Mixed-Use Building with Garage
For Sale
$2,600,000
2937 Mission Street, San Francisco, CA 94110
Remodeled apartments accompany a leased ground-floor commercial space with separately metered utilities.
Property Size5,370 SF
Price / SF$484.17
Days on Market12
Property Features for 2937 Mission Street
General Information
Standard status
Active
Size
5,370 SF
Property subtype
Mixed Use
Site & Location
Road Access
Yes
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 1BR
Multifamily Units
4
Building Details
Building Size
5,370 SF
Year Built
1904
Buildings
1
Listing Agency:
Compass Commercial
(415) 516-9843
Listed By:
Adam D Filly · License #01354775
Source:
Gregglynn
Added: Aug 18
Changed: Aug 25
Last Checked: Aug 28 at 6:59PM
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 Compass Commercial
Investment Insights
Based on property information with market context.
This 5,370-square-foot mixed-use building, constructed in 1904, combines four one-bedroom apartments with a ground-floor commercial premises. Each apartment has been remodeled with hardwood flooring, updated kitchens featuring marble countertops and stainless steel appliances, and refreshed bathrooms, while original building character remains. The commercial space is leased to Evil Eye Cocktail Lounge, and rear garage parking is accessed from Lilac Street and leased by the commercial tenant.
The property occupies a stretch of Mission Street near BART, restaurants, retail, and nightlife. Building systems include 400-amp electrical service, with gas and electricity separately metered for all units. The configuration provides residential and commercial components within one income-producing asset.
The property occupies a stretch of Mission Street near BART, restaurants, retail, and nightlife. Building systems include 400-amp electrical service, with gas and electricity separately metered for all units. The configuration provides residential and commercial components within one income-producing asset.
Key Highlights
- Four one‑bedroom apartments plus one ground‑floor commercial space
- 5,370‑square‑foot mixed‑use building constructed in 1904
- Residential units remodeled with hardwood floors, updated kitchens, and refreshed bathrooms
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
$166,046
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
6.39%
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%
$3,320,920
$3.3M
Cap Rate 7%
$2,372,086
$2.4M
Cap Rate 9%
$1,844,956
$1.8M
Market Conditions
NOI Build-Up for 5,370 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
$322.2K $60.00/SF
− Vacancy
−$20.3K −$3.78/SF
EGI
$301.9K $56.22/SF
− OpEx
−$135.9K −$25.30/SF
NOI
$166.0K $30.92/SF
Area
ZIP 94110
Vacancy
6.30%
Lease Rate
$60.00 /SF/Yr
Expense Ratio
45.00%
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%
$3,320,920
Cap Rate 7%
$2,372,086
Cap Rate 9%
$1,844,956
Alternative Uses
Best Use
Specialty Retail
$26.23M
$22.95M – $30.60M
NOI $1,836,117 @ 7.0% cap · market cap 70.62%
Second Best
Apartment 5plus
$2.37M
$2.08M – $2.77M
NOI $166,046 @ 7.0% cap · market cap 6.39%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
5,164
Businesses Nearby
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Remodeled apartments accompany a leased ground-floor commercial space with separately metered utilities.
Where is this mixed-use property located?
The property is located at 2937 Mission Street San Francisco, CA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Four one‑bedroom apartments plus one ground‑floor commercial space; 5,370‑square‑foot mixed‑use building constructed in 1904; Residential units remodeled with hardwood floors, updated kitchens, and refreshed bathrooms
