SOMA Mixed-Use Work/Live
For Sale
$1,200,000
22 Russ Street, San Francisco, CA 94103
Two-unit mixed-use building in San Francisco's SOMA neighborhood.
Property Size3,750 SF
Price / SF$320
Days on Market249
Property Features for 22 Russ Street
General Information
Standard status
Active
Size
3,750 SF
Property subtype
Mixed Use
Amenities
3
Concrete, Carpet, Wood
Flat
1 Parking Spaces. Garage.
In City.
Building Details
Year Built
1907
Listing Agency:
Urban Group Real Estate
(415) 863-1775
Listed By:
Anastasia Ro Beckett · License #01518102
(415) 863-1775
Source:
Xome
Added: Dec 18, 2025
Changed: Aug 23
Last Checked: Aug 24 at 4:46AM
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 Urban Group Real Estate
Investment Insights
Based on property information with market context.
Located in San Francisco's SOMA neighborhood, 22-24 Russ Street is a two-unit mixed-use building offering approximately 3,750 square feet of space. The property is suitable for both owner-users and investors. Its central location and spacious design make it ideal for creative uses. The building has a walk score of 98 and a transit score of 100.
Key Highlights
- Mixed‑Use Work/Live Building: Offers flexibility for living and working.
- Prime SOMA Location: Situated in a highly desirable San Francisco neighborhood.
- Excellent Walk & Transit Scores: Boasts a transit score of 100 and a walk score of 98, indicating exceptional accessibility.
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
$92,401
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
7.70%
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%
$1,848,020
$1.8M
Cap Rate 7%
$1,320,014
$1.3M
Cap Rate 9%
$1,026,678
$1.0M
Market Conditions
NOI Build-Up for 3,750 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
$165.2K $44.04/SF
− Vacancy
−$41.9K −$11.19/SF
EGI
$123.2K $32.85/SF
− OpEx
−$30.8K −$8.21/SF
NOI
$92.4K $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%
$1,848,020
Cap Rate 7%
$1,320,014
Cap Rate 9%
$1,026,678
Alternative Uses
Best Use
Office B
$1.32M
$1.16M – $1.54M
NOI $92,401 @ 7.0% cap · market cap 7.70%
Second Best
Mixed Use
$1.20M
$1.05M – $1.39M
NOI $83,672 @ 7.0% cap · market cap 6.97%
Theoretical Best
Specialty Retail
$18.32M
$16.03M – $21.37M
NOI $1,282,205 @ 7.0% cap · market cap 106.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
14,923
Businesses Nearby
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
Market
Vacancy Rate% for Office in San Francisco, CA
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-unit mixed-use building in San Francisco's SOMA neighborhood.
Where is this mixed-use property located?
The property is located at 22 Russ Street San Francisco, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Mixed‑Use Work/Live Building: Offers flexibility for living and working.; Prime SOMA Location: Situated in a highly desirable San Francisco neighborhood.; Excellent Walk & Transit Scores: Boasts a transit score of 100 and a walk score of 98, indicating exceptional accessibility.
