Van Ness Commercial
For Sale
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1929 Van Ness Ave, San Francisco, CA 94109
Ground floor commercial condo in the Van Ness Corridor.
Property Size1,455 SF
Price / SF$570.45
Days on Market178
Property Features for 1929 Van Ness Ave
General Information
Standard status
Active
Size
1,455 SF
Property subtype
Office
Zoning
RC-4
Building Details
Year Built
2001
Year Renovated
2024
Listing Agency:
Touchstone Commercial Partners
(415) 539-1121
Listed By:
Zach Haupert · License #CA 01822907
Source:
Crexi
Added: Feb 25
Changed: Aug 9
Last Checked: Aug 21 at 11:01PM
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 Touchstone Commercial Partners
Investment Insights
Based on property information with market context.
This commercial condominium is located on the ground floor of a building in the Van Ness Corridor. The property offers 1455 square feet of space. It is suitable for commercial use.
Key Highlights
- Ground floor location
- Commercial condo
- Van Ness Corridor location
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
$35,852
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
4.32%
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%
$717,040
$717.0K
Cap Rate 7%
$512,171
$512.2K
Cap Rate 9%
$398,356
$398.4K
Market Conditions
NOI Build-Up for 1,455 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
$64.1K $44.04/SF
− Vacancy
−$16.3K −$11.19/SF
EGI
$47.8K $32.85/SF
− OpEx
−$12.0K −$8.21/SF
NOI
$35.9K $24.64/SF
Area
ZIP 94109
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%
$717,040
Cap Rate 7%
$512,171
Cap Rate 9%
$398,356
Alternative Uses
Best Use
Office B
$512.2K
$448.2K – $597.5K
NOI $35,852 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$6.63M
$5.80M – $7.74M
NOI $464,329 @ 7.0% cap · market cap 55.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
11,111
Businesses Nearby
Explore this area
Business Placement
Demographics for 94109, CA
58,501
Population
39,043
Households
1.5
Avg Household Size
38
Median Age
65%
College-Educated
90%
High-School Grad
1.1 sq mi
ZIP Area
53,183
Density / Sq Mi
$112,201
Median Household Income
$89,841
Median Earnings
$2,172
Median Rent
$1,390,000
Median Home Value
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?
Office units - Ground floor commercial condo in the Van Ness Corridor.
Where is this office units located?
The property is located at 1929 Van Ness Ave San Francisco, CA.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: Ground floor location; Commercial condo; Van Ness Corridor location
