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    Outer Sunset Development Opportunity Title is generated by Realmo AI

    1385 46th Avenue, San Francisco, CA 94122

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    Claim this Listing
    Pending
    $3,795,000

    SINGLE_FAMILY - San Francisco, CA

    Type:Office
    Property size:
    8,250 SF
    Lot size:
    0.19 Acres
    Added:
    Aug 6, 2025
    Days on Market:
    283
    Last Refresh:
    May 15 at 4:06 pm

    Property Features for 1385 46th Avenue

    General Information

    Property type
    Residential
    Property subtype
    Office
    Zoning
    CN1
    Standard status
    Pending
    APN
    1801016
    Size
    8,250 SF
    Lot size
    0.19 Acres

    Building Details

    Year built
    1923
    Flooring type
    Tile, Carpet

    We can help!

    Listing Contact
    Sharon Q Lei

    Listing agent Sharon Q Lei

    Listing office eXp Realty of California, Inc 2603 Camino Ramon #200, San Ramon, CA

    Listing date Aug 6, 2025

    MLS# 425063316

    Copyright © 2025 San Francisco Association of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Large combined lot size (approx. 8,250 sq ft) in high‑demand Outer Sunset location.
    • NC1 zoning allows for potential development of up to 42 residential units plus commercial space.
    • Includes two adjacent parcels: 4110‑4118 Judah St & 1385‑1399 46th Ave.
    • Existing building with commercial kitchen.
    • Blocks from Ocean Beach and the Great Highway Park promenade.
    • Convenient access to Muni lines.

    Overview

    Two adjacent parcels, located at 4110-4118 Judah St & 1385-1399 46th Ave in San Francisco, CA, are available for sale together. The property, situated in the Outer Sunset neighborhood, features a lot and building totaling approximately 8,250 square feet. Currently used as a church with a commercial kitchen, the property is zoned NC1. A feasibility study suggests the potential for up to 42 residential units, along with approximately 3,000 square feet of commercial space. The location is just blocks from Ocean Beach, the newly designated Great Highway Park promenade, and Muni lines. The surrounding area includes popular cafes and local amenities. This property presents an opportunity for investors, developers, nonprofits, or public-sector partnerships.

    Financial Insights

    Value Estimation Calculated for Specialty Retail

    Conservative
    $1.69M
    NOI $151,916 @ 9.00% cap · cautious / downside scenario
    Moderate
    $2.17M
    NOI $151,916 @ 7.00% cap · market / base-case scenario
    Aggressive
    $3.04M
    NOI $151,916 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.
         Calculated for Specialty Retail

    Component $ $/SF
    Gross rent $217.8k $26.40
    − Vacancy −$15.2k −$1.85
    EGI $202.6k $24.55
    − OpEx −$50.6k −$6.14
    NOI $151.9k $18.41
    8,250 SF · lease $26.40/SF/yr · vacancy 7.00% · expense 25.00%

    Alternative Use Scenarios

    Best Use
    Specialty Retail
    $2.17M
    $1.90M – $2.53M (±1% cap)
    NOI $151,916 @ 7.0% cap · market cap 4.00%
    Second Best
    Retail
    $2.17M
    $1.89M – $2.53M (±1% cap)
    NOI $151,594 @ 7.0% cap · market cap 3.99%
    Theoretical Best
    Multifamily LT 5
    $3.96M
    $3.46M – $4.62M (±1% cap)
    NOI $276,912 @ 7.0% cap · market cap 7.30%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Churches & religious facilities

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Francisco
    County
    San Mateo
    State
    California
    Longitude
    -122.506122
    Latitude
    37.760663

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    FAQs

    What type of property is this?
    Church & religious facility - Two adjacent parcels in high-demand Outer Sunset neighborhood.
    Where is this church & religious facility located?
    The property is located at 1385 46th Avenue San Francisco, CA.
    What is the asking price?
    The asking price for this property is $3,795,000.
    What are key features of this property?
    This property features: Large combined lot size (approx. 8,250 sq ft) in high‑demand Outer Sunset location.; NC1 zoning allows for potential development of up to 42 residential units plus commercial space.; Includes two adjacent parcels: 4110‑4118 Judah St & 1385‑1399 46th Ave.
    (415) 271-3306
    We can help!
    Listing Contact
    Sharon Q Lei
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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