1939 Divisadero Street, San Francisco, CA 94115

Building Details

Year built 1923 More

Listing Agency: Engel & Volkers San Francisco Union Street · Engel & Völkers S***@engelvoelkers.com Show Phone

Listed By: Michael B Johnston

Added: Jun 26 Changed: Oct 10 Last Checked: Nov 9 at 5:06AM

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MLS# 426142225

Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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Investment Insights

Based on property information with market context.

Built in 1923, this 7,179-square-foot property was converted from residential use into professional office space. It contains 24 individual office suites and one ground-floor retail suite. The tenant roster is primarily made up of therapists and counseling professionals. Three office suites are vacant, and the property has a 6.5% in-place cap rate. Current management may be available to continue after a sale.

The building is located at 1939 Divisadero Street along the Divisadero corridor in San Francisco. Its office and retail components offer distinct space types within the same property.

Key Highlights

• 7,179 square feet, built in 1923
• 24 individual office suites and one ground‑floor retail suite
• Three office vacancies and a 6.5% in‑place cap rate

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$176,893

Cap Rate

5.05%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,537,860 $3.5M

Cap Rate 7%

$2,527,043 $2.5M

Cap Rate 9%

$1,965,478 $2.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 7,179 SF

Gross rent

$316.2K $44.04/SF

− Vacancy

−$80.3K −$11.19/SF

EGI

$235.9K $32.85/SF

− OpEx

−$59.0K −$8.21/SF

NOI

$176.9K $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 Rate 5%

$3,537,860

Cap Rate 7%

$2,527,043

Cap Rate 9%

$1,965,478

Alternative Uses

Best Use

Office B

$2.53M

$2.21M – $2.95M (±1% cap)

NOI $176,893 @ 7.0% cap · market cap 5.05%

Second Best

Mixed Use

$2.29M

$2.00M – $2.67M (±1% cap)

NOI $160,181 @ 7.0% cap · market cap 4.58%

Theoretical Best

Multifamily LT 5

$3.64M

$3.19M – $4.25M (±1% cap)

NOI $255,139 @ 7.0% cap · market cap 7.29%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Lipsyte Gale R ... Physician Krane Loren PhD Physician Dr. Joanna Bornstein Physician danielle j. martino ... Counselor Colvin Francene PHD Physician

Suggested Use

Top Pick Auto Parts Store HVAC Service Barber Shop Electrical Service Carpet & Flooring Store Mobile Phone Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

24

Office units

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

8,217

Businesses Nearby

Explore this area Business Placement

Demographics for 94115, CA

35,853

Population

19,312

Households

1.9

Avg Household Size

38

Median Age

74%

College-Educated

96%

High-School Grad

1.1 sq mi

ZIP Area

32,594

Density / Sq Mi

$154,264

Median Household Income

$103,538

Median Earnings

$2,380

Median Rent

$1,684,100

Median Home Value

Market

Average Price Trend$/SF for Office buildings in San Francisco, CA

$487 Jul

$489 Aug

$440 Sep

$466 Oct

Properties on Market for Office buildings in San Francisco

Jul

Aug

Sep

Oct

Vacancy Rate% for Office in San Francisco, CA

5.4% 2019

15.8% 2020

18.5% 2021

24.1% 2022

32.5% 2023

34.2% 2024

33.1% 2025

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Frequently Asked Questions

What type of property is this?

Office building - A mix of professional office suites and ground-floor retail creates a varied tenant configuration.

Where is this office building located?

The property is located at 1939 Divisadero Street San Francisco, CA.

What is the asking price?

The asking price for this property is $3,500,000.

What are key features of this property?

This property features: 7,179 square feet, built in 1923; 24 individual office suites and one ground‑floor retail suite; Three office vacancies and a 6.5% in‑place cap rate