Single-Story Industrial
For Sale
$2,395,000
1450 Wallace Ave, San Francisco, CA 94124
Concrete single-story warehouse with three overhead doors, 400-amp service, and roughly 14’ clear height.
Property Size6,976 SF
Price / SF$343.32
Days on Market146
Property Features for 1450 Wallace Ave
General Information
Standard status
Active
Size
6,976 SF
Listing Agency:
City Real Estate
(415) 325-2295
Listed By:
Art M. Tom
(415) 987-6788
Source:
Exprealty
Added: Apr 13
Changed: Sep 3
Last Checked: Sep 4 at 12:59PM
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 City Real Estate
Investment Insights
Based on property information with market context.
1450 Wallace Ave is a single-story concrete industrial warehouse totaling 6,976 SF, situated on a 7,500 SF lot. The building features three skylights and an ADA restroom. Electrical service is listed at 400 amps, with an approximate 14’ clear height.
The front façade includes three overhead doors, with two doors at 12’ clear height and one door at 10’ clear height. Parking is available in the front.
The property is located in the Bayview/Hunters Point Industrial and Green Zone and is described with PDR-2 zoning. Public remarks indicate the property has a clean environmental report, and that tours require an offer (LOI minimum) and are by appointment only. The current tenant is identified as a cannabis cultivator with 8 years of stable tenancy and 2 years remaining on the lease, plus one five-year option and an upcoming rent bump.
The front façade includes three overhead doors, with two doors at 12’ clear height and one door at 10’ clear height. Parking is available in the front.
The property is located in the Bayview/Hunters Point Industrial and Green Zone and is described with PDR-2 zoning. Public remarks indicate the property has a clean environmental report, and that tours require an offer (LOI minimum) and are by appointment only. The current tenant is identified as a cannabis cultivator with 8 years of stable tenancy and 2 years remaining on the lease, plus one five-year option and an upcoming rent bump.
Key Highlights
- Industrial warehouse at 1450 Wallace Ave in San Francisco’s Bayview/Hunters Point Industrial and Green Zone
- Single‑story 6,976 SF concrete building on a 7,500 SF lot with approximately 14’ clear height
- 400‑amp electrical service plus three skylights
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
$144,089
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
6.02%
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%
$2,881,780
$2.9M
Cap Rate 7%
$2,058,414
$2.1M
Cap Rate 9%
$1,600,989
$1.6M
Market Conditions
NOI Build-Up for 6,976 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
$188.4K $27.00/SF
− Vacancy
−$18.8K −$2.70/SF
EGI
$169.5K $24.30/SF
− OpEx
−$25.4K −$3.65/SF
NOI
$144.1K $20.66/SF
Area
San Francisco, CA
Vacancy
10.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
15.00%
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%
$2,881,780
Cap Rate 7%
$2,058,414
Cap Rate 9%
$1,600,989
Alternative Uses
Best Use
Warehouse
$2.06M
$1.80M – $2.40M
NOI $144,089 @ 7.0% cap · market cap 6.02%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$34.07M
$29.82M – $39.75M
NOI $2,385,243 @ 7.0% cap · market cap 99.59%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,550
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 94124, CA
39,445
Population
11,780
Households
3.3
Avg Household Size
37
Median Age
27%
College-Educated
75%
High-School Grad
4.8 sq mi
ZIP Area
8,218
Density / Sq Mi
$82,928
Median Household Income
$42,683
Median Earnings
$1,368
Median Rent
$1,043,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Concrete single-story warehouse with three overhead doors, 400-amp service, and roughly 14’ clear height.
Where is this warehouse located?
The property is located at 1450 Wallace Ave San Francisco, CA.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: Industrial warehouse at 1450 Wallace Ave in San Francisco’s Bayview/Hunters Point Industrial and Green Zone; Single‑story 6,976 SF concrete building on a 7,500 SF lot with approximately 14’ clear height; 400‑amp electrical service plus three skylights
