Mixed-Use Hospitality Corner
1388-1398 California Street San Francisco, CA 94109
For Sale
$6,000,000
Fully occupied corner building with a master-leased hotel operation plus multiple street-level tenants.
Property Size23,436 SF
Price / SF$256.02
Days on Market192
Property Features for 1388-1398 California Street
General Information
- Standard status
- Active
- Size
- 23,436 SF
- Property subtype
- Commercial Sale / Mixed Use
Building Details
- Year Built
- 1907
Listing Agency:
BHG Mason-McDuffie Real Estate
(415) 516-9843
Listed By:
Adam Filly · License #01354775
(415) 516-9843
Source:
Compass
Added: Jan 12
Changed: Jul 23
Last Checked: Jul 23 at 10:53AM
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 BHG Mason-McDuffie Real Estate
Investment Insights
Based on property information with market context.
1388-1398 California Street is a fully occupied commercial property arranged as a multi-tenant hospitality and retail mix. The building is anchored by the Cable Car Hotel master lease, which includes a 70-room operation with 19 tourist hotel rooms and 51 SRO rooms. Additional tenants include a bar, a cannabis dispensary, a florist, and a painter.
The florist and paint studio operate on a month-to-month basis, while the hotel is held under master lease, creating a structured tenant footprint within the same property. Positioned on the prominent corner of California and Hyde in the heart of Nob Hill, the asset benefits from a high-visibility retail/hospitality presence.
The offering is presented as a stable, income-producing property with ongoing tenant occupancy across both the master-leased hotel component and the remaining commercial tenants.
The florist and paint studio operate on a month-to-month basis, while the hotel is held under master lease, creating a structured tenant footprint within the same property. Positioned on the prominent corner of California and Hyde in the heart of Nob Hill, the asset benefits from a high-visibility retail/hospitality presence.
The offering is presented as a stable, income-producing property with ongoing tenant occupancy across both the master-leased hotel component and the remaining commercial tenants.
Key Highlights
- Fully occupied commercial corner property at California & Hyde (Nob Hill) with five commercial tenants
- Cable Car Hotel master lease includes 70‑room operation with 19 tourist hotel rooms and 51 SRO rooms
- Additional street‑level tenants: bar, cannabis dispensary, florist, and painter
Financial Insights For Hotel Hospitality
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $421.8k | $18.00 |
| − Vacancy | −$52.7k | −$2.25 |
| EGI | $369.1k | $15.75 |
| − OpEx | −$193.8k | −$8.27 |
| NOI | $175.3k | $7.48 |
23,436 SF · lease $18.00/SF/yr · vacancy 12.50% · expense 52.50%
Alternative Uses
Best Use
Specialty Retail
$70.43M
$61.63M – $82.17M
NOI $4,930,349 @ 7.0% cap · market cap 82.17%
Second Best
Hotel Hospitality
$2.50M
$2.19M – $2.92M
NOI $175,331 @ 7.0% cap · market cap 2.92%
Theoretical Best
Retail
$106.84M
$93.49M – $124.65M
NOI $7,479,049 @ 7.0% cap · market cap 124.65%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Hotels
FAQs
What type of property is this?
Hotel - Fully occupied corner building with a master-leased hotel operation plus multiple street-level tenants.
Where is this hotel located?
The property is located at 1388-1398 California Street San Francisco, CA.
What is the asking price?
The asking price for this property is $6,000,000.
What are key features of this property?
This property features: Fully occupied commercial corner property at California & Hyde (Nob Hill) with five commercial tenants; Cable Car Hotel master lease includes 70‑room operation with 19 tourist hotel rooms and 51 SRO rooms; Additional street‑level tenants: bar, cannabis dispensary, florist, and painter
