Peninsula Mixed-Use with Development Potential
PRIME El CAMINO FRONTAGE - SAN MATEO
Marketing description
A ±5,000 SF two-story mixed-use building on prime El Camino Real frontage in San Mateo — three ground-floor commercial suites over four residential units on a ±7,500 SF (0.17 AC) C3-1/R4 lot, in one of the Peninsula's most supply-constrained submarkets.
San Mateo is one of the largest cities in San Mateo County, with a population of approximately 102,000. Home to major employers including Sony Interactive Entertainment (PlayStation), Franklin Templeton, GoPro, Roblox, and Snowflake, the city is one of the Mid-Peninsula's principal employment, finance, and technology centers.
The city sits at the intersection of US-101, SR-92, and I-280, and is served by three Caltrain stations — Hillsdale, Hayward Park, and downtown San Mateo — placing it within roughly 25 minutes of San Francisco, 30 minutes of San Jose, and 12 minutes of San Francisco International Airport.
San Mateo's El Camino Real and Rail Corridor have become among the Peninsula's most active mixed-use markets, with the city's Rail Corridor Plan and major transit-oriented projects — Bay Meadows, Station Park Green, and Concar Passage — supporting a sustained pipeline of TOD-scale housing, office, and retail in a market where land scarcity and jobs growth continue to drive value.
Investment highlights
- El Camino Real frontage (±40,000 vehicles per day) within a half-mile of the Hayward Park and Hillsdale Caltrain stations and the city's Rail Corridor Plan TOD area — minutes from Bay Meadows, Hillsdale Shopping Center, and the SR-92 / US-101 interchange.
- Six of seven units are occupied at close — four residential apartments plus two commercial suites — generating $129,900 in current gross income. Suite 2281 is vacant and Suite 2277 is well below market, offering immediate mark-to-market and lease-up upside toward ±$150,906 proforma.
- Severely constrained land supply between San Francisco and San Jose, and a commercial and residential tenant base together support a defensive long-term income hold with optionality for future redevelopment in a market where comparable product rarely trades.
- Flexible C3-1/R4 zoning preserves long-term redevelopment potential along a designated Caltrain TOD corridor, while in-place income covers the hold — a rare combination of current yield and future entitlement upside on the Mid-Peninsula.
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