Union Square Penthouse
For Sale
$1,945,000
490 Post #1701, San Francisco, CA 94102
Turn-key penthouse condo in Union Square with private rooftop terrace.
Property Size2,244 SF
Price / SF$866.76
Days on Market543
Property Features for 490 Post #1701
General Information
Standard status
Active
Size
2,244 SF
Building Details
Year Built
1925
Listing Agency:
COLDWELL BANKER REALTY
Listed By:
GARRICK LUU
Source:
Corcoran
Added: Apr 22, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 COLDWELL BANKER REALTY
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Investment Insights
Based on property information with market context.
Located in the heart of Union Square, 490 Post Street, Suites 1701 + 1702, presents a unique penthouse condo opportunity. This 2,244 square foot space features 8 private offices and a private rooftop terrace with unobstructed views of Downtown, Nob Hill, and Salesforce Tower. The property is situated in the 'Medico-Dental Building' at 490 Post, a 17-story medical office building designed by George Kelman and constructed in 1928, located half a block from Union Square and across from the St. Francis Hotel. Remodeled in the early 2000s, the space includes vaulted ceilings, storage, exposed original brick, and a spacious lobby that opens to the terrace. Currently operated as a multi-tenant Med Spa with private and shared month-to-month leases, it is suitable for investors and owner-users. The current tenant mix is a blend of high-end medical practices that enjoy cross promotion and synergy. The layout is flexible for various professional services. The views from the private rooftop terrace are unparalleled, facing North and East.
Key Highlights
- Private rooftop terrace with stunning, unobstructed views of Downtown, Nob Hill, and Salesforce Tower.
- Prime Union Square location in the 'Medico‑Dental Building', half a block from Union Square.
- Turn‑key Penthouse Condo, ideal for investors or owner‑users, currently operating as a multi‑tenant Med Spa.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,293
Cap Rate
2.84%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,105,860
$1.1M
Cap Rate 7%
$789,900
$789.9K
Cap Rate 9%
$614,367
$614.4K
Market Conditions
NOI Build-Up for 2,244 SF
Gross rent
$98.8K $44.04/SF
− Vacancy
−$25.1K −$11.19/SF
EGI
$73.7K $32.85/SF
− OpEx
−$18.4K −$8.21/SF
NOI
$55.3K $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 Rate 5%
$1,105,860
Cap Rate 7%
$789,900
Cap Rate 9%
$614,367
Alternative Uses
Best Use
Office B
$789.9K
$691.2K – $921.6K
NOI $55,293 @ 7.0% cap · market cap 2.84%
Second Best
Healthcare Medical
$609.3K
$533.2K – $710.9K
NOI $42,654 @ 7.0% cap · market cap 2.19%
Theoretical Best
Specialty Retail
$10.96M
$9.59M – $12.79M
NOI $767,271 @ 7.0% cap · market cap 39.45%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
28,510
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94102, CA
39,432
Population
23,153
Households
1.7
Avg Household Size
40
Median Age
42%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
56,331
Density / Sq Mi
$64,781
Median Household Income
$55,873
Median Earnings
$1,517
Median Rent
$996,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in San Francisco, CA
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Turn-key penthouse condo in Union Square with private rooftop terrace.
Where is this medical office space located?
The property is located at 490 Post #1701 San Francisco, CA.
What is the asking price?
The asking price for this property is $1,945,000.
What are key features of this property?
This property features: Private rooftop terrace with stunning, unobstructed views of Downtown, Nob Hill, and Salesforce Tower.; Prime Union Square location in the 'Medico‑Dental Building', half a block from Union Square.; Turn‑key Penthouse Condo, ideal for investors or owner‑users, currently operating as a multi‑tenant Med Spa.
