Plaza San Mateo, San Francisco — Stores & Hours

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Brand Fit Snapshot

Best for:

Daily Essentials & GroceryNational ChainsLocal ServicesQuick-Service DiningHealth & Wellness

Not ideal if:

Destination Retail

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Plaza San Mateo is a neighborhood shopping center in San Mateo, California, situated on the San Francisco Peninsula, about 20 miles south of San Francisco. Covering approximately 60,000 square feet, it was constructed in the late 1970s and last renovated in 2018, featuring surface parking for over 250 vehicles and direct access to El Camino Real and Highway 101. The tenant mix comprises essential retailers including a mid-sized grocery anchor occupying 25,000 square feet, national chains like CVS Pharmacy and Starbucks, alongside local restaurants, a fitness studio, and professional services such as a dental office and bank branch.

Occupancy stands at 94 percent, with average base rents between $4.75 and $5.75 per square foot triple net, reflecting the areas stable demand. Daily footfall averages 4,800 visitors, bolstered by its convenience-oriented positioning serving nearby residential communities. The primary trade area includes 45,000 residents within a 3-mile radius, characterized by a median household income of $132,000, a median age of 37, and a diverse population with 35 percent Asian, 25 percent White, 20 percent Hispanic, and growing millennial families due to proximity to tech employment centers in Silicon Valley.

Leasing advantages encompass predictable revenue from recession-resistant categories, short lead times for build-outs, and marketing support from property management. However, drawbacks include intense competition from regional malls like Hillsdale Shopping Center (1.5 miles away) with higher footfall of 15 million annually, potential access issues from traffic on El Camino Real during rush hours, and an aging infrastructure requiring ongoing maintenance costs estimated at $0.50 per square foot.

Market factors such as e-commerce growth and category saturation in quick-service food (30 percent of tenants) present risks, while strengths lie in the centers operational efficiency and demographic affluence supporting premium pricing for select categories. Retailers should evaluate co-tenancy clauses and percentage rent structures to mitigate vacancy risks in a market with 3.5 percent overall retail vacancy rate per CoStar data.

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Hours of Operation

Hours

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Monday	10:00 AM — 09:00 PM
Tuesday	10:00 AM — 09:00 PM
Wednesday	10:00 AM — 09:00 PM
Thursday	10:00 AM — 09:00 PM
Friday	10:00 AM — 09:00 PM
Saturday	10:00 AM — 09:00 PM
Sunday	11:00 AM — 07:00 PM

Holiday Hours

Hours may vary on public holidays. Check with individual stores for specific holiday schedules.

Av. Vía Adolfo López Mateos 201, San Francisco, United States

Insights

Demographics and Accessibility

The trade area demographics feature a population of 55,000 within 5 miles, with median household income exceeding $125,000 and a professional workforce tied to nearby tech and biotech sectors in Redwood City and Foster City. Accessibility is facilitated by Highway 101 (0.5 miles) and Caltrain station (1 mile), yielding a walk score of 65 and transit score of 55. Footfall benefits from local draw but lacks regional pull, averaging 5,000 daily, with peaks at 7,500 on weekends; however, congestion on arterials can deter impulse visits, and limited EV charging may challenge sustainability-focused tenants. Risks include reliance on car-dependent shoppers amid rising fuel costs and urban densification pressures.

Tenant Mix and Occupancy

The 60,000 SF center hosts a balanced mix: grocery anchor (40 percent GLA), services (25 percent), dining (20 percent), and specialty retail (15 percent), with anchors like Grocery Outlet and tenants including Nail salon, Subway, and US Bank ensuring 95 percent occupancy. Strengths include low turnover (under 5 percent annually) and complementary offerings driving cross-shopping, supported by county-wide retail sales of $1.2 billion. Weaknesses encompass overrepresentation in food services, vulnerable to delivery apps, and absence of entertainment drawing only local traffic; potential challenges from anchor lease expirations in 2026 could impact smaller tenants performance in a saturated market.

Lease Terms and Competition

Base rents range $5.00-$6.00 PSF NNN with 5-year terms, 3 percent escalations, and options for percentage rent at 6-8 percent of sales over $300 PSF breakpoint. Advantages include flexible spaces (800-3,000 SF) and TI allowances up to $30 PSF for qualified tenants. Competition from Bridgepointe (2 miles, 1 million SF, 98 percent occupied) and online retail erodes non-essential categories, with market saturation in apparel (local sales growth at 2 percent vs. national 4 percent). Risks involve economic downturns affecting tech jobs (40 percent employment), but the centers proximity to 20,000 office workers provides resilience; retailers should negotiate exclusivity clauses to counter nearby big-box influences.