Property Overview:
249 Grand Avenue is a mixed-use commercial/residential building in the heart of Downtown South San Francisco, CA, built in 1914. It features a ground-floor commercial space (formerly “The Topper” bar) of 1,550 sq. ft. with two half baths, storage, and an outdoor patio, as well as a 2-bedroom, 1-bath residential flat of 1,097 sq. ft. on the second floor with a living room, dining room, kitchen, and outdoor deck. The property also includes four parking spaces and offers redevelopment potential.
Neighborhood Highlights:
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Prime Location:
Situated on one of the Bay Area’s most vibrant downtown strips, with double frontage on Grand Avenue and 3rd Lane.- Nearby Amenities: Close to parks, restaurants, coffee shops, and grocery stores.
- Transportation: Easy access to Highway 101, Caltrain, BART, and San Francisco International Airport.
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Economic Hub:
- Located in the “Birthplace of Biotechnology,” home to major employers like Genentech and Amgen, providing over 30,000 jobs.
- Surrounded by 1,500+ new apartment units within walking distance, reflecting the area’s rapid growth.
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Zoning:
- Located in the Grand Avenue Core (GAC) zoning district, allowing for high-density residential development above ground-floor retail.
Property Features:
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Ground Floor Commercial Space:
- Formerly “The Topper” bar with art-deco finishes, a fireplace, and a carved wood bar.
- Potential to expand into 2,000+ sq. ft. of outdoor space for dining or other uses.
- Includes a type 48 liquor license (optional purchase for $200,000).
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Residential Flat:
- Spacious 2-bedroom, 1-bath unit with a sundeck.
- Currently rented on a month-to-month basis at below-market rates.
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Development Potential:
- Current building-to-lot size ratio is 35%, allowing for redevelopment, ADU additions, or creating an outdoor patio.
- Architectural plans available to add 899 sq. ft. to the ground floor and convert the bar into a restaurant.
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Investment Opportunity:
- Suitable for owner-occupants or investors.
- Eligible for SBA financing with as low as 10% down payment.
Location Benefits:
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Proximity to Major Areas:
- 15 minutes to Downtown San Francisco.
- 30 minutes to Silicon Valley.
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Growing Real Estate Market:
- South San Francisco has seen a surge in real estate development, with a focus on downtown revitalization.
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Community Appeal:
- Vibrant downtown with a mix of historic charm and modern amenities.
- Ideal for business owners, residents, and investors looking to capitalize on the area’s growth.