329 Primrose Rd - Storefront Retail/Office FOR SALE


Burlingame, CA 94010
$11,200,000 USD
415-963-3042
329 Primrose Rd, Burlingame, CA for Sale
$11,200,000 USD
Storefront Retail/Office - FOR SALE
1/28
null | 4.89% Cap Rate

329 Primrose Rd
Burlingame, CA 94010


HIGHLIGHTS

  • Amazon to acquire One Medical (NASDAQ: ONEM) for $3.9 billion.
  • One Medical exercised its first 5-Year option, $4.989/SF NNN commencing October 1st, 2022.
  • USPS exercised its second 5-Year option, $5.26/SF NNN commenced on January 1st, 2020.

OVERVIEW

The subject property, 329 Primrose Road, is 100% occupied by One Medical on the top floor and the United States Postal Service (USPS) on the ground floor. The property is 8,877 SF building on a 5,250 SF parcel. The property is directly south of Highway 101, located half a block from Burlingame Avenue in Downtown Burlingame, with easy access to public transportation. USPS has been a tenant since 2014 and exercised its second of three 5-year options commencing on January 1st, 2020. USPS is currently paying $5.26/SF NNN. One Medical has been a tenant since 2012 and exercised its first 5-year option commencing on October 1st, 2022. One Medical’s rent in October will be $4.989/SF NNN.

FOR SALE DETAILS

PRICE

$11,200,000 USD

PRICE/SF

$1,262 USD /SF

CAP RATE

4.89%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

One Medical to be purchased by Amazon

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1930

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,227 SF

ZONING

Com A

APN/PARCEL ID

029-122-150

ASK ABOUT THIS PROPERTY

Taylor FlynnMarcus & MillichapMore Info
415-963-3042

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Taylor FlynnMarcus & MillichapMore Info
415-963-3042

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.