Rare Office/Medical Bldg. For Sale 477 S San Antonio Rd

Rare Owner-User/Investment opportunity to acquire a freestanding 2,637 square foot building in one of the most desirable locations near Downtown Los Altos. The property is currently vacant allowing for immediate occupancy. The property has 9 parking spaces and a large elevator which is rare for buildings of this size. The property is zoned Office Administrative (OA) which allows for multiple uses - Residential condos, Mixed use, Medical and Dental office, Professional office (Law, Real Estate, Accounting, Physical therapy, Acupuncturist, Psychiatric services, Diagnostic services, skilled nursing facilities, and many more. 100% SBA financing is available for many of these applications.
Located in one of the highest barriers to entry markets in Silicon Valley. The property is located on South San Antonio Road off Foothill Expressway near the corner of Cuesta Drive and 1st Street and is in the main artery leading to Downtown Los Altos. Large monument sign on S San Antonio Road with extremely high visibility and traffic counts. Extremely strong demographics with household incomes in excess of $231,000 in a 1-mile radius.
To comply with State housing mandates the City of Los Altos recently permitted residential only developments and mixed-use developments for this property. This allows high flexibility for owners to easily convert this beautiful 2 story freestanding building into a 2-unit or 3-unit residential condo project or a mixed-use project with retail/office on ground floor and residential condo on 2nd floor. It is a rare opportunity to buy into the coveted Los Altos neighborhood.
- The building currently has 2,637 SF across 2 levels, allowing expansion to 3,200 SF which would create 2 large 1,600 SF condos on each level. Higher density 3 condos are also
possible.
- Built in elevator to connect the two floors making it ideal for ADA accessibility. The building also has separate entrances to the 1st and 2nd floors allowing privacy for residents.
- Prime 0.12 acre location on S San Antonio Rd, a stone’s throw to downtown restaurants and bars as well as easy access to top ranked Los Altos schools
- Dedicated existing 9 parking spots with possibility for further expansion to 10 allowing multiple parking spots for each condo.
- Priced to sell at $1295 per SF, which is a significant discount to the median sale price of $1,700 per SF in Los Altos. The average Los Altos home price is ~$4.2M which is a 7.4%
increase over the past year.