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1373 Lowrie AveSouth San Francisco, CA 94080

Multi-tenant industrial building, high ROI potential.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional value-add industrial property in South San Francisco, California, presents a compelling investment opportunity. Located at 1373 Lowrie Ave, 94080, this fee-simple owned, 33,000 square-foot warehouse boasts a prime location, offering easy freeway access and proximity to San Francisco and San Francisco International Airport. The single-story building, constructed in 1971 and renovated in 2006, sits on a one-acre lot and features a 20-foot ceiling height, heavy power, sprinklers, floor drains, and ample off-street parking. Currently 100% occupied by two tenants—an electrician and a USDA-approved baking facility—under a net-net lease structure, the property offers significant upside potential. Lease terms expire in August 2024 (electrician) and August 2027 (bakery), with a weighted average lease term (WALT) of approximately 2.8 years. Rent bumps are set at 3%, and lease options include fair market value (FMV) renewals. The property is zoned MH2 and offers approximately five grade-level doors, one of which can be converted to a dock well. With below-market rents and a low vacancy rate in a competitive market, this property is ideal for investors seeking strong returns or owner-users who can leverage the existing tenancy while planning for future rental increases or occupancy. The projected net operating income (NOI) is expected to increase to over 7% upon lease renewals at market rates. This rare USDA-approved baking facility adds significant value to this already attractive investment.

Highlights

  • 33,000 SF multi-tenant warehouse in South San Francisco, CA.
  • Fee-simple owned, with two tenants (electrician and USDA-approved bakery) under net-net leases.
  • Weighted average lease term (WALT) of approximately 3 years, with rent bumps at 3% and FMV renewal options.
  • Features include 20-foot ceilings, heavy power, sprinklers, floor drains, ample parking, and approximately five grade-level doors (one convertible to a dock).
  • Prime location with easy freeway access, proximity to San Francisco and SFO, and low vacancy rates. Significant upside potential due to below-market rents.

Property Details for 1373 Lowrie Ave

Property type
Warehouses, Industrial properties
Square Feet
33,000 SF
Year Built/Renovated
1971/2006
Buildings
1
Stories
1
Lot Size (sq. ft)
43,560 SF
Units
2

Location Insight

City
South San Francisco
County
San Mateo
State
California
Latitude
37.6474063
Longitude
-122.4112459
1373 Lowrie Ave, South San Francisco, California

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1373 Lowrie Ave
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