Office Space - For Sale
1291 East Hillsdale Boulevard Foster City, CA 94404
Details & Description
Price: $17,000,000
  • Property Type Office for Sale : Medical
  • Lot Size Acres 1.500
  • Building Sq Ft 43,549
  • Building Price per Sq Ft $390.36
  • Land Sq Ft 65,340
  • Land Price per Sq Ft $260.18
85.19% Current Occupancy, 50% of the in-place rent is significantly below current market rent.With a current occupancy of 85.19%, Hillsdale Medical Center offers the flexibility to realize positive in-place cash flow and at the same time execute a business plan to create significant value.70% of the tenant roster is Medical/Dental, and recently exercised long-term lease renewals beyond the option term.Typical of medical office buildings, the current tenancy has invested significant tenant improvement dollars into their suites. This investment not only represents their confidence in the project, but also signals long-term commitments to this location.The roof, entire HVAC and elevator equipment were completely replaced in 2019.The replacement of these significant capital items will materially reduce the cost of repairs in the future. The new owner will benefit from the warranties associated with the replaced items.Convenient in-fill location, close proximity to seven hospitals, access to amenitiesThe Hillsdale Medical Center is conveniently located within the Highway 92 medical office corridor. The property offers convenient access from the East Bay via Highway 92 as well as from the Peninsula via interstate 101. The subject property is strategically located within close proximity to seven hospitals including Sutter Health Mills Peninsula Hospital (Burlingame), Sutter Health Mills Hospital (San Mateo), Sequoia Hospital (Redwood City), and Kaiser Permanente (Redwood City, Seton Medical Center (Daily City), Kaiser Permanente (South San Francisco) and San Mateo County Hospital.
Property Highlights
Listing Agents
Bryan Webb
Capital Pacific
O: 415-274-2717
bwebb@capitalpacific.com
While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

1291 East Hillsdale Boulevard

Foster City, CA 94404

Listing ID: 259213
$17,000,000
For Sale
  • Property Type Office for Sale : Medical
  • Lot Size Acres 1.500
  • Building Sq Ft 43,549
  • Building Price per Sq Ft $390.36
  • Land Sq Ft 65,340
  • Land Price per Sq Ft $260.18
  • 1291 East Hillsdale Boulevard Foster City, CA 94404 | for Sale | Photo 1
  • 1291 East Hillsdale Boulevard Foster City, CA 94404 | for Sale | Photo 2
  • 1291 East Hillsdale Boulevard Foster City, CA 94404 | for Sale | Photo 3
1291 East Hillsdale Boulevard | for Sale | Thumbnail 1
1291 East Hillsdale Boulevard | for Sale | Thumbnail 2
1291 East Hillsdale Boulevard | for Sale | Thumbnail 3
Property Highlights
 Building exterior renovation and lobby upgrade
 Remeasuring the building to current BOMA Standards
 Site work and landscaping
 Vacant suite lease-up
 Driving lease rates
Description

85.19% Current Occupancy, 50% of the in-place rent is significantly below current market rent.

With a current occupancy of 85.19%, Hillsdale Medical Center offers the flexibility to realize positive in-place cash flow and at the same time execute a business plan to create significant value.

70% of the tenant roster is Medical/Dental, and recently exercised long-term lease renewals beyond the option term.

Typical of medical office buildings, the current tenancy has invested significant tenant improvement dollars into their suites. This investment not only represents their confidence in the project, but also signals long-term commitments to this location.

The roof, entire HVAC and elevator equipment were completely replaced in 2019.

The replacement of these significant capital items will materially reduce the cost of repairs in the future. The new owner will benefit from the warranties associated with the replaced items.

Convenient in-fill location, close proximity to seven hospitals, access to amenities

The Hillsdale Medical Center is conveniently located within the Highway 92 medical office corridor. The property offers convenient access from the East Bay via Highway 92 as well as from the Peninsula via interstate 101. The subject property is strategically located within close proximity to seven hospitals including Sutter Health Mills Peninsula Hospital (Burlingame), Sutter Health Mills Hospital (San Mateo), Sequoia Hospital (Redwood City), and Kaiser Permanente (Redwood City, Seton Medical Center (Daily City), Kaiser Permanente (South San Francisco) and San Mateo County Hospital.

Attachments & Files

Listing Demographics for 1291 East Hillsdale Boulevard Foster City, CA 94404

All information based on the most recently available data (updated annually) and is provided in 1-mile, 3-mile, and 5-mile radii (radiuses) of the property location.

1-Mile 3-Miles 5-Miles
Total Population16,170115,776228,871
Population Median Age403939
Population by Age0-9 Yrs1985 (12%)15058 (13%)29034 (12%)
10-19 Yrs1485 (9%)11305 (9%)23536 (10%)
20-29 Yrs1920 (11%)14497 (12%)26560 (11%)
30-39 Yrs2895 (17%)20358 (17%)38554 (16%)
40-49 Yrs2364 (14%)17382 (15%)33324 (14%)
50-59 Yrs1943 (12%)14534 (12%)29942 (13%)
60-69 Yrs1667 (10%)11669 (10%)23647 (10%)
70+ Yrs1911 (11%)10972 (9%)24274 (10%)
Median HH Income$145,677$141,918$139,994
Total Household Income< 24K461 (7%)3261 (7%)7261 (8%)
25-49K565 (9%)3623 (8%)7916 (9%)
50-74K296 (4%)3695 (8%)7713 (8%)
75-99K558 (8%)3900 (9%)8415 (9%)
100-199K2260 (36%)14436 (33%)26783 (30%)
200K+2075 (33%)13991 (32%)28775 (33%)
Highest Education LevelNo Diploma496551211053
Diploma or GED825982118510
Some College18101192223627
Assoc. Degree814526310420
Bachelors Degree41932706653417
Higher Degree37982445148996
Total Housing Units6,85145,33892,323
--Owner-Occupied3,19424,13348,937
--Renter-Occupied3,02018,77237,927
Owner-Occupied Values< 100K63439910
100-199K15175474
200-299K078254
300-399K33367566
400-499K33459970
500K+30512261645763
Total Working Age Population13,13393,193184,557
In Work Force8,81966,475130,153
Not In Work Force4,31426,71854,404
Workforce Employed8,50164,054125,515
Workforce Unemployed3172,4214,637
Civlian Workforce8,81966,475130,153
Military Workforce000
Total Households6,21442,90686,864
Family Households4,39828,91557,376
Non-Family Households1,81713,99129,488
Married Couple3,64923,60847,548
Other Family7485,3069,827
Married w/Child1,68311,29222,512
Single Male w/Child736741,213
Single Female w/Child2791,5602,875

Population Change Last Two Decades - Plus Projection

2000%2010%2020%2030
California33,871,648+1037,253,956+940,467,295+843,631,295
Alameda County1,443,741+51,510,271+121,696,752+101,861,027
San Francisco County776,733+4805,235+12903,294+8976,481
San Mateo County707,161+2718,451+9785,650+6833,868

No part of this information may be copied, reproduced, repurposed, or screen-captured for any commercial purpose without prior written authorization from MyEListing.

While we strive to provide the most accurate information, all listing information, and demographic data, is provided by third-parties. As such, MyEListing will not be responsible for the accuracy of the information. It is strongly recommended that you verify all information with the listing agent, and any relevant agencies, prior to making any decisions.

Listing Location & Map Views
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2861 Grove Way, Hayward, CA $3,300,000 9940 0.71
4647 International Boulevard, Oakland, CA $1,700,000 13327 0.6
Closest Commercial Airports
Airport Distance (mi)
San Francisco International Airport (SFO) 7
Metropolitan Oakland International Airport (OAK) 11
Norman Y. Mineta San Jose International Airport (SJC) 23
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