San Francisco Warehouse For
For Sale
$3,499,000
1114 Howard Street, San Francisco, CA 94103
18,000 sqft warehouse available in San Francisco, CA.
Property Size18,000 SF
Price / SF$194.39
Days on Market216
Property Features for 1114 Howard Street
General Information
Standard status
Active
Size
18,000 SF
Property subtype
Commercial
Amenities
Central air
Central Air Cooling
Elevator/Lift
Flat/Low Pitch Roof
Gas Central Forced Air Heat Heating
Laminate Flooring
On Street
Building Details
Year Built
1926
Listing Agency:
KW ADVISORS
(650) 627-3700
Listed By:
REGAN CHERRINGTON · License #02116601
(650) 436-9316
Source:
Corcoran
Added: Jan 29
Changed: Aug 13
Last Checked: Sep 1 at 8:24PM
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 KW ADVISORS
Investment Insights
Based on property information with market context.
This commercial real estate offering consists of an 18,000 square foot warehouse property located in San Francisco, CA. The property is suitable for warehouse and industrial use.
Key Highlights
- 18,000 sqft warehouse available for purchase.
- Located in San Francisco, CA.
- Built in 1926.
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
$306,180
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
8.75%
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%
$6,123,600
$6.1M
Cap Rate 7%
$4,374,000
$4.4M
Cap Rate 9%
$3,402,000
$3.4M
Market Conditions
NOI Build-Up for 18,000 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
$486.0K $27.00/SF
− Vacancy
−$48.6K −$2.70/SF
EGI
$437.4K $24.30/SF
− OpEx
−$131.2K −$7.29/SF
NOI
$306.2K $17.01/SF
Area
San Francisco, CA
Vacancy
10.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$6,123,600
Cap Rate 7%
$4,374,000
Cap Rate 9%
$3,402,000
Alternative Uses
Best Use
Warehouse
$5.31M
$4.65M – $6.20M
NOI $371,790 @ 7.0% cap · market cap 10.63%
Second Best
Industrial
$4.37M
$3.83M – $5.10M
NOI $306,180 @ 7.0% cap · market cap 8.75%
Theoretical Best
Specialty Retail
$87.92M
$76.93M – $102.58M
NOI $6,154,583 @ 7.0% cap · market cap 175.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
13,414
Businesses Nearby
Well-served
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 Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - 18,000 sqft warehouse available in San Francisco, CA.
Where is this warehouse located?
The property is located at 1114 Howard Street San Francisco, CA.
What is the asking price?
The asking price for this property is $3,499,000.
What are key features of this property?
This property features: 18,000 sqft warehouse available for purchase.; Located in San Francisco, CA.; Built in 1926.
