924 Sansome St - Office FOR SALE


San Francisco, CA 94111- The Embarcadero
$5,800,000 USD
415-948-9952
924 Sansome St, San Francisco, CA for Sale
$5,800,000 USD
Office - FOR SALE
1/8
null | 9.77% Cap Rate

924 Sansome St
San Francisco, CA 94111
The Embarcadero


HIGHLIGHTS

  • Rare full building opportunity.
  • Partial conversion to office already completed.
  • Flexible configuration suitable for single tenant building occupant or demised for two tenants each with separate ground floor entrances & branding.
  • Creative brick and timber construction with high ceilings and heavy power and utilities.
  • Freight elevator services all three levels.
  • Potential for roof deck with partial water views (buyer to confirm).

OVERVIEW

Kidder Mathews is pleased to offer investors a value-add investment opportunity located at 924 Sansome in the heart of Jackson Square/Levi Plaza in San Francisco. For nearly half a century the property was home to Henry’s Hunan, a restaurant chain started by Henry Chung who pioneered spicy Hunanese cuisine in the United States that was memorialized for Henry's food legacy by the New York Times after his death. The property originally featured a ground floor restaurant, second floor banquet room and a full garage at grade in the rear serviced by a roll up door with a freight elevator serving all floors. This property which is close to Jony Ive's new tech hub in Jackson Square has begun the conversion to spec office and is ready for a new owner to complete the work. Conversion to spec office is around 50% complete. OWNER FINANCING AVAILABLE OAC. Recently the ownership begun converting the building to spec office by removing all restaurant equipment and stripping the premises to shell for office improvements. Plans for a two-story single tenant or two independent single floor office tenants been approved by the city and some work towards installing new mechanical and restrooms has commenced. Investors or owner-users will enjoy the flexibility to complete the remaining improvements for office or other use as the flexible C-2 zoning provides for a variety of uses. The property is located on Sansome, a major vehicular thoroughfare exiting the San Francisco FiDi and closely bisects Broadway which cuts through Russian and Nob Hill to the Pacific Heights, Marina, and Cow Hollow Districts. The site straddles the popular Jackson Square and Levi Plaza historic office districts and tenants will benefit from easy access to public transportation, eclectic eateries and proximity to North Beach and Embarcadero Restaurants. The property is believed to have been a former parking garage and then a cold storage facility and under the most recent office conversion permit no additional seismic was required. (buyer to confirm).

FOR SALE DETAILS

PRICE

$5,800,000 USD

PRICE/SF

$302 USD /SF

CAP RATE

9.77%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Office

ADD'L SUBTYPES

Freestanding, Storefront Retail/Office, Medical

TOTAL BUILDING SIZE

-

STORIES

3

BUILDING CLASS

C

YEAR BUILT

1911

SPRINKLERS

-

PARKING SPACES

22

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,273 SF

ZONING

C-2

APN/PARCEL ID

0142-005

ASK ABOUT THIS PROPERTY

Cameron BairdKidder MathewsMore Info
415-948-9952

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Cameron BairdKidder MathewsMore Info
415-948-9952

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.