-story standalone building totaling approximately 5,005 square feet on a 4,400 square foot lot. The property is currently vacant and available for sale, offering flexible options for owner-users, investors, or tenants. The ground floor, approximately 2,385 square feet, was formerly occupied by a bar/restaurant and includes an existing bar build-out and a fenced outdoor backyard/patio area, ideal for restaurant, bar, hospitality, or retail uses. The second floor, approximately 2,620 square feet, features high ceilings, an open layout, and excellent natural light, making it well suited for creative office, studio, fitness, education, or collaborative workspace. Zoned C1-3/R5, the property offers potential for a variety of retail, office, and mixed-use uses in a highly desirable San Mateo location with strong street presence and easy access to Downtown amenities.
Key Highlights
- Prime location steps from Downtown San Mateo.
- Flexible mixed‑use zoning (C1‑3/R5) allows for a variety of retail, office, and mixed‑use possibilities.
- Vacant and available for immediate repositioning (sale or lease).
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
$136,940
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
6.22%
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%
$2,738,800
$2.7M
Cap Rate 7%
$1,956,286
$2.0M
Cap Rate 9%
$1,521,556
$1.5M
Market Conditions
NOI Build-Up for 5,005 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
$191.6K $38.28/SF
− Vacancy
−$9.0K −$1.80/SF
EGI
$182.6K $36.48/SF
− OpEx
−$45.6K −$9.12/SF
NOI
$136.9K $27.36/SF
Area
San Mateo, CA
Vacancy
4.70%
Lease Rate
$38.28 /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%
$2,738,800
Cap Rate 7%
$1,956,286
Cap Rate 9%
$1,521,556
Alternative Uses
Best Use
Specialty Retail
$1.96M
$1.71M – $2.28M
NOI $136,940 @ 7.0% cap · market cap 6.22%
Second Best
Mixed Use
$1.45M
$1.27M – $1.69M
NOI $101,351 @ 7.0% cap · market cap 4.61%
Theoretical Best
Office A
$1.98M
$1.73M – $2.31M
NOI $138,570 @ 7.0% cap · market cap 6.30%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,862
Businesses Nearby
149k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 50%
Shops & Services 46%
Electronics 3%
Hotels & Casinos 2%
Chick-fil-A
Dining
26,531 visits/mo
0.2 miles
ARCO
Shops & Services
17,821 visits/mo
0.2 miles
IHOP
Dining
11,476 visits/mo
0.2 miles
Circle K
Shops & Services
11,450 visits/mo
0.4 miles
Chevron
Shops & Services
10,567 visits/mo
0.2 miles
Demographics for 94401, CA
35,249
Population
13,798
Households
2.6
Avg Household Size
37
Median Age
45%
College-Educated
85%
High-School Grad
3.1 sq mi
ZIP Area
11,371
Density / Sq Mi
$121,258
Median Household Income
$57,724
Median Earnings
$2,713
Median Rent
$1,123,300
Median Home Value
Market
Vacancy Rate% for Retail in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-story building near Downtown San Mateo with flexible options.
Where is this mixed-use property located?
The property is located at 709 B Street San Mateo, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: Prime location steps from Downtown San Mateo.; Flexible mixed‑use zoning (C1‑3/R5) allows for a variety of retail, office, and mixed‑use possibilities.; Vacant and available for immediate repositioning (sale or lease).
