Warehouse Office with Loading
For Sale
$1,490,000
338 N Canal Street # 20, South San Francisco, CA 94080
Renovated unit includes a front office, kitchenette, storage, and separate loading access.
Property Size1,968 SF
Days on Market61
Property Features for 338 N Canal Street # 20
General Information
Standard status
Active
Size
1,968 SF
Total Parking Spaces
3
Property subtype
Warehouse
Additional Details
Dock-High Doors
1
Amenities
kitchenette
two restrooms
Aquasana whole-house water filtration system
Building Details
Building Size
1,968 SF
Year Built
1986
Listing Agency:
Coldwell Banker Realty
(650) 455-8878
Listed By:
Victoria C Lam · License #01326466
Source:
Swanngroupsf
Added: Jul 1
Changed: Aug 29
Last Checked: Aug 29 at 10:34PM
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 Realty
Investment Insights
Based on property information with market context.
Built in 1986 and renovated for current operations, this warehouse unit combines work and office areas in a practical layout. Interior features include a kitchenette, two restrooms, and dedicated storage. An Aquasana whole-house water filtration system includes a salt-free water conditioner, whole-house filter, sediment pre-filter, and UV purifier.
The unit supports efficient movement between business functions with a dedicated loading dock door and a separate entrance serving the front office. A 14+ foot roll-up door accommodates warehouse access, while 3 designated parking spaces provide on-site parking for staff or visitors.
The unit supports efficient movement between business functions with a dedicated loading dock door and a separate entrance serving the front office. A 14+ foot roll-up door accommodates warehouse access, while 3 designated parking spaces provide on-site parking for staff or visitors.
Key Highlights
- 14+ foot roll‑up door for warehouse access
- Dedicated loading dock door plus separate front office entrance
- 3 designated parking spaces
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
$109,424
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
7.34%
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%
$2,188,480
$2.2M
Cap Rate 7%
$1,563,200
$1.6M
Cap Rate 9%
$1,215,822
$1.2M
Market Conditions
NOI Build-Up for 1,968 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
$135.1K $68.64/SF
− Vacancy
−$6.3K −$3.23/SF
EGI
$128.7K $65.41/SF
− OpEx
−$19.3K −$9.81/SF
NOI
$109.4K $55.60/SF
Area
San Mateo County, CA
Vacancy
4.70%
Lease Rate
$68.64 /SF/Yr
Expense Ratio
15.00%
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%
$2,188,480
Cap Rate 7%
$1,563,200
Cap Rate 9%
$1,215,822
Alternative Uses
Best Use
Warehouse
$1.56M
$1.37M – $1.82M
NOI $109,424 @ 7.0% cap · market cap 7.34%
Second Best
Industrial
$1.29M
$1.13M – $1.50M
NOI $90,114 @ 7.0% cap · market cap 6.05%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Dock-high doors
Location Intelligence
Trade Area within ½ mile
2,472
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94080, CA
66,592
Population
23,364
Households
2.9
Avg Household Size
40
Median Age
40%
College-Educated
86%
High-School Grad
10.2 sq mi
ZIP Area
6,529
Density / Sq Mi
$135,966
Median Household Income
$61,138
Median Earnings
$2,840
Median Rent
$1,159,500
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Warehouse - Renovated unit includes a front office, kitchenette, storage, and separate loading access.
Where is this warehouse located?
The property is located at 338 N Canal Street # 20 South San Francisco, CA.
What is the asking price?
The asking price for this property is $1,490,000.
What are key features of this property?
This property features: 14+ foot roll‑up door for warehouse access; Dedicated loading dock door plus separate front office entrance; 3 designated parking spaces
