Mixed-Use Property in Laurel
For Sale
$1,650,000
Pending
2843 Geary, San Francisco, CA 94118
Two-unit mixed-use property in San Francisco's Laurel Heights neighborhood.
Property Size2,400 SF
Days on Market153
Property Features for 2843 Geary
General Information
Standard status
Pending
Size
2,400 SF
Property subtype
Commercial
Building Details
Building Size
2,400 SF
Year Built
1902
Units
2
Listing Agency:
Coldwell Banker Coastal Alliance
Listed By:
Tim Setiawan · License #01981909
(510) 775-1079
Source:
Elliman
Added: Apr 24
Changed: Sep 21
Last Checked: Sep 22 at 4:17PM
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 Coldwell Banker Coastal Alliance
Investment Insights
Based on property information with market context.
This two-unit mixed-use income-generating commercial property is located in the Laurel Heights neighborhood of San Francisco. The two-story property features an updated retail unit on the ground floor and a second-floor residential apartment with three bedrooms, one bath, a large balcony, and a kitchen. The retail property has a long-term lease, and the residential apartment has long-term tenants of six years. The backyard includes a large lot with one storage shed and can accommodate flexible uses. The property is centrally located near Golden Gate Park, the Presidio, and the Pacific Heights neighborhood. The bike score is 93, indicating a biker's paradise. The walk score is 95, indicating a walker's paradise. The transit score is 73, indicating excellent transit.
Key Highlights
- Income‑generating mixed‑use property with updated retail unit and residential apartment.
- Fully occupied with long‑term tenants (6 years for residential).
- Prime location near Golden Gate Park, the Presidio, and Pacific Heights.
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
$53,550
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
3.25%
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%
$1,071,000
$1.1M
Cap Rate 7%
$765,000
$765.0K
Cap Rate 9%
$595,000
$595.0K
Market Conditions
NOI Build-Up for 2,400 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
$100.8K $42.00/SF
− Vacancy
−$15.1K −$6.30/SF
EGI
$85.7K $35.70/SF
− OpEx
−$32.1K −$13.39/SF
NOI
$53.6K $22.31/SF
Area
San Francisco, CA
Vacancy
15.00%
Lease Rate
$42.00 /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%
$1,071,000
Cap Rate 7%
$765,000
Cap Rate 9%
$595,000
Alternative Uses
Best Use
Mixed Use
$765.0K
$669.4K – $892.5K
NOI $53,550 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$11.72M
$10.26M – $13.68M
NOI $820,611 @ 7.0% cap · market cap 49.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
12,382
Businesses Nearby
Explore this area
Business Placement
Demographics for 94118, CA
42,356
Population
19,052
Households
2.2
Avg Household Size
37
Median Age
72%
College-Educated
94%
High-School Grad
2.0 sq mi
ZIP Area
21,178
Density / Sq Mi
$159,550
Median Household Income
$92,946
Median Earnings
$2,695
Median Rent
$1,817,200
Median Home Value
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two-unit mixed-use property in San Francisco's Laurel Heights neighborhood.
Where is this mixed-use property located?
The property is located at 2843 Geary San Francisco, CA.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: Income‑generating mixed‑use property with updated retail unit and residential apartment.; Fully occupied with long‑term tenants (6 years for residential).; Prime location near Golden Gate Park, the Presidio, and Pacific Heights.
