Larkin Street Office For
For Sale
Contact for pricing
1349 Larkin St, San Francisco, CA
Unique owner-user opportunity near Van Ness in San Francisco.
Property Size6,750 SF
Lot Size0.09 Acres
Price / SF$340.74
Days on Market745
Property Features for 1349 Larkin St
General Information
Standard status
Active
Size
6,750 SF
Lot size
0.09 Acres
Property subtype
OFFICE
Listing Agency:
Lee & Associates | San Francisco
(415) 828-2188
Listed By:
David Klein · License #00790730
(415) 828-2188
Source:
Moodyscre
Added: Aug 19, 2024
Changed: Aug 16
Last Checked: Sep 1 at 4:13PM
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 Lee & Associates | San Francisco
Investment Insights
Based on property information with market context.
Located off California Street at 1349 Larkin, this property presents a unique opportunity for an owner-user. The space, formerly an architect's office, spans a single floor with a mezzanine, totaling 6,750 square feet. The property features high ceilings and ample natural light. Its zoning allows for various uses, making it suitable for professional services or other business types. The location offers close proximity to Van Ness.
Key Highlights
- Great owner‑user opportunity with SBA financing
- High ceilings with great natural light
- 6,750 sf single floor with mezzanine
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
$166,323
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
7.23%
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%
$3,326,460
$3.3M
Cap Rate 7%
$2,376,043
$2.4M
Cap Rate 9%
$1,848,033
$1.8M
Market Conditions
NOI Build-Up for 6,750 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
$297.3K $44.04/SF
− Vacancy
−$75.5K −$11.19/SF
EGI
$221.8K $32.85/SF
− OpEx
−$55.4K −$8.21/SF
NOI
$166.3K $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 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%
$3,326,460
Cap Rate 7%
$2,376,043
Cap Rate 9%
$1,848,033
Alternative Uses
Best Use
Office B
$2.38M
$2.08M – $2.77M
NOI $166,323 @ 7.0% cap · market cap 7.23%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$32.97M
$28.85M – $38.47M
NOI $2,307,968 @ 7.0% cap · market cap 100.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
14,443
Businesses Nearby
Explore this area
Business Placement
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 - Unique owner-user opportunity near Van Ness in San Francisco.
Where is this office units located?
The property is located at 1349 Larkin St San Francisco, CA.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Great owner‑user opportunity with SBA financing; High ceilings with great natural light; 6,750 sf single floor with mezzanine
