Two-Story Flex Space with
83 E 21st Ave San Mateo, CA 94403
For Sale
Contact for pricing
Ground floor storage/shop includes a Comcast lease through 12-14-2029, with second-floor office and spa-style amenities.
Property Size6,911 SF
Price / SF$397.92
Days on Market55
Property Features for 83 E 21st Ave
General Information
Standard status
Active
Size
6,911 SF
Property subtype
INDUSTRIAL
Listing Agency:
CBRE | San Francisco
(650) 580-0000
Listed By:
David Black · License #00687895
(650) 580-0000
Source:
Moodyscre
Added: Jun 5
Changed: Jul 29
Last Checked: Jul 29 at 7:52AM
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 CBRE | San Francisco
Investment Insights
Based on property information with market context.
This two-story flex space includes a ground floor storage/shop area and a second floor office or potential living area. The second floor is set up with a kitchen, restrooms, and a shower plus sauna, offering flexibility for office or personal-use configurations.
On-site parking is available for 5 to 7 vehicles. The ground floor includes a 2,590-square-foot lease with Comcast through 12-14-2029.
Overall, the property presents a mix of functional storage/shop space below and amenity-equipped space above, with an in-place tenant lease on the ground floor through the stated expiration date.
On-site parking is available for 5 to 7 vehicles. The ground floor includes a 2,590-square-foot lease with Comcast through 12-14-2029.
Overall, the property presents a mix of functional storage/shop space below and amenity-equipped space above, with an in-place tenant lease on the ground floor through the stated expiration date.
Key Highlights
- Ground floor storage/shop leased to Comcast for 2,590 SF through 12‑14‑2029
- Second‑floor office or potential living area includes a kitchen, restrooms, shower, and sauna
- On‑site parking available for 5 to 7 vehicles
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $232.2k | $33.60 |
| − Vacancy | −$53.2k | −$7.69 |
| EGI | $179.0k | $25.91 |
| − OpEx | −$44.8k | −$6.48 |
| NOI | $134.3k | $19.43 |
6,911 SF · lease $33.60/SF/yr · vacancy 22.90% · expense 25.00%
Alternative Uses
Best Use
Office B
$1.92M
$1.68M – $2.24M
NOI $134,275 @ 7.0% cap · market cap 4.88%
Second Best
Industrial
$1.42M
$1.24M – $1.66M
NOI $99,583 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$2.73M
$2.39M – $3.19M
NOI $191,341 @ 7.0% cap · market cap 6.96%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Milk & Waffles — 66 21st Ave, San Mateo, CA 94403
- Servers Standing By Catering — 109 South Blvd, San Mateo, CA 94402
Frequently Asked Questions
What type of property is this?
Flex space - Ground floor storage/shop includes a Comcast lease through 12-14-2029, with second-floor office and spa-style amenities.
Where is this flex space located?
The property is located at 83 E 21st Ave San Mateo, CA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: Ground floor storage/shop leased to Comcast for 2,590 SF through 12‑14‑2029; Second‑floor office or potential living area includes a kitchen, restrooms, shower, and sauna; On‑site parking available for 5 to 7 vehicles
