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    South of Market Multi-Use Building Title is generated by Realmo AI

    1118 Howard Street, San Francisco, CA 94103

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    For Sale
    $4,500,000

    Updated 3-level building near retail corridor and Highway 101.

    Property size:
    13,500 SF
    Price / SF:
    $333/SF
    Added:
    Jun 4, 2025
    Days on Market:
    365
    Last Refresh:
    Mar 16 at 9:09 am

    Property Features for 1118 Howard Street

    General Information

    Standard status
    Active
    Size
    13,500 SF

    Building Details

    Year Built
    1926

    We can help!

    Listing Contact
    SOPHIA LAI-TRUJILLO

    Listing agent SOPHIA LAI-TRUJILLO

    Listing office NEW CALIFORNIA REALTY

    Listing date Jun 4, 2025

    Source Corcoran

    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 NEW CALIFORNIA REALTY

    HighLights

    • Prime South of Market location near Federal buildings, retail corridor, and Highway 101/280.
    • Multiple uses allowed, offering versatile investment or business opportunities.
    • Updated with permits: hydraulic freight elevator, ADA restrooms, fire sprinklers, 800 amps of 3‑phase power, and seismic upgrade.
    • Ground floor includes a rented 2,500 sq ft gym providing immediate income.
    • Two drive‑in doors (8' x 10') facilitate truck delivery and logistics.
    • Vacant 4,500 sq. ft. 3rd‑floor office space with high ceilings, previously occupied by a software developer.

    Overview

    This updated three-level building is located in the South of Market area, near federal buildings, a retail corridor, and Highways 101 and 280, allowing for multiple uses. The ground floor features two wings. The left wing is currently rented as a 2,500-square-foot gym. The right wing, also 2,500 square feet, has been used as a grocery store and a sewing shop and is currently vacant. This wing includes two drive-in doors measuring 8 by 10 feet for truck delivery. The 4,000-square-foot second floor houses an office and sewing/clothing design shop. The updated 4,500-square-foot third-floor office space, previously occupied by a software developer, is now vacant and features high ceilings. Each floor has two bathrooms. Updates to the property, completed with permits, include a hydraulic freight elevator servicing all floors, ADA restrooms, fire sprinklers, an 800-amp 3-phase power supply, and seismic upgrades. The total property size is 13,500 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Kauno Medical Clinic Brian King Physician Bonton S.F. Industrial Manufacturer

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Daycare 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
    -122.41
    Latitude
    37.7778

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    FAQs

    What type of property is this?
    Retail space - Updated 3-level building near retail corridor and Highway 101.
    Where is this retail space located?
    The property is located at 1118 Howard Street San Francisco, CA.
    What is the asking price?
    The asking price for this property is $4,500,000.
    What are key features of this property?
    This property features: Prime South of Market location near Federal buildings, retail corridor, and Highway 101/280.; Multiple uses allowed, offering versatile investment or business opportunities.; Updated with permits: hydraulic freight elevator, ADA restrooms, fire sprinklers, 800 amps of 3‑phase power, and seismic upgrade.
    (415) 378-6034
    We can help!
    Listing Contact
    SOPHIA LAI-TRUJILLO
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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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