New Flex Property with 12
For Sale
Contact for pricing
1441-1449 Stevenson St, San Francisco, CA 94103
Brand-new 2022 building offers 12 separately metered flex/PDR suites with 3-phase power.
Property Size17,226 SF
Price / SF$464.41
Days on Market164
Property Features for 1441-1449 Stevenson St
General Information
Standard status
Active
Size
17,226 SF
Property subtype
OFFICE
Additional Details
Heavy Power
Yes
Building Details
Year Built
2022
Listing Agency:
Kidder Mathews | San Francisco
(415) 229-8888
Listed By:
Evan Housel · License #01882475
(415) 229-8922
Source:
Moodyscre
Added: Apr 7
Changed: Sep 4
Last Checked: Sep 16 at 8:21PM
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 Kidder Mathews | San Francisco
Investment Insights
Based on property information with market context.
Completed in 2022, this brand-new flex property is configured with twelve (12) flex/PDR suites. Each unit is separately metered for PG&E, supporting independent utility allocation. The building is described as having 600 amps of 3-phase power, subject to buyer verification.
The property is located in Central Mission, within close proximity to Valencia St and about an 8-minute walk to 16th St BART.
The suites are available with existing short-term leases described as being under market; the listing notes upside rental potential. Financial details are available by contacting the listing broker.
The property is located in Central Mission, within close proximity to Valencia St and about an 8-minute walk to 16th St BART.
The suites are available with existing short-term leases described as being under market; the listing notes upside rental potential. Financial details are available by contacting the listing broker.
Key Highlights
- Brand‑new building completed in 2022
- 12 flex/PDR suites
- Suites are separately metered for PG&E
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
$424,455
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
5.31%
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%
$8,489,100
$8.5M
Cap Rate 7%
$6,063,643
$6.1M
Cap Rate 9%
$4,716,167
$4.7M
Market Conditions
NOI Build-Up for 17,226 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
$758.6K $44.04/SF
− Vacancy
−$192.7K −$11.19/SF
EGI
$565.9K $32.85/SF
− OpEx
−$141.5K −$8.21/SF
NOI
$424.5K $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%
$8,489,100
Cap Rate 7%
$6,063,643
Cap Rate 9%
$4,716,167
Alternative Uses
Best Use
Office B
$6.06M
$5.31M – $7.07M
NOI $424,455 @ 7.0% cap · market cap 5.31%
Second Best
Industrial
$4.19M
$3.66M – $4.88M
NOI $293,014 @ 7.0% cap · market cap 3.66%
Theoretical Best
Specialty Retail
$84.14M
$73.62M – $98.17M
NOI $5,889,935 @ 7.0% cap · market cap 73.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Heavy power
Location Intelligence
Trade Area within ½ mile
9,967
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 94103, CA
37,843
Population
20,920
Households
1.8
Avg Household Size
37
Median Age
56%
College-Educated
88%
High-School Grad
1.4 sq mi
ZIP Area
27,031
Density / Sq Mi
$122,339
Median Household Income
$83,348
Median Earnings
$2,146
Median Rent
$1,057,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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?
Flex space - Brand-new 2022 building offers 12 separately metered flex/PDR suites with 3-phase power.
Where is this flex space located?
The property is located at 1441-1449 Stevenson St San Francisco, CA.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: Brand‑new building completed in 2022; 12 flex/PDR suites; Suites are separately metered for PG&E
