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Urban-High Street

1423-1425 Burlingame Avenue

1423 Burlingame Ave, Burlingame, CA 94010

Listing Price: $7,350,000

Cap Rate
4.42%
Gross SF
6,142
Rentable SF
6,142
Price/Gross SF
$1,196.68
Lot Size
0.22 acres
Year Built
1935

Investment Overview

Marcus and Millichap is pleased to present the opportunity to acquire this 6,314 square foot, fully leased retail building located on in Downtown Burlingame on the Avenue. It sits on a .22 acre parcel with eight (8) on site parking spaces and is adjacent to city lots L and K. The property is occupied by two well established tenants, U.S. Bank and Rasoi Restuarant and Lounge. Located in within the Downtown Specific Plan, BAC (Burlingame Avenue Commercial), a variety of commercial uses are permitted. Development standards permit office use above the 1st floor, a 35 foot height limit (55 feet with a CUP) and building density determined by parking requirements. Several new developments are underway in the area including the revitalization of the Post Office site at 220 Park Road. Approvals are in place for a six-story project including 139,938 square feet of office space over 12,402 square feet of retail and 2 levels of underground parking. The site includes a town square open space component which will serve as the focal point and community gathering space for downtown Burlingame. Numerous shopping, dining and other conveniences are steps away from the property including Walgreens, Safeway, Peets Coffee, the Apple Store and a number of other prominent retailers and dining establishments that attract and drive traffic to this busy retail corridor. The area is affluent with an average household income in excess of $211,000 within a 3 mile radius. The offering is ideal for an investor looking for a well located, stable property with minimal landlord responsibility which will benefit from the ongoing positive changes in Downtown Burlingame.

Investment Highlights

  • Prime Location in Downtown Burlingame on the Avenue
  • 100% Leased to well established tenants US Bank and Rasoi Restaurant and Lounge
  • Zoned Burlingame Avenue Commercial, permits 35 foot height limit (55 feet with CUP)
  • 8 On site parking spaces, adjacent to City parking lots K and L
  • Walgreens, Safeway, Mollie Stones, BevMo!, Apple, Peets and other prominent retailers nearby

Exclusively Listed By

Financing By

Urban-High Street

1423-1425 Burlingame Avenue

Listing Price: $7,350,000

Cap Rate
4.42%
Gross SF
6,142
Rentable SF
6,142
Price/Gross SF
$1,196.68
Lot Size
0.22 acres
Year Built
1935

Investment Highlights

  • Prime Location in Downtown Burlingame on the Avenue
  • 100% Leased to well established tenants US Bank and Rasoi Restaurant and Lounge
  • Zoned Burlingame Avenue Commercial, permits 35 foot height limit (55 feet with CUP)
  • 8 On site parking spaces, adjacent to City parking lots K and L
  • Walgreens, Safeway, Mollie Stones, BevMo!, Apple, Peets and other prominent retailers nearby

Investment Overview

Marcus and Millichap is pleased to present the opportunity to acquire this 6,314 square foot, fully leased retail building located on in Downtown Burlingame on the Avenue. It sits on a .22 acre parcel with eight (8) on site parking spaces and is adjacent to city lots L and K. The property is occupied by two well established tenants, U.S. Bank and Rasoi Restuarant and Lounge. Located in within the Downtown Specific Plan, BAC (Burlingame Avenue Commercial), a variety of commercial uses are permitted. Development standards permit office use above the 1st floor, a 35 foot height limit (55 feet with a CUP) and building density determined by parking requirements. Several new developments are underway in the area including the revitalization of the Post Office site at 220 Park Road. Approvals are in place for a six-story project including 139,938 square feet of office space over 12,402 square feet of retail and 2 levels of underground parking. The site includes a town square open space component which will serve as the focal point and community gathering space for downtown Burlingame. Numerous shopping, dining and other conveniences are steps away from the property including Walgreens, Safeway, Peets Coffee, the Apple Store and a number of other prominent retailers and dining establishments that attract and drive traffic to this busy retail corridor. The area is affluent with an average household income in excess of $211,000 within a 3 mile radius. The offering is ideal for an investor looking for a well located, stable property with minimal landlord responsibility which will benefit from the ongoing positive changes in Downtown Burlingame.

Exclusively Listed By

Financing By

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