Two-Story Flex
For Sale
Contact for pricing
260 Shipley Street, San Francisco, CA 94103
Located in SOMA and zoned Mixed Use Residential (MUR), this property offers a flexible two-level commercial layout.
Property Size4,050 SF
Price / SF$543.21
Days on Market8
Property Features for 260 Shipley Street
General Information
Standard status
Active
Size
4,050 SF
Property subtype
Office, Industrial
Zoning
Mixed Use Residential (MUR)
Investment Type
Owner/User
Building Details
Stories
2
Listing Agency:
Calco Commercial, Inc.
Listed By:
Lindsay Cutler · License #02198286
Source:
Crexi
Added: Jul 30
Changed: Aug 4
Last Checked: Aug 6 at 7:06AM
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 Calco Commercial, Inc.
Investment Insights
Based on property information with market context.
This two-story flex space contains 4050 square feet within a flexible configuration. The property is located at 260 Shipley Street and carries Mixed Use Residential (MUR) zoning, providing the defining physical and land-use characteristics identified for the asset.
Situated in San Francisco’s SOMA district, the property is offered for sale as a commercial space with a two-level layout. Its 4050-square-foot size and flexible configuration provide a straightforward platform for evaluating potential occupancy and operating plans within the applicable zoning designation.
Situated in San Francisco’s SOMA district, the property is offered for sale as a commercial space with a two-level layout. Its 4050-square-foot size and flexible configuration provide a straightforward platform for evaluating potential occupancy and operating plans within the applicable zoning designation.
Key Highlights
- 4050 square feet of property size
- Two‑story flexible configuration
- Mixed Use Residential (MUR) zoning
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
$99,794
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
4.54%
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%
$1,995,880
$2.0M
Cap Rate 7%
$1,425,629
$1.4M
Cap Rate 9%
$1,108,822
$1.1M
Market Conditions
NOI Build-Up for 4,050 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
$178.4K $44.04/SF
− Vacancy
−$45.3K −$11.19/SF
EGI
$133.1K $32.85/SF
− OpEx
−$33.3K −$8.21/SF
NOI
$99.8K $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%
$1,995,880
Cap Rate 7%
$1,425,629
Cap Rate 9%
$1,108,822
Alternative Uses
Best Use
Office B
$1.43M
$1.25M – $1.66M
NOI $99,794 @ 7.0% cap · market cap 4.54%
Second Best
Warehouse
$1.20M
$1.05M – $1.39M
NOI $83,653 @ 7.0% cap · market cap 3.80%
Theoretical Best
Specialty Retail
$19.78M
$17.31M – $23.08M
NOI $1,384,781 @ 7.0% cap · market cap 62.94%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
13,936
Businesses Nearby
Balanced
Demand for This Use
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
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Frequently Asked Questions
What type of property is this?
Flex space - Located in SOMA and zoned Mixed Use Residential (MUR), this property offers a flexible two-level commercial layout.
Where is this flex space located?
The property is located at 260 Shipley Street San Francisco, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 4050 square feet of property size; Two‑story flexible configuration; Mixed Use Residential (MUR) zoning
