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71 E 3rd Ave 10,672 SF 100% Leased Retail Building San Mateo, CA 94401 For Sale
Investment Highlights
- Significant Value-Add: Current rents averaging 40% below market with 75% of the rentable area up for renewal in 2027.
- Strong Appreciation Potential: Benefit from ongoing development in the immediate CBD, including new office, retail, and 480 housing units.
- Iconic Property: Own a piece of history as the original headquarters of YouTube, offering unique pride of ownership and enduring appeal.
- Stable Passive Income: Enjoy consistent cash flow and minimal management due to 100% net-leased occupancy across three tenants.
- Trophy Downtown Location: Positioned on San Mateo’s most vibrant and heavily trafficked corridor, ensuring robust demand for retail and office space.
Executive Summary
Avison Young is proud to present a rare opportunity to acquire a trophy mixed-use property in an irreplaceable core downtown San Mateo location. This historic property receives recognition as the first YouTube headquarters and the first Amici’s East Coast Pizzeria location, underscoring the property’s significance and enduring appeal.
100% occupied, the property operates under a triple-net lease structure, offering a streamlined management approach for investors. The existing leases are at below-market rents, presenting significant value-add potential through future lease renewals or re-tenanting at prevailing market rates. The property’s high-end demographics and a centralized location within the San Francisco Silicon Valley further solidify its long-term investment appeal.
This is a unique chance to own a landmark asset in a premier location, offering both immediate passive income and substantial upside in a dynamic and high-growth market.
100% occupied, the property operates under a triple-net lease structure, offering a streamlined management approach for investors. The existing leases are at below-market rents, presenting significant value-add potential through future lease renewals or re-tenanting at prevailing market rates. The property’s high-end demographics and a centralized location within the San Francisco Silicon Valley further solidify its long-term investment appeal.
This is a unique chance to own a landmark asset in a premier location, offering both immediate passive income and substantial upside in a dynamic and high-growth market.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
10,672 SF
Building Class
B
Year Built/Renovated
1931/2025
NOI
$408,988
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.88
Lot Size
0.13 AC
Zoning
CB000D
Frontage
52’ on E Third Street
Walk Score®
Walker's Paradise (99)
Bike Score®
Very Bikeable (71)
Nearby Major Retailers
Property Taxes
| Parcel Number | 034-142-110 | Improvements Assessment | $2,546,899 |
| Land Assessment | $3,820,348 | Total Assessment | $6,367,247 |
Property Taxes
Parcel Number
034-142-110
Land Assessment
$3,820,348
Improvements Assessment
$2,546,899
Total Assessment
$6,367,247
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