2575 Flores St
San Mateo, CA 94403
Office Property For Sale

The subject property consists of a 2 story, 7,102 Square Foot commercial building located at the corner of Flores Street and 26th Place in San Mateo. Presently there is one suite on the ground floor and 4 Suites on the 2nd floor. Each floor is approximately 3,551 Square Feet. The property is 100% leased to five tenants on month to month leases at well below market rents. Located on a rectangular 6,521 square foot lot the property has four onsite parking spaces. There is ample street parking along the length of the building on 26th Place and on Flores Street. In addition there are a number of spaces along 25th Avenue. The property is zoned E2-1 (Executive Offices). The zoning permits administrative, executive and professional offices including medical and dental uses. The site is ideally located near public transit including a Bus Stop 1/2 a block away and the new elevated Caltrain station being constructed at 28th Avenue. Development standards permit a 1.0 FAR and up to a 40-foot height limit. More information is available from the City of San Mateo. Grade separations are planned at 25th, 28th and 31st Avenues which will connect the new Bay Meadows development (over 1100 housing units, 40,000 square feet of retail and 765,000 square feet of office space) to El Camino Real and the west side of the tracks. Several large technology tenants have already committed to space including Surveymonkey, Guidewire and Opentext. To the south, Hillsdale Mall is completing a renovation of the North Block which will include open air shops and restaurants. a new food court and a luxury Cineopolis movie theater and Pinstripes bowling alley. To the north other notable developments include the Station Park Green, a 599 mixed use development and the Passage, a 961-unit mixed use development (in the planning stages) both located near highway 92 and Delaware. These new developments are transforming the area bringing in jobs, residents, new amenities and additional demand for goods and services supporting demand for nearby commercial space. The offering is ideal for an investor looking to add value through cosmetic upgrades and rental increases or an owner/user looking to occupy all or a portion of the building and lock in the cost of occupancy in a rising rent environment.