Mixed-Use Building with Ground
For Sale
$2,790,000
1224 Stockton Street, San Francisco, CA 94133
Ground-floor retail with mezzanine and basement storage, plus two remodeled 2-bed, 2-bath residential units above.
Property Size6,576 SF
Price / SF$424.27
Days on Market254
Property Features for 1224 Stockton Street
General Information
Standard status
Active
Size
6,576 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
2
Building Details
Building Size
6,576 SF
Year Built
1907
Listing Agency:
WEM Pacific Investment, Inc.
Listed By:
Wendy Ng
Source:
Cityrealestatesf
Added: Dec 3, 2025
Changed: Aug 13
Last Checked: Aug 13 at 11:51AM
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 WEM Pacific Investment, Inc.
Investment Insights
Based on property information with market context.
This mixed-use building at 1224-1226 Stockton St. includes ground-level commercial space with a mezzanine and ample storage in the basement. The upper level consists of two vacant residential units, each offering two bedrooms and two bathrooms. Both residential units have been remodeled, providing a turn-key foundation for occupancy once leased.
The property is situated in the heart of Chinatown, with retail and residential space combined within a single ownership. The available configuration supports an operator who wants to manage both the commercial frontage and the residential units from the same building.
For buyers evaluating a mixed-use setup, the building offers an immediately usable commercial component alongside remodeled residential units. The commercial level’s mezzanine and basement storage can help support a range of retail or service concepts, while the two upstairs 2-bedroom, 2-bath layouts provide flexibility for future tenant mix. With both residential units currently vacant, an owner can pursue occupancy on the upper floors while determining the best fit for the ground-level space.
The property is situated in the heart of Chinatown, with retail and residential space combined within a single ownership. The available configuration supports an operator who wants to manage both the commercial frontage and the residential units from the same building.
For buyers evaluating a mixed-use setup, the building offers an immediately usable commercial component alongside remodeled residential units. The commercial level’s mezzanine and basement storage can help support a range of retail or service concepts, while the two upstairs 2-bedroom, 2-bath layouts provide flexibility for future tenant mix. With both residential units currently vacant, an owner can pursue occupancy on the upper floors while determining the best fit for the ground-level space.
Key Highlights
- Mixed‑use commercial and residential building built in 1907
- Ground‑floor commercial space includes a mezzanine and basement storage
- Approx. 6,576 sq. ft. total building size
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
$233,708
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
8.38%
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%
$4,674,160
$4.7M
Cap Rate 7%
$3,338,686
$3.3M
Cap Rate 9%
$2,596,756
$2.6M
Market Conditions
NOI Build-Up for 6,576 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
$355.1K $54.00/SF
− Vacancy
−$21.2K −$3.23/SF
EGI
$333.9K $50.77/SF
− OpEx
−$100.2K −$15.23/SF
NOI
$233.7K $35.54/SF
Area
San Francisco, CA
Vacancy
5.98%
Lease Rate
$54.00 /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%
$4,674,160
Cap Rate 7%
$3,338,686
Cap Rate 9%
$2,596,756
Alternative Uses
Best Use
Retail
$29.98M
$26.23M – $34.98M
NOI $2,098,576 @ 7.0% cap · market cap 75.22%
Second Best
Multifamily LT 5
$3.34M
$2.92M – $3.90M
NOI $233,708 @ 7.0% cap · market cap 8.38%
Theoretical Best
Specialty Retail
$32.12M
$28.11M – $37.47M
NOI $2,248,474 @ 7.0% cap · market cap 80.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
26,927
Businesses Nearby
Explore this area
Business Placement
Demographics for 94133, CA
26,751
Population
15,733
Households
1.7
Avg Household Size
41
Median Age
55%
College-Educated
80%
High-School Grad
0.7 sq mi
ZIP Area
38,216
Density / Sq Mi
$83,025
Median Household Income
$78,478
Median Earnings
$1,985
Median Rent
$1,519,100
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor retail with mezzanine and basement storage, plus two remodeled 2-bed, 2-bath residential units above.
Where is this mixed-use property located?
The property is located at 1224 Stockton Street San Francisco, CA.
What is the asking price?
The asking price for this property is $2,790,000.
What are key features of this property?
This property features: Mixed‑use commercial and residential building built in 1907; Ground‑floor commercial space includes a mezzanine and basement storage; Approx. 6,576 sq. ft. total building size
