Historic Concrete Flex
For Sale
Contact for pricing
1069-1073 Howard Street, San Francisco, CA 94103
Three-level mixed-use flex property with loading access, freight service, and adaptable creative workspace improvements.
Property Size13,800 SF
Lot Size0.09 Acres
Price / SF$412.61
Days on Market9
Property Features for 1069-1073 Howard Street
General Information
Standard status
Active
Size
13,800 SF
Lot size
0.09 Acres
Property subtype
Industrial, Retail
Zoning
Mixed Use General (MUG)
Occupancy
100%
Lease Type
Gross
Site & Location
Highway Access
Yes
Road Access
Yes
Amenities
security cameras
ethernet wiring
kitchens
wine cellar
speakeasy
Building Details
Year Built
1927
Buildings
1
Stories
3
Tenancy
Single
Building Size
13,800 SF
Construction
concrete frame
Listing Agency:
Vanguard Properties San Francisco
(415) 655-5600
Listed By:
Cheryl Maloney · License #CA 0196668
Source:
Crexi
Added: Aug 24
Changed: Aug 31
Last Checked: Aug 31 at 3:47PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Vanguard Properties San Francisco
Investment Insights
Based on property information with market context.
This three-level flex property with a basement contains more than 13,800 square feet across a 3,746-square-foot rectangular lot. The poured-concrete structure was built in 1927 and includes high ceilings, large windows, updated bathrooms, two kitchens, five bathrooms, commercial electrical service, ethernet wiring, and security cameras. A freight elevator, loading dock, and two Howard Street pedestrian entrances support practical circulation between levels.
The building occupies the southeast corner of Howard and Moss streets within the Western SOMA Light Industrial and Residential Historic District. It is located in the Mixed Use General (MUG) Zoning District, the SOMA Youth and Family Zone Special Use District, and the SOMA Special Sign District, with an 85-foot height limit. Transit and regional access include BART, MUNI, CalTrain, bus service, and nearby I-101 and I-280 connections.
The property is fully leased to one tenant, with an option for vacant delivery. Existing use includes collaborative workspace, a letterpress shop, a ground-floor retail store, and specialized creative facilities including a basement speakeasy and wine cellar.
The building occupies the southeast corner of Howard and Moss streets within the Western SOMA Light Industrial and Residential Historic District. It is located in the Mixed Use General (MUG) Zoning District, the SOMA Youth and Family Zone Special Use District, and the SOMA Special Sign District, with an 85-foot height limit. Transit and regional access include BART, MUNI, CalTrain, bus service, and nearby I-101 and I-280 connections.
The property is fully leased to one tenant, with an option for vacant delivery. Existing use includes collaborative workspace, a letterpress shop, a ground-floor retail store, and specialized creative facilities including a basement speakeasy and wine cellar.
Key Highlights
- More than 13,800 square feet per tax records on a 3,746‑square‑foot rectangular lot
- Three levels over a basement with high ceilings, large windows, and usable footage throughout
- Freight elevator and loading dock, including street‑level and truck‑height access on Moss Street
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
$340,037
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
5.97%
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%
$6,800,740
$6.8M
Cap Rate 7%
$4,857,671
$4.9M
Cap Rate 9%
$3,778,189
$3.8M
Market Conditions
NOI Build-Up for 13,800 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
$607.8K $44.04/SF
− Vacancy
−$154.4K −$11.19/SF
EGI
$453.4K $32.85/SF
− OpEx
−$113.3K −$8.21/SF
NOI
$340.0K $24.64/SF
Area
San Francisco, CA
Vacancy
25.40%
Lease Rate
$44.04 /SF/Yr
Expense Ratio
25.00%
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%
$6,800,740
Cap Rate 7%
$4,857,671
Cap Rate 9%
$3,778,189
Alternative Uses
Best Use
Office B
$4.86M
$4.25M – $5.67M
NOI $340,037 @ 7.0% cap · market cap 5.97%
Second Best
Warehouse
$4.07M
$3.56M – $4.75M
NOI $285,039 @ 7.0% cap · market cap 5.01%
Theoretical Best
Specialty Retail
$67.41M
$58.98M – $78.64M
NOI $4,718,513 @ 7.0% cap · market cap 82.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
14,923
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 94103, CA
37,843
Population
20,920
Households
1.8
Avg Household Size
37
Median Age
56%
College-Educated
88%
High-School Grad
1.4 sq mi
ZIP Area
27,031
Density / Sq Mi
$122,339
Median Household Income
$83,348
Median Earnings
$2,146
Median Rent
$1,057,600
Median Home Value
Market
Vacancy Rate% for Office in San Francisco, CA
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Frequently Asked Questions
What type of property is this?
Flex space - Three-level mixed-use flex property with loading access, freight service, and adaptable creative workspace improvements.
Where is this flex space located?
The property is located at 1069-1073 Howard Street San Francisco, CA.
What is the asking price?
The asking price for this property is $5,694,000.
What are key features of this property?
This property features: More than 13,800 square feet per tax records on a 3,746‑square‑foot rectangular lot; Three levels over a basement with high ceilings, large windows, and usable footage throughout; Freight elevator and loading dock, including street‑level and truck‑height access on Moss Street
