201-203 S Delaware St 5,075 SF 100% Leased Retail Building San Mateo, CA 94401 $3,288,000 ($647.88/SF) 4.87% Cap Rate

Prime mixed-use investment opportunity in the heart of downtown San Mateo. 201 S Delaware Street features a well-located building with two street-facing retail suites on the ground floor and two residential apartment units above, providing a diversified and stable income stream.
The property benefits from excellent visibility, consistent foot traffic, and proximity to San Mateo’s thriving downtown amenities, transit, and established Peninsula neighborhoods. With long-term demand for both retail and housing in this supply-constrained submarket, the asset offers investors the ability to hold with confidence while maintaining future upside through rent growth, repositioning, or operational improvements.
At just over 5,000 square feet on a 0.13-acre parcel, this is a manageable-scale mixed-use opportunity ideal for private investors or owner-users seeking a high-quality Bay Area asset in one of the Peninsula’s most desirable corridors.