Castro District Mixed-Use
For Sale
$1,595,000
327 Noe Street, San Francisco, CA 94114
Two buildings in the Castro District with commercial and residential spaces.
Property Size3,000 SF
Lot Size0.06 Acres
Price / SF$531.67
Days on Market169
Property Features for 327 Noe Street
General Information
Standard status
Active
Size
3,000 SF
Lot size
0.06 Acres
Property subtype
Mixed Use
Building Details
Building Size
3,000 SF
Year Built
1900
Listing Agency:
Jeremy Falk Blatteis, Broker
Listed By:
Jeremy Blatteis · License #01421282
Source:
Bonniespindler
Added: Mar 16
Changed: Aug 25
Last Checked: Aug 30 at 10:27PM
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 Jeremy Falk Blatteis, Broker
Investment Insights
Based on property information with market context.
This investment opportunity is located in the Castro District of San Francisco. Constructed in 1900, the property includes two buildings totaling 3,000 square feet on a 2,500 square foot lot. The property features an exterior facade and a courtyard. The building has a ground floor commercial space spread out over two structures. The property also includes a vacant second-floor residential unit with two bedrooms, one bathroom, and a bonus room that has been used as a third bedroom. The commercial space has 600 amp, 3-phase power. Located one block from Market Street, the property benefits from foot traffic and proximity to public transportation, shopping, dining, and entertainment. Short-term leases make this an attractive owner-user opportunity. The property offers income potential and a location in a culturally rich and historic neighborhood.
Key Highlights
- Prime location in the heart of San Francisco's iconic Castro District, benefiting from heavy foot traffic and access to amenities.
- Excellent income potential as a turnkey investment property.
- Ground floor commercial space spread over two structures, plus a vacant 2‑bedroom (plus bonus room) residential unit.
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
$66,938
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
4.20%
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%
$1,338,760
$1.3M
Cap Rate 7%
$956,257
$956.3K
Cap Rate 9%
$743,756
$743.8K
Market Conditions
NOI Build-Up for 3,000 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
$126.0K $42.00/SF
− Vacancy
−$18.9K −$6.30/SF
EGI
$107.1K $35.70/SF
− OpEx
−$40.2K −$13.39/SF
NOI
$66.9K $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%
$1,338,760
Cap Rate 7%
$956,257
Cap Rate 9%
$743,756
Alternative Uses
Best Use
Mixed Use
$956.3K
$836.7K – $1.12M
NOI $66,938 @ 7.0% cap · market cap 4.20%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$14.65M
$12.82M – $17.10M
NOI $1,025,764 @ 7.0% cap · market cap 64.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,592
Businesses Nearby
Explore this area
Business Placement
Demographics for 94114, CA
33,683
Population
18,686
Households
1.8
Avg Household Size
40
Median Age
79%
College-Educated
98%
High-School Grad
1.4 sq mi
ZIP Area
24,059
Density / Sq Mi
$196,528
Median Household Income
$117,677
Median Earnings
$2,898
Median Rent
$1,771,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two buildings in the Castro District with commercial and residential spaces.
Where is this mixed-use property located?
The property is located at 327 Noe Street San Francisco, CA.
What is the asking price?
The asking price for this property is $1,595,000.
What are key features of this property?
This property features: Prime location in the heart of San Francisco's iconic Castro District, benefiting from heavy foot traffic and access to amenities.; Excellent income potential as a turnkey investment property.; Ground floor commercial space spread over two structures, plus a vacant 2‑bedroom (plus bonus room) residential unit.
