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Urban-High Street

329 Primrose Rd

329 Primrose Rd, Burlingame, CA 94010

Listing Price: $11,200,000

Cap Rate
4.47%
Gross SF
9,300
Rentable SF
8,877
Price/Gross SF
$1,204.30
Lot Size
0.12 acres
Year Built
1945

Investment Overview

The subject property, 329 Primrose Road, is a Medical Office/Retail mixed-use building located in Burlingame, California. The property is positioned on a 0.12-acre parcel, totaling 5,250 square-feet with 8,877 square-feet of rentable building space. The property is directly south of Highway 101, located half a block off of Burlingame Avenue in Downtown Burlingame, with easy access to public transportation. USPS operates more than 30,800 post offices and locations in the United States. USPS has occupied the space since 2014 and exercised the second of three 5-year options (one 5-yr option remaining) to extend at full market value. One Medical is a publicly-traded company on the Nasdaq (ONEM) $4.225 billion market cap. Headquartered in San Francisco, One Medical’s membership-based practice aims to make the quality and accessibility of medical care more enjoyable. There are now 35 offices as of October 2021 and 72 offices nationwide. This offering represents great intrinsic value for the new buyer to own a stable asset in Downtown Burlingame with tenants that provide a stable income with upside in future rents.

Investment Highlights

  • USPS Exercised their second of three 5-year options (option commenced January 1st, 2020)
  • One Medical has 35 Bay Area offices and 72 offices nationwide
  • One Medical (ONEM) is a publicly-traded company on the Nasdaq
  • Located half a block off of Burlingame Avenue

Exclusively Listed By

Urban-High Street

329 Primrose Rd

Listing Price: $11,200,000

Cap Rate
4.47%
Gross SF
9,300
Rentable SF
8,877
Price/Gross SF
$1,204.30
Lot Size
0.12 acres
Year Built
1945

Investment Highlights

  • USPS Exercised their second of three 5-year options (option commenced January 1st, 2020)
  • One Medical has 35 Bay Area offices and 72 offices nationwide
  • One Medical (ONEM) is a publicly-traded company on the Nasdaq
  • Located half a block off of Burlingame Avenue

Investment Overview

The subject property, 329 Primrose Road, is a Medical Office/Retail mixed-use building located in Burlingame, California. The property is positioned on a 0.12-acre parcel, totaling 5,250 square-feet with 8,877 square-feet of rentable building space. The property is directly south of Highway 101, located half a block off of Burlingame Avenue in Downtown Burlingame, with easy access to public transportation. USPS operates more than 30,800 post offices and locations in the United States. USPS has occupied the space since 2014 and exercised the second of three 5-year options (one 5-yr option remaining) to extend at full market value. One Medical is a publicly-traded company on the Nasdaq (ONEM) $4.225 billion market cap. Headquartered in San Francisco, One Medical’s membership-based practice aims to make the quality and accessibility of medical care more enjoyable. There are now 35 offices as of October 2021 and 72 offices nationwide. This offering represents great intrinsic value for the new buyer to own a stable asset in Downtown Burlingame with tenants that provide a stable income with upside in future rents.

Exclusively Listed By

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