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Mixed-Use

1769 Fulton St

1769 Fulton St, San Francisco, CA 94117

Listing Price: $2,495,000

Cap Rate
3.45%
Number of Units
4
Occupancy
96.0%
Price/Unit
$623,750
Price/Gross SF
$478.79
Gross SF
5,211

Investment Overview

1769 Fulton Street is a 4 unit, mixed use building located steps fromthe University of San Francisco Campus and across the street from the Lucky Supermarket at Fulton and Masonic in the North Panhandle (NoPa). The property consitis of two retail spaces (currently used as one retaurant) and two, 2-bedroom units on the second floor. The restaurant (Jannah) has operated at this location since January 2009 and is currently on a month-to-month lease. The rent for this space has been temporarily reduced from $5,500 per month to $3,500 per month due to Covid-19. This approximately 2,880 sqft space could be converted back to 2 spaces should a new owner desire two smaller retail footprints. There is a small outdoor patio that could be incorporated into the restaurant space. The ground floor space offers excellent upside through re-tenanting into one or two updated retail/restaurant concepts. The neighborhood comparable leases are inthe $3.50 to $4.00 per sqft range. The current tenant is paying $1.25 per sqft. The apartments consist of hardwood floors, remodelled kitchens and bathrooms and spacious living areas. They are well appointed throughout with new appliances, modern gas ranges and track lighting. Each unit has a seperate hot water heater which the tenants pay for and the proeprty is seperately metered for gas and electric service. The marina style property was built in 1924 on a concrete foundation. The roof is tar and gravel.

Investment Highlights

  • Restaurant tenant is on a month-to-month lease that is well below market rate
  • Excellent Retail location just steps from the 10,000 enrolled students at the University of San Francisco
  • Destination retail and restaurant location surrounded by Papalote Mexican Grill, Barrel Head Brewhouse, Starbucks and Lucky Supermarket at Fulton Market
  • Quick walk to the Panhandle and Haight Ashbury Shops and restaurants

Exclusively Listed By

Mixed-Use

1769 Fulton St

Listing Price: $2,495,000

Cap Rate
3.45%
Number of Units
4
Occupancy
96.0%
Price/Unit
$623,750
Price/Gross SF
$478.79
Gross SF
5,211

Investment Highlights

  • Restaurant tenant is on a month-to-month lease that is well below market rate
  • Excellent Retail location just steps from the 10,000 enrolled students at the University of San Francisco
  • Destination retail and restaurant location surrounded by Papalote Mexican Grill, Barrel Head Brewhouse, Starbucks and Lucky Supermarket at Fulton Market
  • Quick walk to the Panhandle and Haight Ashbury Shops and restaurants

Investment Overview

1769 Fulton Street is a 4 unit, mixed use building located steps fromthe University of San Francisco Campus and across the street from the Lucky Supermarket at Fulton and Masonic in the North Panhandle (NoPa). The property consitis of two retail spaces (currently used as one retaurant) and two, 2-bedroom units on the second floor. The restaurant (Jannah) has operated at this location since January 2009 and is currently on a month-to-month lease. The rent for this space has been temporarily reduced from $5,500 per month to $3,500 per month due to Covid-19. This approximately 2,880 sqft space could be converted back to 2 spaces should a new owner desire two smaller retail footprints. There is a small outdoor patio that could be incorporated into the restaurant space. The ground floor space offers excellent upside through re-tenanting into one or two updated retail/restaurant concepts. The neighborhood comparable leases are inthe $3.50 to $4.00 per sqft range. The current tenant is paying $1.25 per sqft. The apartments consist of hardwood floors, remodelled kitchens and bathrooms and spacious living areas. They are well appointed throughout with new appliances, modern gas ranges and track lighting. Each unit has a seperate hot water heater which the tenants pay for and the proeprty is seperately metered for gas and electric service. The marina style property was built in 1924 on a concrete foundation. The roof is tar and gravel.

Exclusively Listed By

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