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Medical, Housing, School, Gym,Day Care,Church 1761 Laurel St 2,900 SF Office Building San Carlos, CA 94070 $2,512,656 CAD ($866.43 CAD/SF) 4.71% Cap Rate
INVESTMENT HIGHLIGHTS
- Plentiful parking! 6 covered spaces, 4 uncovered spaces, plus easy street parking.
- 1st floor parking could potentially be built out for more retail, office or an apartment to boost NOI on property.
- Stable tenant in place generates income, with mixed development upside.
- 1/2 block off El Camino Real with plentiful public transportation, including bus lines and Caltrain at San Carlos and Redwood City.
- South Laurel is getting redeveloped by the City of San Carlos and developers right now. Call planning about your use.
EXECUTIVE SUMMARY
For Sale or JV. Call listing broker for details. 650-793-0541. Further disclosures available with signed NDA.
Leased Investment with mixed use development upside.
Permitted:
Office – Business and Professional, Medical and Dental Office, General Personal Service, Multi-Unit Residential, Family Child Care, Day Care, Adult Day Care, Trade School, Community Assembly/Church, Instructional, Private School (CUP), Grooming/Pet Store, Veterinary (CUP), Business Services, Restaurant, Bar (CUP), Hotel, Convenience/Grocery, Retail.
MU-SB-100: Mixed-Use South Boulevard
This district is intended to facilitate the transformation of the southeastern portion of Laurel Street into a mixed-use corridor. The physical form varies to transition from MU-N-40 west of Laurel Street to MU-SB-120 on El Camino Real. This district allows a mix of residential development of up to one hundred (100) units per net acre and retail and commercial uses.
Could go 60 feet or 5 stories with existing zoning codes, new state laws could potentially go higher depending on transit assessment. Building is 49 feet wide and 57 feet deep.
Please call the City of San Carlos Planning Department to confirm the permissibility of your use, and please contact me regardless of what they say to discuss it.
https://www.codepublishing.com/CA/SanCarlos/html/SanCarlos18/SanCarlos1805.html#18.05
For buyers/investors that want a leased investment, with a strong tenant, this is a positive scenario for them.
For buyers/investors that want a mixed use or residential development opportunity, with in place lease income, this is a positive scenario for them.
As-Is sale. Seller reserves the right to reject any and all offers. Buyer to inspect as desired.
Existing Lease:
2,900 sf, Stable Tenant for 9 Years
Existing Lease expires 3/31/28.
Gross Revenue = $114,156 / yr
Expenses:
Current Property Tax = $9,848.34 / yr
New Property Tax = 1.1297% x $1,800,000 =
$20,334.60 + $1,529 = $21,863.60 / yr
Property Insurance = $4,000 / yr
Maintenance = $3,600 / yr
Current NOI = $96,707.66 / yr
Proforma NOI = $84,692.40 / yr
Asking Price = $1,800,000
Current Cap = 5.30%
Proforma Cap = 4.7%
Leased Investment with mixed use development upside.
Permitted:
Office – Business and Professional, Medical and Dental Office, General Personal Service, Multi-Unit Residential, Family Child Care, Day Care, Adult Day Care, Trade School, Community Assembly/Church, Instructional, Private School (CUP), Grooming/Pet Store, Veterinary (CUP), Business Services, Restaurant, Bar (CUP), Hotel, Convenience/Grocery, Retail.
MU-SB-100: Mixed-Use South Boulevard
This district is intended to facilitate the transformation of the southeastern portion of Laurel Street into a mixed-use corridor. The physical form varies to transition from MU-N-40 west of Laurel Street to MU-SB-120 on El Camino Real. This district allows a mix of residential development of up to one hundred (100) units per net acre and retail and commercial uses.
Could go 60 feet or 5 stories with existing zoning codes, new state laws could potentially go higher depending on transit assessment. Building is 49 feet wide and 57 feet deep.
Please call the City of San Carlos Planning Department to confirm the permissibility of your use, and please contact me regardless of what they say to discuss it.
https://www.codepublishing.com/CA/SanCarlos/html/SanCarlos18/SanCarlos1805.html#18.05
For buyers/investors that want a leased investment, with a strong tenant, this is a positive scenario for them.
For buyers/investors that want a mixed use or residential development opportunity, with in place lease income, this is a positive scenario for them.
As-Is sale. Seller reserves the right to reject any and all offers. Buyer to inspect as desired.
Existing Lease:
2,900 sf, Stable Tenant for 9 Years
Existing Lease expires 3/31/28.
Gross Revenue = $114,156 / yr
Expenses:
Current Property Tax = $9,848.34 / yr
New Property Tax = 1.1297% x $1,800,000 =
$20,334.60 + $1,529 = $21,863.60 / yr
Property Insurance = $4,000 / yr
Maintenance = $3,600 / yr
Current NOI = $96,707.66 / yr
Proforma NOI = $84,692.40 / yr
Asking Price = $1,800,000
Current Cap = 5.30%
Proforma Cap = 4.7%
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (PRO FORMA - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
2,900 SF
Building Class
B
Year Built
1978
Price
$2,512,656 CAD
Price Per SF
$866.43 CAD
Cap Rate
4.71%
NOI
$118,224 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
2,900 SF
Slab To Slab
8’
Building FAR
0.55
Lot Size
0.12 AC
Zoning
MU-SB-100: Mixed-Use Sout - MU-SB-100: Mixed-Use South Boulevard
Parking
11 Spaces (3.79 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Restaurant
- Signage
- Storage Space
- Air Conditioning
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
-
- Real Estate
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
|
|
Real Estate | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
1 1
Walk Score®
Walker's Paradise (93)
Bike Score®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 051-375-210 | Total Assessment | $1,047,023 CAD |
| Land Assessment | $450,330 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $596,694 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
051-375-210
Land Assessment
$450,330 CAD
Improvements Assessment
$596,694 CAD
Total Assessment
$1,047,023 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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Medical, Housing, School, Gym,Day Care,Church | 1761 Laurel St
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