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Leased Investment with Development Upside! 987 Laurel St 1,185 SF Retail Building San Carlos, CA 94070 $2,501,982 CAD ($2,111.38 CAD/SF) 5.09% Cap Rate
INVESTMENT HIGHLIGHTS
- Turn-Key Veterinarian Medical Office. For Lease or Sale, both subject to review of prospect's financial statements.
- Walking distance to Caltrain, El Camino Bus Lines. Convenient location with easy street parking and private parking in back.
- Vibrant, highly visible signage.
- Call Alexander Kent for more information 650-793-0541.
EXECUTIVE SUMMARY
LEASED INVESTMENT TO SAGE VETS WITH DEVELOPMENT UPSIDE.
For Lease or Sale, both subject to review of prospect's financial statements.
MU-N-50: Neighborhood Mix: retail, commercial, and office uses, as well as residential development of up to fifty (50) units per net acre.
Permissible uses: Multi unit residential, family childcare small and large, Residential care - limited, community assembly(minor use permit), cultural (MUP), day care, instructional, schools (CUP), social service (CUP), pet grooming(*5), bank and financial services (mup), business services (9*), restaurant (cup), convenience store (cup), food prep, business and professional office, medical office (9*), personal service. Please speak with a city planner and an architect to confirm whether your use is permissible.
Please do not disturb existing tenant. 48-hour advance notice to tenant required, conducted through listing broker, to tour any portion of the property.
Sage tenant's lease expires 12/31/2026. While they have options to renew, we project that the tenant won't renew and may vacate as early as Summer 2026.
Post Sale NOI= $91,670.06. Approx. 5.1% cap rate at $1,800,000.
$6.50/sf NNN plus $1.83/sf CAMs x 1,185 sf.
Call Alexander Kent for more information. 650-793-0541.
For Lease or Sale, both subject to review of prospect's financial statements.
MU-N-50: Neighborhood Mix: retail, commercial, and office uses, as well as residential development of up to fifty (50) units per net acre.
Permissible uses: Multi unit residential, family childcare small and large, Residential care - limited, community assembly(minor use permit), cultural (MUP), day care, instructional, schools (CUP), social service (CUP), pet grooming(*5), bank and financial services (mup), business services (9*), restaurant (cup), convenience store (cup), food prep, business and professional office, medical office (9*), personal service. Please speak with a city planner and an architect to confirm whether your use is permissible.
Please do not disturb existing tenant. 48-hour advance notice to tenant required, conducted through listing broker, to tour any portion of the property.
Sage tenant's lease expires 12/31/2026. While they have options to renew, we project that the tenant won't renew and may vacate as early as Summer 2026.
Post Sale NOI= $91,670.06. Approx. 5.1% cap rate at $1,800,000.
$6.50/sf NNN plus $1.83/sf CAMs x 1,185 sf.
Call Alexander Kent for more information. 650-793-0541.
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
Retail
Property Subtype
Building Size
1,185 SF
Building Class
B
Year Built
1950
Price
$2,501,982 CAD
Price Per SF
$2,111.38 CAD
Cap Rate
5.09%
NOI
$127,420 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.39
Lot Size
0.07 AC
Zoning
MU-N-50: Neighborhood Mix - retail, commercial, and office uses, as well as residential development of up to fifty (50) units per net acre.
Parking
3 Spaces (2.53 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Signage
- Air Conditioning
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Available for sale or lease.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 1,185 SF | Office/Medical | - | Jan 2027 |
1st Floor
| Size |
| 1,185 SF |
| Space Use |
| Office/Medical |
| Position |
| - |
| Available |
| Jan 2027 |
1st Floor
| Size | 1,185 SF |
| Space Use | Office/Medical |
| Position | - |
| Available | Jan 2027 |
Available for sale or lease.
Walk Score®
Walker's Paradise (95)
Bike Score®
Very Bikeable (74)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 051-358-020 | Total Assessment | $2,388,242 CAD |
| Land Assessment | $1,679,234 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $709,008 CAD | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
051-358-020
Land Assessment
$1,679,234 CAD
Improvements Assessment
$709,008 CAD
Total Assessment
$2,388,242 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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Leased Investment with Development Upside! | 987 Laurel St
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