701-705 Laurel St
San Carlos, CA 94070
Commerce de détail Propriété À vendre

Prime downtown San Carlos investment/add value offering. Located on the corner of Laurel and Cherry Street, the building has ground floor retail and office space currently configured into five units. The 2nd floor is comprised of 19 small office units. The building has a total of approximately 14,000 square feet. Value can be added by renovating/modernizing the 2nd floor and converting it into one or two office suites at substantially higher market rents. This will also help capture all of the rentable square footage on the 2nd floor which is not currently included due the floor's configuration.
San Carlos is ready to see significant development in the near future as it aims to meet its requirement to build 2,735 new units from 2023-2031 according to the City's Housing Element. San Carlos commercial rents may benefit as they catch up to neighboring cities San Mateo and Redwood City who's downtown
commercial rents are significantly higher.
The City has permanently closed this section of the street to vehicular traffic and has a vision to transform the 700 block of Laurel Street into a public plaza, thereby paving the way for a more vibrant and pedestrian-friendly downtown.