Here’s a summary of what we’re offering, subject to credit and financial review. Two (2) spaces are available for lease, 1 vacant 3,172 sf retail space that can be converted to restaurant with help from the landlord, OR, 1 turn-key 2,000 sf restaurant space.
633 Laurel Street, San Carlos, CA
Lease Opportunity
3,172 sf of Rentable Retail, Restaurant, Fitness, Classes, or Office space
$3.25/sf NNN + $1.40/sf estimated CAMs = $4.65/sf Gross Rent x 3,172 sf = $14,749.80 Gross Rent per month with 3% annual increases to the base rent and pass through CAMs.
7 Year Lease with 3 x 5 year options.
Free Rent During Permitting and Construction
Up to 9 months of free rent for tenant to get building permits and to complete construction.
Construction Expense Reimbursement from the Landlord (TI Credit)
$47.28/sf TI credit x 3,172 sf = $150,000 in additional free rent credit after the above 9 months of free rent.
637 Laurel St:
2,050 sf = $4.50/sf NNN + $1.40/sf CAMs = $12,095 Gross Rent per month with 3% annual increases to the base rent and pass through CAMs.
7 Year Lease with 3 x 5 year options.
Lessee shall pay for all water, sewer, gas, heat, light, power, telephone, trash and other utilities, and maintenance.
637 Laurel: Negotiable FFE / lease buy out.
200 Amps of power, water and gas in place
633 Laurel: Warm Shell Condition
200 Amps of power in place stubbed to suite.
Water and Gas stubbed to suite.
HVAC in place (may need to be replaced).
2 bathrooms in place
We’ve got a fully drafted lease ready to sign upon review of your concept and financials.
Average household Income within San Carlos = $335,000
(Within 1 Mile)
Daytime Employment Total = 16,490 employees
Annual Expenditures: Food and Alcohol = $85,169,403
Annual Total Visits To 600 Block = 1,900,000
In addition to what you see around 633 Laurel today, this is the very prime block in all of San Carlos with the city planning to further enhance both the front of the building and even the back alley parking area.
Tour with exclusive broker, Alex Kent. Call 650-793-0541.
Further, the city has approved 3,000,000 square feet of Class A Office and Biotech development, mostly by the REIT Alexandria. This means approximately 3,000,000 sf / 250 sf = 12,000 new employees in San Carlos alone. Plus, Redwood City next door approved another 5,000,000 sf, and so on and so on.
We’ve also approved about 2,800 new housing units. With 2.5 people per unit, that’s 7,000 additional residents.
https://www.sancarlosdowntownplan.com/
ZONING
MU-DC-100: Mixed-Use Downtown Core: Allowable uses: retail, restaurant, commercial, and office (front 2,500 sf) uses, as well as res. dev. of up to 100 units/acre.
Family Child Care, Small & Large, Residential Care Facilities, Instructional Services/Classes*, Artist Studios*, Vehicle Sales/Leasing*, Banks*, Theaters*, Bars*, Restaurants*, Convenience Grocery Store*, Food Preparation, Bed & Breakfast, Hotels* (if redeveloped with upper floors), Garden Center*, Business and Professional*, Medical and Dental* (if redeveloped with upper floor), General Personal Services*.
*See potential limitations or permit process, if any in City of San Carlos municipal code and from a conversation with a city planner. https://www.codepublishing.com/CA/SanCarlos/#!/SanCarlos18/SanCarlos1805.html#18.05
