Multi-Tenant Medical Office
For Sale
$7,988,000
345 West Portal Avenue San, San Francisco, CA 94127
Well-maintained office property with elevator access, rear parking, and a mix of medical and professional office occupants.
Property Size10,180 SF
Days on Market193
Property Features for 345 West Portal Avenue San
General Information
Standard status
Active
Size
10,180 SF
Class
B
Property subtype
Medical/Healthcare
Building Details
Building Size
10,180 SF
Year Built
1966
Properties For Sale
at 345 West Portal Avenue San Contact us- Size
- 2,275 SF
- Lease Type
- NNN
345 West Portal Avenue, 4th Floor
- Size
- 578 SF
345 West Portal Avenue, Suite 320
Listing Agency:
SVN | Capital West Partners
(415) 464-6401
Listed By:
Catherine E. House, CCIM, FRICS · License #01327824
(415) 464-6401
Source:
Thebrokerlist
Added: Feb 18
Changed: Aug 30
Last Checked: Aug 30 at 2:09AM
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 SVN | Capital West Partners
Investment Insights
Based on property information with market context.
Built in 1966, this multi-tenant office building accommodates medical and professional office users, including four dental practices, one medical practice, and three professional office businesses. The property is 77.65% occupied and includes two vacant suites. The top floor benefits from windows on both sides of the space and elevator service, while on-site parking is positioned at the rear of the building.
Located at 345 West Portal Avenue in San Francisco, the property is situated along West Portal Avenue, a principal shopping corridor serving southwestern San Francisco. Nearby Muni stops provide local transportation connections, with links toward San Francisco and the Peninsula. The in-place cap rate is 4.67%, with the stated rate reaching 7.76% if both vacant suites are leased.
Located at 345 West Portal Avenue in San Francisco, the property is situated along West Portal Avenue, a principal shopping corridor serving southwestern San Francisco. Nearby Muni stops provide local transportation connections, with links toward San Francisco and the Peninsula. The in-place cap rate is 4.67%, with the stated rate reaching 7.76% if both vacant suites are leased.
Key Highlights
- 77.65% occupied multi‑tenant office building
- Medical and professional mix includes 4 dentists, 1 medical doctor, and 3 professional office businesses
- Two vacant suites; in‑place cap rate of 4.67% and stated 7.76% rate when leased
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
$250,839
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
3.14%
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%
$5,016,780
$5.0M
Cap Rate 7%
$3,583,414
$3.6M
Cap Rate 9%
$2,787,100
$2.8M
Market Conditions
NOI Build-Up for 10,180 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
$448.3K $44.04/SF
− Vacancy
−$113.9K −$11.19/SF
EGI
$334.5K $32.85/SF
− OpEx
−$83.6K −$8.21/SF
NOI
$250.8K $24.64/SF
Area
San Francisco, CA
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%
$5,016,780
Cap Rate 7%
$3,583,414
Cap Rate 9%
$2,787,100
Alternative Uses
Best Use
Office B
$3.58M
$3.14M – $4.18M
NOI $250,839 @ 7.0% cap · market cap 3.14%
Second Best
Healthcare Medical
$2.76M
$2.42M – $3.23M
NOI $193,501 @ 7.0% cap · market cap 2.42%
Theoretical Best
Specialty Retail
$49.73M
$43.51M – $58.01M
NOI $3,480,758 @ 7.0% cap · market cap 43.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,165
Businesses Nearby
Explore this area
Business Placement
Demographics for 94127, CA
20,686
Population
7,895
Households
2.6
Avg Household Size
47
Median Age
67%
College-Educated
94%
High-School Grad
1.9 sq mi
ZIP Area
10,887
Density / Sq Mi
$205,429
Median Household Income
$101,511
Median Earnings
$3,501
Median Rent
$1,897,700
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 - Well-maintained office property with elevator access, rear parking, and a mix of medical and professional office occupants.
Where is this office building located?
The property is located at 345 West Portal Avenue San San Francisco, CA.
What is the asking price?
The asking price for this property is $7,988,000.
What are key features of this property?
This property features: 77.65% occupied multi‑tenant office building; Medical and professional mix includes 4 dentists, 1 medical doctor, and 3 professional office businesses; Two vacant suites; in‑place cap rate of 4.67% and stated 7.76% rate when leased
