Mixed-Use Property with
For Sale
$3,850,000
215-219 Church Street, San Francisco, CA 94114
San Francisco, CA
Property Size5,674 SF
Price / SF$678.53
Days on Market74
Property Features for 215-219 Church Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
1
Full bathrooms
1
Rooms
Bedroom 2, Bedroom 1, Bedroom 7, Bedroom 6, Bedroom 5, Bedroom 3, Bedroom 8, Bedroom 4
Standard status
Active
Size
5,674 SF
Amenities
rear storage
basement storage
Building Details
Year built
1905
Listing Agency:
Engel & Volkers San Francisco Union Street · Engel & Völkers
(415) 689-8592
Listed By:
Michael B Johnston
(415) 794-6453
Added: Jun 22
Changed: Aug 20
Last Checked: Sep 3 at 5:06PM
MLS# 426139755
Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Built in 1905, this 5,674-square-foot mixed-use property combines an operating ground-floor restaurant with two upper-level residential flats. The restaurant includes a dining room, commercial kitchen, bar, patio seating, rear storage, and access to a substantial basement storage area. Its recent renovation and newly executed 10-year lease provide established occupancy at the commercial level, while the residential component consists of two fully occupied four-bedroom, 1.5-bath flats with updated kitchens and bathrooms.
Located at 215-219 Church Street in San Francisco’s Mission Dolores neighborhood, the property has a freshly painted front facade and has been maintained with limited day-to-day oversight described. Tenants pay their own utilities, and the restaurant pays utilities directly. The combination of commercial and residential space creates a diversified, fully leased configuration within a single building.
Located at 215-219 Church Street in San Francisco’s Mission Dolores neighborhood, the property has a freshly painted front facade and has been maintained with limited day-to-day oversight described. Tenants pay their own utilities, and the restaurant pays utilities directly. The combination of commercial and residential space creates a diversified, fully leased configuration within a single building.
Key Highlights
- 5,674‑square‑foot mixed‑use property built in 1905
- Ground‑floor restaurant includes dining room, commercial kitchen, bar, patio, rear storage, and basement storage access
- Two fully occupied 4‑bedroom, 1.5‑bath residential flats
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$184,218
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,684,360
$3.7M
Cap Rate 7%
$2,631,686
$2.6M
Cap Rate 9%
$2,046,867
$2.0M
Market Conditions
NOI Build-Up for 5,674 SF
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.
Gross rent
$357.5K $63.00/SF
− Vacancy
−$22.5K −$3.97/SF
EGI
$334.9K $59.03/SF
− OpEx
−$150.7K −$26.56/SF
NOI
$184.2K $32.47/SF
Area
San Francisco, CA
Vacancy
6.30%
Lease Rate
$63.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$3,684,360
Cap Rate 7%
$2,631,686
Cap Rate 9%
$2,046,867
Alternative Uses
Best Use
Specialty Retail
$27.72M
$24.25M – $32.33M
NOI $1,940,061 @ 7.0% cap · market cap 50.39%
Second Best
Apartment 5plus
$2.63M
$2.30M – $3.07M
NOI $184,218 @ 7.0% cap · market cap 4.78%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
8,206
Businesses Nearby
Explore this area
Business Placement
Demographics for 94114, CA
33,683
Population
18,686
Households
1.8
Avg Household Size
40
Median Age
79%
College-Educated
98%
High-School Grad
1.4 sq mi
ZIP Area
24,059
Density / Sq Mi
$196,528
Median Household Income
$117,677
Median Earnings
$2,898
Median Rent
$1,771,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Fully leased building combines a neighborhood restaurant with two residential flats and updated interiors.
Where is this mixed-use property located?
The property is located at 215-219 Church Street San Francisco, CA.
What is the asking price?
The asking price for this property is $3,850,000.
What are key features of this property?
This property features: 5,674‑square‑foot mixed‑use property built in 1905; Ground‑floor restaurant includes dining room, commercial kitchen, bar, patio, rear storage, and basement storage access; Two fully occupied 4‑bedroom, 1.5‑bath residential flats
