Turnkey Office Space in Nob
For Sale
$995,000
1155 Pine Street #17, San Francisco, CA 94109
2,627 SF commercial space in iconic Nob Hill neighborhood.
Property Size2,627 SF
Price / SF$378.76
Days on Market436
Property Features for 1155 Pine Street #17
General Information
Standard status
Active
Size
2,627 SF
Building Details
Year Built
1913
Listing Agency:
CITY REAL ESTATE
Listed By:
BRADLEY JOE
(415) 325-2295
Source:
Corcoran
Added: Jun 26, 2025
Changed: Mar 16
Last Checked: Jul 16 at 9:19AM
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 CITY REAL ESTATE
Investment Insights
Based on property information with market context.
This 2,627 sq ft ground-level commercial space is located in the Nob Hill neighborhood of San Francisco. The space is suitable for law firms, accountants, medical, or wellness practitioners. It features five private offices, two open work areas, a kitchenette, a bathroom, and a spacious reception area. The space has been updated with new paint and carpeting. The layout is flexible and supports a variety of business types and configurations. It has a private street-level entrance. The building's central location provides access to Muni, BART, downtown, Union Square, and the Financial District. The location has a 99 Walk Score and 100 Transit Score.
Key Highlights
- Prime Nob Hill location with exceptional 99 Walk Score and 100 Transit Score.
- Turnkey 2,627 sq ft ground‑level commercial space ideal for professional services.
- Flexible layout with five private offices, two open work areas, kitchenette, bathroom, and spacious reception.
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
$64,730
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
6.51%
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%
$1,294,600
$1.3M
Cap Rate 7%
$924,714
$924.7K
Cap Rate 9%
$719,222
$719.2K
Market Conditions
NOI Build-Up for 2,627 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
$115.7K $44.04/SF
− Vacancy
−$29.4K −$11.19/SF
EGI
$86.3K $32.85/SF
− OpEx
−$21.6K −$8.21/SF
NOI
$64.7K $24.64/SF
Area
ZIP 94109
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%
$1,294,600
Cap Rate 7%
$924,714
Cap Rate 9%
$719,222
Alternative Uses
Best Use
Office B
$924.7K
$809.1K – $1.08M
NOI $64,730 @ 7.0% cap · market cap 6.51%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$11.98M
$10.48M – $13.97M
NOI $838,345 @ 7.0% cap · market cap 84.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
20,067
Businesses Nearby
Explore this area
Business Placement
Demographics for 94109, CA
58,501
Population
39,043
Households
1.5
Avg Household Size
38
Median Age
65%
College-Educated
90%
High-School Grad
1.1 sq mi
ZIP Area
53,183
Density / Sq Mi
$112,201
Median Household Income
$89,841
Median Earnings
$2,172
Median Rent
$1,390,000
Median Home Value
Market
Vacancy Rate% for Office in San Francisco, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - 2,627 SF commercial space in iconic Nob Hill neighborhood.
Where is this office units located?
The property is located at 1155 Pine Street #17 San Francisco, CA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Prime Nob Hill location with exceptional 99 Walk Score and 100 Transit Score.; Turnkey 2,627 sq ft ground‑level commercial space ideal for professional services.; Flexible layout with five private offices, two open work areas, kitchenette, bathroom, and spacious reception.
