Commercial Real Estate Market in San Mateo, CA
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
173 active listings and 1,928 off-market properties in San Mateo, CA. Commercial property asks $706/SF to buy and $26.57/SF/Yr to lease.
Market Trends
San Mateo, CA spans 18.1 square miles in San Mateo County, California. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in San Mateo, CA asks $482/SF to buy. Vacancy runs 20.8% across the West region in 2025, up from 11% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Retail
Retail space in San Mateo, CA asks $538/SF to buy. Vacancy runs 5.8% across the West region in 2025, down from 7% in 2020.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Industrial
Industrial vacancy in San Mateo, CA runs 7.9% across the West region in 2025, up from 3.7% in 2019. Nearly 3.2x the 2022 low of 2.5%.
Vacancy Rate % in West region
Multifamily
Multifamily space in San Mateo, CA asks $671/SF to buy. Vacancy runs 8.6% across the West region in 2025, up from 7% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in West region
Market overview
Demographics & Economy
San Mateo, CA has 143,508 residents in 57,269 households. Density runs 7,908 people per square mile. Median household income here is $166,088 and median gross rent $3,231 a month.
143,508
Population
57,269
Households
2.5
Avg Household Size
39
Median Age
62%
College-Educated
92%
High-School Grad
18.1 sq mi
ZIP Area
7,908
Density / Sq Mi
$166,088
Median Household Income
$93,816
Median Earnings
$3,231
Median Rent
$1,616,081
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Burlingame | — | $12.89 |
| Foster City | — | — |
| Millbrae | — | $41.02 |
Commercial property in San Mateo, CA asks $706/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in San Mateo?
Commercial property in San Mateo, CA asks an average of $706 per square foot. The 4 most recent recorded sales traded at a median of $473/SF, so asking sits 49% above the achieved median. Multifamily carries the highest asking price at $671/SF.
How much does it cost to lease commercial space in San Mateo?
Asking lease rates in San Mateo, CA average $26.57 per square foot per year.
Where does Realmo's San Mateo market data come from?
Realmo compiles San Mateo, CA figures from 6 recent recorded sales, 47 active sale listings, 126 active lease listings, 1,928 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 47 active for-sale and 126 active for-lease listings in San Mateo, CA. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at West region level, retail vacancy is reported at West region level and industrial vacancy is reported at West region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · report a data issue
