1641 El Camino Real Millbrae, CA 94030-1269

Property Details for 1641 El Camino Real

Year built

1948

Lot size

0.17 lot acres

Property size

9,040 SF

Zone code

CL00C1

Property type

Manufacturing properties

APN

021-131-060

APU

21131060

Description

This exceptional investment opportunity presents the Taylor Building, a fully renovated Class B office property located at 1641 El Camino Real, Millbrae, CA 94030. Spanning 9,040 total square feet with 6,977 net rentable square feet, this multi-tenant building offers a diverse mix of executive, medical, and traditional office spaces. Currently boasting 90% occupancy, the property generates a net operating income (NOI) of $177,145, with a pro-forma NOI of $252,825. The asking price is $3,700,000, representing a current cap rate of 4.79% and a pro-forma cap rate of 6.83%. Recent upgrades completed in December 2023 include exterior weatherization, interior painting, and HVAC system improvements. The building benefits from a rear public parking lot and high visibility due to marque signage facing El Camino Real, a major thoroughfare with a daily traffic count of 28,800 vehicles. This property presents a rare opportunity, having been under the same ownership for 50 years, offering significant tax depreciation potential. The lease type is gross, and the property is situated in San Mateo County. This is a compelling investment opportunity in a desirable location with strong potential for future growth and return.