Mixed-Use Victorian Building in San
For Sale
$1,328,000
2924-2926 CESAR CHAVEZ Street, San Francisco, CA 94110
Two-unit mixed-use Victorian building with conversion potential.
Property Size2,664 SF
Price / SF$498.50
Days on Market304
Property Features for 2924-2926 CESAR CHAVEZ Street
General Information
Standard status
Active
Size
2,664 SF
Property subtype
Commercial
Amenities
Carpet Flooring
Laminate Flooring
On Street
Shingle Roof
Tile Flooring
Wall Furnace Heating
Building Details
Year Built
1914
Listing Agency:
INTERO REAL ESTATE SERVICES
(650) 589-1000
Listed By:
ELIZABETH NGUYEN · License #01403644
Source:
Corcoran
Added: Oct 9, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:55AM
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 INTERO REAL ESTATE SERVICES
Investment Insights
Based on property information with market context.
This two-unit mixed-use Victorian building is located in San Francisco. The ground level commercial unit is currently vacant but has an approved site plan for conversion into a two-bedroom, two-bathroom residential unit. The upper residential unit spans two levels and features nine bedrooms and two bathrooms, currently rented room by room to a master tenant, generating approximately $8,000 per month in income. The property is suited for investors, 1031 exchangers, developers, contractors, or first-time homebuyers seeking to occupy one unit and collect rental income from the other. The building offers convenient access to shops, supermarkets, schools, parks, restaurants, and public transportation. Its location provides proximity to Downtown San Francisco and San Francisco International Airport, with easy access to freeways 101 and 280. The property size is 2,664 square feet.
Key Highlights
- Prime investment opportunity: mixed‑use Victorian building in San Francisco.
- Ground‑level commercial unit with approved site plan for conversion to a 2‑bedroom, 2‑bathroom residential unit.
- Upper residential unit: 9 bedrooms, 2 bathrooms, currently rented room by room, generating approximately $8,000/month.
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
$82,374
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
6.20%
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%
$1,647,480
$1.6M
Cap Rate 7%
$1,176,771
$1.2M
Cap Rate 9%
$915,267
$915.3K
Market Conditions
NOI Build-Up for 2,664 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
$159.8K $60.00/SF
− Vacancy
−$10.1K −$3.78/SF
EGI
$149.8K $56.22/SF
− OpEx
−$67.4K −$25.30/SF
NOI
$82.4K $30.92/SF
Area
ZIP 94110
Vacancy
6.30%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
45.00%
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%
$1,647,480
Cap Rate 7%
$1,176,771
Cap Rate 9%
$915,267
Alternative Uses
Best Use
Retail
$12.15M
$10.63M – $14.17M
NOI $850,153 @ 7.0% cap · market cap 64.02%
Second Best
Apartment 5plus
$1.18M
$1.03M – $1.37M
NOI $82,374 @ 7.0% cap · market cap 6.20%
Theoretical Best
Specialty Retail
$13.01M
$11.39M – $15.18M
NOI $910,878 @ 7.0% cap · market cap 68.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,450
Businesses Nearby
22k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 69%
Home Improvements & Furnishings 31%
Shell
Shops & Services
12,811 visits/mo
0.3 miles
Center Hardware & Supply Co., Inc.
Home Improvements & Furnishings
6,720 visits/mo
0.1 miles
Safelite AutoGlass
Shops & Services
920 visits/mo
0.5 miles
Napa Auto Parts
Shops & Services
807 visits/mo
0.5 miles
Navis Pack & Ship
Shops & Services
386 visits/mo
0.5 miles
Demographics for 94110, CA
68,336
Population
30,685
Households
2.2
Avg Household Size
38
Median Age
61%
College-Educated
87%
High-School Grad
2.4 sq mi
ZIP Area
28,473
Density / Sq Mi
$152,403
Median Household Income
$80,431
Median Earnings
$2,404
Median Rent
$1,500,200
Median Home Value
Market
Vacancy Rate% for Retail in San Francisco, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-unit mixed-use Victorian building with conversion potential.
Where is this mixed-use property located?
The property is located at 2924-2926 CESAR CHAVEZ Street San Francisco, CA.
What is the asking price?
The asking price for this property is $1,328,000.
What are key features of this property?
This property features: Prime investment opportunity: mixed‑use Victorian building in San Francisco.; Ground‑level commercial unit with approved site plan for conversion to a 2‑bedroom, 2‑bathroom residential unit.; Upper residential unit: 9 bedrooms, 2 bathrooms, currently rented room by room, generating approximately $8,000/month.
