Integrated Live/Work Creative
For Sale
$4,500,000
Pending
266 14th Street, San Francisco, CA 94103
Adaptable live/work property designed for functionality and creative expression.
Property Size10,102 SF
Days on Market95
Property Features for 266 14th Street
General Information
Standard status
Pending
Size
10,102 SF
Property subtype
Mixed Use
Building Details
Building Size
10,102 SF
Year Built
1924
Listing Agency:
Sotheby's International Realty
(415) 351-4656
Listed By:
Donald Sambucci
Source:
Bonniespindler
Added: May 21
Changed: Aug 23
Last Checked: Aug 4 at 7:36AM
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 Sotheby's International Realty
Investment Insights
Based on property information with market context.
This integrated live/work property is designed for those who value functionality and creative expression. Combining architectural scale and modern adaptability, it offers the opportunity to own a space that supports a dynamic, multi-purpose lifestyle. Originally a Lucky Strike warehouse, and later home to the avant-garde Capp Street Project and an art studio for 20 years, this property carries a legacy of innovation and cultural relevance. Its industrial origins remain evident, while thoughtful transformations have created a flexible environment designed by Stanley Saitowitz. At the center is a 50-by-60-foot main hall with 24-foot ceilings, a skylit pitched roof, and a suspended sculptural spiral iron staircase leading from the ground floor to a rooftop deck. This expansive space is suited for a collaborative workspace, gallery, production studio, or event venue. The mezzanine level introduces a refined residential element. The primary suite, approximately 30 x 19 ft, offers a private retreat with a spa-like bath, a 10 X 13 walk-in closet, and direct access to a large private office on the ground floor. A green wall and skylight soften the industrial aesthetic. A 39-foot silvery granite island anchors the open kitchen, which flows into generous living and dining areas that is almost 51 X 21 ft with a fireplace suited for entertaining or informal meetings. Two additional ensuite rooms and a flexible space with a green wall for work outs or collaborators are included, as well as a laundry room and an additional staircase leading down to the main level. A wide garage fits 2 cars s/s with 2 EV charging stations and ample storage. Adaptable and distinctive, this 10,102 square foot property is suited for residential living, creative production, business use, or a hybrid of all three.
Key Highlights
- Unique live/work property suitable for residential living, creative production, or business use.
- Dramatic 50‑by‑60‑foot main hall with 24‑foot ceilings and skylit pitched roof.**
- Primary suite with spa‑like bath, 10 X 13 walk‑in closet, and direct access to a large private office.**
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
$248,917
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
5.53%
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%
$4,978,340
$5.0M
Cap Rate 7%
$3,555,957
$3.6M
Cap Rate 9%
$2,765,744
$2.8M
Market Conditions
NOI Build-Up for 10,102 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
$444.9K $44.04/SF
− Vacancy
−$113.0K −$11.19/SF
EGI
$331.9K $32.85/SF
− OpEx
−$83.0K −$8.21/SF
NOI
$248.9K $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 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%
$4,978,340
Cap Rate 7%
$3,555,957
Cap Rate 9%
$2,765,744
Alternative Uses
Best Use
Office B
$3.56M
$3.11M – $4.15M
NOI $248,917 @ 7.0% cap · market cap 5.53%
Second Best
Mixed Use
$3.22M
$2.82M – $3.76M
NOI $225,401 @ 7.0% cap · market cap 5.01%
Theoretical Best
Specialty Retail
$49.34M
$43.18M – $57.57M
NOI $3,454,088 @ 7.0% cap · market cap 76.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
9,867
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Adaptable live/work property designed for functionality and creative expression.
Where is this mixed-use property located?
The property is located at 266 14th Street San Francisco, CA.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Unique live/work property suitable for residential living, creative production, or business use.; Dramatic 50‑by‑60‑foot main hall with 24‑foot ceilings and skylit pitched roof.**; Primary suite with spa‑like bath, 10 X 13 walk‑in closet, and direct access to a large private office.**
