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Shopping Strip

605 Cambridge Ave

605 Cambridge Ave, Menlo Park, CA 94025

Listing Price: $3,700,000

Cap Rate
1.72%
Gross SF
4,097
Rentable SF
4,097
Price/Gross SF
$903.10
Lot Size
0.19 acres
Year Built
1960

Investment Overview

605 Cambridge Avenue is a +/-4,087 square foot commercial building situated on an +/-8,100 square foot parcel in Menlo Park. The building is configured with three tenant suites, with an average unit size of 1,366 square feet. The property has 12 parking spaces and a parking ratio of 2.93 per 1,000 SF. Currently, the building is 58.0% occupied and has one vacant suite, providing investors with a value-add opportunity. The vacant unit is 1,721 square feet and is configured with one private office, two open office areas, and one restroom. Permitted uses under the El Camino Real and Downtown Specific Plan include: business services, banks and financial institutions, medical and dental offices, business and professional offices, personal services, and general retail sales.

The property is located in the Allied Arts neighborhood and is exceptionally well located for a commercial building. Downtown Menlo Park, downtown Palo Alto, Stanford University, and the Stanford Shopping Center are all less than one mile away. This is a highly sought-after neighborhood and the median household income is $151,014 within one mile of the site. 605 Cambridge Avenue is one parcel back from El Camino Real. Traffic counts along El Camino Real at the subject property exceed 32,500 vehicles per day. There is a traffic signal at El Camino Real and Cambridge Avenue to facilitate access to the site. Additionally, Alto Lane provides circulation between Cambridge Avenue and Harvard Avenue.

El Camino Real in Menlo Park is being transformed by the construction of several major redevelopment projects. The subject is across from Middle Plaza, a mixed-use development that will include 215 multi-family units, 10,000 square feet of retail space, and 143,000 square feet of office space. There are an additional 317 residential units and 360,000 square feet of office/commercial space planned or under construction in the area.

Development in this area is guided by the El Camino Real and Downtown Specific Plan and the land use designation for the site is El Camino Real Mixed Use. This designation allows for a variety of retail, office, residential, and public and semipublic uses. For the El Camino Real South-West area, the base density is a 1.10 floor area ratio and 25 units per acre, with an increase to a 1.50 floor area ratio and 40 units per acre with the inclusion of public benefits.

Investment Highlights

  • Three-tenant retail property in Menlo Park, CA
  • Value-add opportunity; currently 58% occupied
  • 540 residential units and 500,000 SF of commercial space is being developed nearby
  • Exceptional location in the Allied Arts neighborhood
  • Potential for redevelopment with a mixed-use project

Exclusively Listed By

Listing Price: $3,700,000

Cap Rate
1.72%
Gross SF
4,097
Rentable SF
4,097
Price/Gross SF
$903.10
Lot Size
0.19 acres
Year Built
1960

Investment Highlights

  • Three-tenant retail property in Menlo Park, CA
  • Value-add opportunity; currently 58% occupied
  • 540 residential units and 500,000 SF of commercial space is being developed nearby
  • Exceptional location in the Allied Arts neighborhood
  • Potential for redevelopment with a mixed-use project

Investment Overview

605 Cambridge Avenue is a +/-4,087 square foot commercial building situated on an +/-8,100 square foot parcel in Menlo Park. The building is configured with three tenant suites, with an average unit size of 1,366 square feet. The property has 12 parking spaces and a parking ratio of 2.93 per 1,000 SF. Currently, the building is 58.0% occupied and has one vacant suite, providing investors with a value-add opportunity. The vacant unit is 1,721 square feet and is configured with one private office, two open office areas, and one restroom. Permitted uses under the El Camino Real and Downtown Specific Plan include: business services, banks and financial institutions, medical and dental offices, business and professional offices, personal services, and general retail sales.

The property is located in the Allied Arts neighborhood and is exceptionally well located for a commercial building. Downtown Menlo Park, downtown Palo Alto, Stanford University, and the Stanford Shopping Center are all less than one mile away. This is a highly sought-after neighborhood and the median household income is $151,014 within one mile of the site. 605 Cambridge Avenue is one parcel back from El Camino Real. Traffic counts along El Camino Real at the subject property exceed 32,500 vehicles per day. There is a traffic signal at El Camino Real and Cambridge Avenue to facilitate access to the site. Additionally, Alto Lane provides circulation between Cambridge Avenue and Harvard Avenue.

El Camino Real in Menlo Park is being transformed by the construction of several major redevelopment projects. The subject is across from Middle Plaza, a mixed-use development that will include 215 multi-family units, 10,000 square feet of retail space, and 143,000 square feet of office space. There are an additional 317 residential units and 360,000 square feet of office/commercial space planned or under construction in the area.

Development in this area is guided by the El Camino Real and Downtown Specific Plan and the land use designation for the site is El Camino Real Mixed Use. This designation allows for a variety of retail, office, residential, and public and semipublic uses. For the El Camino Real South-West area, the base density is a 1.10 floor area ratio and 25 units per acre, with an increase to a 1.50 floor area ratio and 40 units per acre with the inclusion of public benefits.

Exclusively Listed By

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