1373 Lowrie Ave South San Francisco, CA 94080

This exceptional value-add industrial property in South San Francisco, California, presents a compelling investment opportunity. Located at 1373 Lowrie Ave, 94080, this fee-simple owned, 33,000 square-foot warehouse boasts a prime location, offering easy freeway access and proximity to San Francisco and San Francisco International Airport. The single-story building, constructed in 1971 and renovated in 2006, sits on a one-acre lot and features a 20-foot ceiling height, heavy power, sprinklers, floor drains, and ample off-street parking. Currently 100% occupied by two tenants—an electrician and a USDA-approved baking facility—under a net-net lease structure, the property offers significant upside potential. Lease terms expire in August 2024 (electrician) and August 2027 (bakery), with a weighted average lease term (WALT) of approximately 2.8 years. Rent bumps are set at 3%, and lease options include fair market value (FMV) renewals. The property is zoned MH2 and offers approximately five grade-level doors, one of which can be converted to a dock well. With below-market rents and a low vacancy rate in a competitive market, this property is ideal for investors seeking strong returns or owner-users who can leverage the existing tenancy while planning for future rental increases or occupancy. The projected net operating income (NOI) is expected to increase to over 7% upon lease renewals at market rates. This rare USDA-approved baking facility adds significant value to this already attractive investment.