Log In/Sign Up
Your email has been sent.
Leased Investment with Development Upside! 987 Laurel St 1,185 SF Retail Building San Carlos, CA 94070 $1,800,000 ($1,518.99/SF) 5.09% Cap Rate
Investment Highlights
- Turn-Key Veterinarian Medical Office. For Lease or Sale, both subject to review of prospect's financial statements.
- Walking distance to Caltrain, El Camino Bus Lines. Convenient location with easy street parking and private parking in back.
- Vibrant, highly visible signage.
- Call Alexander Kent for more information 650-793-0541.
Executive Summary
LEASED INVESTMENT TO SAGE VETS WITH DEVELOPMENT UPSIDE.
For Lease or Sale, both subject to review of prospect's financial statements.
MU-N-50: Neighborhood Mix: retail, commercial, and office uses, as well as residential development of up to fifty (50) units per net acre.
Permissible uses: Multi unit residential, family childcare small and large, Residential care - limited, community assembly(minor use permit), cultural (MUP), day care, instructional, schools (CUP), social service (CUP), pet grooming(*5), bank and financial services (mup), business services (9*), restaurant (cup), convenience store (cup), food prep, business and professional office, medical office (9*), personal service. Please speak with a city planner and an architect to confirm whether your use is permissible.
Please do not disturb existing tenant. 48-hour advance notice to tenant required, conducted through listing broker, to tour any portion of the property.
Sage tenant's lease expires 12/31/2026. While they have options to renew, we project that the tenant won't renew and may vacate as early as Summer 2026.
Post Sale NOI= $91,670.06. Approx. 5.1% cap rate at $1,800,000.
$6.50/sf NNN plus $1.83/sf CAMs x 1,185 sf.
Call Alexander Kent for more information. 650-793-0541.
For Lease or Sale, both subject to review of prospect's financial statements.
MU-N-50: Neighborhood Mix: retail, commercial, and office uses, as well as residential development of up to fifty (50) units per net acre.
Permissible uses: Multi unit residential, family childcare small and large, Residential care - limited, community assembly(minor use permit), cultural (MUP), day care, instructional, schools (CUP), social service (CUP), pet grooming(*5), bank and financial services (mup), business services (9*), restaurant (cup), convenience store (cup), food prep, business and professional office, medical office (9*), personal service. Please speak with a city planner and an architect to confirm whether your use is permissible.
Please do not disturb existing tenant. 48-hour advance notice to tenant required, conducted through listing broker, to tour any portion of the property.
Sage tenant's lease expires 12/31/2026. While they have options to renew, we project that the tenant won't renew and may vacate as early as Summer 2026.
Post Sale NOI= $91,670.06. Approx. 5.1% cap rate at $1,800,000.
$6.50/sf NNN plus $1.83/sf CAMs x 1,185 sf.
Call Alexander Kent for more information. 650-793-0541.
Financial Summary (Pro Forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
1,185 SF
Building Class
B
Year Built
1950
Price
$1,800,000
Price Per SF
$1,518.99
Cap Rate
5.09%
NOI
$91,670
Tenancy
Single
Building Height
1 Story
Building FAR
0.39
Lot Size
0.07 AC
Zoning
MU-N-50: Neighborhood Mix - retail, commercial, and office uses, as well as residential development of up to fifty (50) units per net acre.
Parking
3 Spaces (2.53 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Signage
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Position
- Available
Available for sale or lease.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 1,185 SF | Office/Medical | - | Jan 2027 |
1st Floor
| Size |
| 1,185 SF |
| Space Use |
| Office/Medical |
| Position |
| - |
| Available |
| Jan 2027 |
1st Floor
| Size | 1,185 SF |
| Space Use | Office/Medical |
| Position | - |
| Available | Jan 2027 |
Available for sale or lease.
Walk Score®
Walker's Paradise (95)
Bike Score®
Very Bikeable (74)
Nearby Major Retailers
Property Taxes
| Parcel Number | 051-358-020 | Total Assessment | $1,731,890 |
| Land Assessment | $1,217,736 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $514,154 | Tax Year | 2025 |
Property Taxes
Parcel Number
051-358-020
Land Assessment
$1,217,736
Improvements Assessment
$514,154
Total Assessment
$1,731,890
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
1 of 8
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
Leased Investment with Development Upside! | 987 Laurel St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.