Mission District Commercial
For Sale
$1,495,000
Pending
2235 Mission Street, San Francisco, CA 94110
Commercial condo in vibrant Mission District, San Francisco.
Property Size2,895 SF
Lot Size0.08 Acres
Days on Market331
Property Features for 2235 Mission Street
General Information
Standard status
Pending
Size
2,895 SF
Lot size
0.08 Acres
Property subtype
Commercial
Amenities
Accessible Doors
City Lot
Freeway Nearby
Hospital Nearby
Near Public Transit
Restaurant Nearby
Shopping Nearby
Vinyl Flooring
Building Details
Year Built
1911
Listing Agency:
VANGUARD PROPERTIES
(415) 655-5600
Listed By:
CHERYL J MALONEY · License #0196668
(415) 309-2722
Source:
Corcoran
Added: Oct 9, 2025
Changed: Aug 8
Last Checked: Jul 23 at 7:13AM
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 VANGUARD PROPERTIES
Investment Insights
Based on property information with market context.
This commercial condominium is located in the Mission District of San Francisco. The property features high ceilings and storage space. It includes two front entrances, a front entry way or reception area, and two private bathrooms. An upstairs back mezzanine space provides access to a large outdoor deck. The property is close to public transportation, shopping, restaurants, and the freeway. Previously owner-occupied as a preschool, the space is currently vacant. The property offers potential for a live-work setup. The property size is 2895 square feet.
Key Highlights
- Prime location in the heart of San Francisco's vibrant Mission District.
- Versatile space suitable for owner‑operator or investment property.
- Features a large outdoor deck and mezzanine space.
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
$58,624
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
3.92%
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%
$1,172,480
$1.2M
Cap Rate 7%
$837,486
$837.5K
Cap Rate 9%
$651,378
$651.4K
Market Conditions
NOI Build-Up for 2,895 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
$104.2K $36.00/SF
− Vacancy
−$10.4K −$3.60/SF
EGI
$93.8K $32.40/SF
− OpEx
−$35.2K −$12.15/SF
NOI
$58.6K $20.25/SF
Area
ZIP 94110
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,172,480
Cap Rate 7%
$837,486
Cap Rate 9%
$651,378
Alternative Uses
Best Use
Mixed Use
$837.5K
$732.8K – $977.1K
NOI $58,624 @ 7.0% cap · market cap 3.92%
Second Best
Office B
$835.8K
$731.3K – $975.1K
NOI $58,505 @ 7.0% cap · market cap 3.91%
Theoretical Best
Specialty Retail
$14.14M
$12.37M – $16.50M
NOI $989,862 @ 7.0% cap · market cap 66.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
6,750
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94110, CA
68,336
Population
30,685
Households
2.2
Avg Household Size
38
Median Age
61%
College-Educated
87%
High-School Grad
2.4 sq mi
ZIP Area
28,473
Density / Sq Mi
$152,403
Median Household Income
$80,431
Median Earnings
$2,404
Median Rent
$1,500,200
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.
Similar Off Market Nearby
- S F Council-Parent Prtcptn — 1021 Sanchez St, San Francisco, CA 94114
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- Buena Vista Child Care — 3351 23rd St, San Francisco, CA 94110
- The Preschool — 102 San Jose Avenue, San Francisco, CA 94110
Frequently Asked Questions
What type of property is this?
Day care center - Commercial condo in vibrant Mission District, San Francisco.
Where is this day care center located?
The property is located at 2235 Mission Street San Francisco, CA.
What is the asking price?
The asking price for this property is $1,495,000.
What are key features of this property?
This property features: Prime location in the heart of San Francisco's vibrant Mission District.; Versatile space suitable for owner‑operator or investment property.; Features a **large outdoor deck and mezzanine space.**
