329 Primrose Rd
Burlingame, CA 94010
USPS & Google backed One Medical - NNN Leases · Retail Property For Sale

The subject property, 329 Primrose Road, is an 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 Ave in Downtown Burlingame with easy access to public transportation. As of 2017, the USPS operates more than 30,800 post offices and locations in the United States. USPS has occupied the space since 2014 with three options to extend the lease for 5-year terms at full market value. One Medical is a private concierge medical company that has 59 offices across the country. One Medical has secured financing from Alphabet’s (Google) global venture fund as well as other notable investors such as the Carlyle group. One Medical is affiliated with 1Life Healthcare, a healthcare and management services company that provides mobile data and technology services, including video visit technology, digital dermatology and nutritional coaching apps. 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.