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Commercial Real Estate in Daly City, CA - 14 Properties Available

Daly City, CA Economic Overview

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Daly City is the largest city in San Mateo County and is immediately south of San Francisco, with the city's western border along the Pacific Coast. This small 7.6 square mile city is home to nearly 105,000 residents. Known as the “Gateway to the Peninsula," the commercial real estate market in Daly City is driven by its proximity to the East Bay of San Francisco and Silicon Valley.

Over the past 40 years, Daly City has seen its population consistently grow and is expected to remain the largest city in San Mateo County for the foreseeable future. Thanks to its centralized location, integrated transportation links and its productive labor force, the City has become a regional hub for retail, healthcare, and business development.

With a median household income of nearly $74,500/year and an unemployment rate of just 4.1%, the economy of Daly City remains strong with its employment base increasing by 2.4% to a labor force of over 56,000 over the past year.

Daly City, CA Commercial Real Estate Market

The Daly City commercial real estate market continues to excel in all asset classes. Over the past year alone, asking prices for properties in the Daly City office market have increased by over 14%, Daly City industrial property asking prices have gone up by more than 15%, and the asking prices for retail property in the City have increased by close to 5%.

New and recent development projects in Daly City include:

  • Pacific Plaza, with a hotel site and the third phase of office property;
  • 88 Hillside in Daly City is a mixed-use development of office, 14,000 square feet of retail space and 95 residential condominiums;
  • Serramonte Center has a new 80,000-square-foot anchor building for Dick's Sporting Goods;
  • 2665 Geneva Avenue is another mixed-use project in Daly City of condominiums and 14,000 square feet of retail space;
  • 7555 Mission Street is an affordable housing development in Daly City consisting of 36 residential condominiums for working families sponsored by Habitat for Humanity.

Daly City is central to the major growth areas of San Francisco and San Mateo Counties and boasts an excellent transportation system linking to San Francisco's Financial District, San Francisco International Airport, the East and South Bay Areas of San Francisco, and Silicon Valley to the south.

Commercial districts in Daly City are strategically located throughout the City:

  • Bayshore commercial district along Geneva Avenue contains a mix of service business and residential property, and is near the west side of San Francisco Bay.;
  • The Mission Street commercial district in Daly City is a mixed-use area consisting of office, commercial, residential, and vacant land.;
  • Pacific Plaza district along Junipero Serra Boulevard is home to free standing retail and office space.;
  • Westlake commercial district with Westlake Center and along John Daly Boulevard contains retail, medical office, and vacant land parcels for development.;
  • Civic Center commercial district in Daly City contains high visibility lots, suitable for mixed-use development, general and medical office space, retail, and warehouse inventory.;
  • Serramonte commercial district, with Serramonte Center, King Plaza, and Gellert Square, and along, Gellert Boulevard, contains vacant land parcels suitable for hotel, residential, and mixed-use development; office space easily accessible to BART; and regional shopping center retail space.

Daly City, CA Office Sales Volume

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Daly City, CA Office Transactions

Data provided by Yardi Matrix, for properties larger than 50K SF, which sold at over $5M.

Daly City, CA Commercial Inventory Breakdown

Office Spaces

Total: 1,060,437 SF

Data provided by Yardi Matrix, properties over 50k SF, includes office with retail

By square footage range:

  • 50k to 100k SF: 537,314 SF / 50.67% of total office
  • 100k to 500k SF: 523,123 SF / 49.33% of total office

By class:

  • Class A: 383,123 SF / 36.13% of total office
  • Class B: 555,226 SF / 52.36% of total office
  • Class C: 62,088 SF / 5.85% of total office

Industrial

Total: 255,420 SF

Data provided by Yardi Matrix, properties over 50k SF

By square footage range:

  • 100k to 500k SF: 255,420 SF / 100% of total industrial

By class:

  • Class B: 255,420 SF / 100% of total industrial

Employment in Daly City, CA

Employment

Job growth in Daly City has increased by nearly 2.4% over the past year, with a current labor force of over 56,000. Nearly 50% of the workforce is employed in the areas of management, administration, food service, sales, and cleaning.

Top employers in Daly City include:

  • Seton Medical Center with over 1,300 employees;
  • Jefferson Elementary & High School Districts with over 1,200 people;
  • City of Daly City with nearly 650 employees;
  • The Cow Palace with over 400 workers;
  • Genesys Telecommunications Laboratories with nearly 300 employees;
  • Target, McDonald's, and Walgreen's with a combined total of nearly 700 workers;
  • St. Francis Convalescent Pavilion with over 200 employees.

Education in Daly City, CA

The public school system in Daly City is operated by several districts including the Jefferson Elementary and High School Districts, the Bayshore Elementary School District, the Brisbane School District, and the South San Francisco Unified School District. Private and parochial schools in Daly City include Our Lady of Mercy and Our Lady of Perpetual Help.

Due to its Bay Area location, post-secondary students in Daly City have access to some of the best colleges and universities in the country including City College of San Francisco, San Francisco State University, California Culinary Academy, San Francisco Conservatory of Music, University of San Francisco, and the American Conservatory Theater.

Commuting Time in Daly City, CA

The average commuting time in Daly City is nearly 29 minutes, longer than for San Mateo County as a whole, with nearly 2.5% of the workforce having a super commute of 90 minutes or more. Due to the excellent transportation system in the City, nearly 20% of the work week commuters use some form of public mass transit and over 13% carpool to work each day.

  • State Routes 1, 35, 82 and Interstate 280 all provide access to and from Daly City.;
  • SamTrans, BART and some San Francisco Muni Lines provide mass transit to Daly City, which has some of the highest use rates in the country.;
  • The deep water international shipping Port of San Francisco is near Daly City.;
  • San Francisco International Airport is only nine miles from Daly City.

Daly City Demographics

Population

  • Total Population106,480
  • Male Population(49.7 %) 52,873
  • Female Population(50.3 %) 53,607
  • Median Age39.00

Income/Financial

  • Average Household Income$101,437
  • Median Household Income$86,342
  • Median Income Under 25$44,701
  • Median Income 25-44$89,825
  • Median Income 45-64$98,271
  • Median Income Over 65$59,813

Residential Rents in Daly City, CA

Nearly 45% of the residents here are renters, making residential and mixed-use development in Daly City a popular investment option. Over the past year, residential rents in Daly City have increased by 12%, with one-bedroom rentals alone increasing by 11% year-over-year.

The average rent for a small 422-square-foot studio apartment in Daly City averages at $1,989/month, while three-bedroom rentals run $4,040/month. Bayshore, Crocker, and Hillside are the most expensive rental areas in Daly City, while Serramonte, St. Francis, and Westlake are relatively more affordable places in which to rent.

News

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