Remodeled Mixed-Use
For Sale
$1,648,000
869 Woodside Way, San Mateo, CA 94401
Residential Income, San Mateo, CA
Property Size2,317 SF
Lot Size0.05 Acres
Price / SF$711.26
Days on Market60
Property Features for 869 Woodside Way
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
2
Rooms
Bedroom 1, Bedroom 2
Parking features
Covered, Alley
Interior features
Updated Baths, Updated Kitchen, Shower Stall(s)
Subdivision
SAN MATEO VILLAG
Lot features
Level, Street Light(s)
Standard status
Active
APN
032122040
Size
2,317 SF
Lot size
0.05 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air, Central
Water source
Public
Amenities
large display windows
front and rear entrances
newly designed storage and break rooms
enhanced commercial-grade 220V power capacity
New Title 24-compliant lighting
integrated HVAC system
new hot water heater
commercial-grade laminate flooring
updated restroom
Building Details
Year built
1942
Flooring type
Tile, Laminate, Hardwood
Building materials
Stucco, Glass Curtain Wall
Listing Agency:
BHG RE Reliance Partners · Better Homes and Gardens Real Estate
(510) 868-1400
Listed By:
Ting Yu Zhu · License #01461761
(510) 282-9898
Added: Jul 22
Changed: Sep 16
Last Checked: Sep 19 at 12:06PM
MLS# 41142446
Copyright © 2026 bridgeMLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property combines a street-facing commercial unit with an independently accessed upper-level residential unit. The commercial portion was remodeled in 2023 and includes display windows, front and rear entries with sloped ADA-accessible access, storage and break areas, commercial-grade 220V power, Title 24-compliant lighting, integrated HVAC, a new hot water heater, laminate flooring, and an updated restroom. The upper level includes a remodeled kitchen, refreshed bathroom finishes, and hardwood and tile flooring. The 2,317-square-foot property sits on a 0.0509-acre lot and was built in 1942.
Rear parking is covered and reached from the alley. Public water and sewer serve the property. The address is in San Mateo, California, within the 94401 postal area. Interior features include updated baths, an updated kitchen, and a shower stall.
Rear parking is covered and reached from the alley. Public water and sewer serve the property. The address is in San Mateo, California, within the 94401 postal area. Interior features include updated baths, an updated kitchen, and a shower stall.
Key Highlights
- 2,317‑square‑foot mixed‑use property on a 0.0509‑acre lot
- Commercial unit remodeled in 2023 with display windows and separate upper‑level residential access
- Enhanced commercial‑grade 220V electrical capacity and Title 24‑compliant lighting
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
$59,168
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
3.59%
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%
$1,183,360
$1.2M
Cap Rate 7%
$845,257
$845.3K
Cap Rate 9%
$657,422
$657.4K
Market Conditions
NOI Build-Up for 2,317 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
$88.7K $38.28/SF
− Vacancy
−$4.2K −$1.80/SF
EGI
$84.5K $36.48/SF
− OpEx
−$25.4K −$10.94/SF
NOI
$59.2K $25.54/SF
Area
San Mateo, 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%
$1,183,360
Cap Rate 7%
$845,257
Cap Rate 9%
$657,422
Alternative Uses
Best Use
Retail
$845.3K
$739.6K – $986.1K
NOI $59,168 @ 7.0% cap · market cap 3.59%
Second Best
Mixed Use
$670.3K
$586.5K – $782.0K
NOI $46,919 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$916.4K
$801.9K – $1.07M
NOI $64,149 @ 7.0% cap · market cap 3.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
2,091
Businesses Nearby
Explore this area
Business Placement
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Street-level commercial space with display windows, separate residential access, and rear alley parking.
Where is this mixed-use property located?
The property is located at 869 Woodside Way San Mateo, CA.
What is the asking price?
The asking price for this property is $1,648,000.
What are key features of this property?
This property features: 2,317‑square‑foot mixed‑use property on a 0.0509‑acre lot; Commercial unit remodeled in 2023 with display windows and separate upper‑level residential access; Enhanced commercial‑grade 220V electrical capacity and Title 24‑compliant lighting
