Victorian Office
New
For Sale
$1,499,999
271 Austin Street, San Francisco, CA 94109
Vacant three-level office property with private offices, meeting rooms, storage, and flexible NC-3 zoning.
Property Size2,721 SF
Price / SF$551.27
Days on Market6
Property Features for 271 Austin Street
General Information
Standard status
Active
Size
2,721 SF
Property subtype
Multi Family
Zoning
NC-3
Site & Location
Road Access
Yes
Public Transit
Yes
Additional Details
Office Units
1
Taxes and HOA fees
Annual Taxes
$280
Amenities
double-hung windows
decorative glass skylight
rear yard with decks
private patio
bathroom on every floor
generous storage
Building Details
Year Built
1909
Buildings
1
Stories
3
Building Size
2,721 SF
Construction
Victorian
Abandoned
No
Listing Agency:
KW Advisors
(408) 712-7692
Listed By:
Alina Siert · License #01893238
(408) 712-7692
Source:
Exitrealty
Added: Aug 25
Changed: Aug 29
Last Checked: Aug 30 at 2:07PM
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 KW Advisors
Investment Insights
Based on property information with market context.
Built in 1909, this three-story Victorian office property is being delivered vacant after approximately two decades of office use. The layout includes eight private offices, a reception area, two conference rooms, open work areas, substantial storage, and one bathroom on each level. A kitchen occupies the top floor and connects to a private patio. Double-hung windows, a decorative glass skylight, natural light, rear-yard decks, and period architectural character add distinction throughout the building.
The property is located on Austin Street, one block off Van Ness Avenue and near the cafes, restaurants, and shops of Polk Street. Transit options include Muni, BART, Golden Gate Transit, and the 49 Van Ness BRT. NC-3 zoning supports both residential and commercial use, subject to verification of permitted uses, conversion feasibility, and required approvals. The property is offered as-is.
The property is located on Austin Street, one block off Van Ness Avenue and near the cafes, restaurants, and shops of Polk Street. Transit options include Muni, BART, Golden Gate Transit, and the 49 Van Ness BRT. NC-3 zoning supports both residential and commercial use, subject to verification of permitted uses, conversion feasibility, and required approvals. The property is offered as-is.
Key Highlights
- 1909 Victorian office building delivered vacant
- Eight private offices, reception, two conference rooms, open work areas, and storage
- Top‑floor kitchen opens to a private patio; rear yard includes decks
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
$67,046
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
4.47%
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%
$1,340,920
$1.3M
Cap Rate 7%
$957,800
$957.8K
Cap Rate 9%
$744,956
$745.0K
Market Conditions
NOI Build-Up for 2,721 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
$119.8K $44.04/SF
− Vacancy
−$30.4K −$11.19/SF
EGI
$89.4K $32.85/SF
− OpEx
−$22.3K −$8.21/SF
NOI
$67.0K $24.64/SF
Area
ZIP 94109
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%
$1,340,920
Cap Rate 7%
$957,800
Cap Rate 9%
$744,956
Alternative Uses
Best Use
Office B
$957.8K
$838.1K – $1.12M
NOI $67,046 @ 7.0% cap · market cap 4.47%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$12.40M
$10.85M – $14.47M
NOI $868,343 @ 7.0% cap · market cap 57.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Office units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
11,623
Businesses Nearby
Explore this area
Business Placement
Demographics for 94109, CA
58,501
Population
39,043
Households
1.5
Avg Household Size
38
Median Age
65%
College-Educated
90%
High-School Grad
1.1 sq mi
ZIP Area
53,183
Density / Sq Mi
$112,201
Median Household Income
$89,841
Median Earnings
$2,172
Median Rent
$1,390,000
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?
Office building - Vacant three-level office property with private offices, meeting rooms, storage, and flexible NC-3 zoning.
Where is this office building located?
The property is located at 271 Austin Street San Francisco, CA.
What is the asking price?
The asking price for this property is $1,499,999.
What are key features of this property?
This property features: 1909 Victorian office building delivered vacant; Eight private offices, reception, two conference rooms, open work areas, and storage; Top‑floor kitchen opens to a private patio; rear yard includes decks
