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    3450 3rd St 3D San Francisco, CA 94124

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    For Sale
    $1,350,000

    Industrial condo with warehouse and office space in San Francisco.

    Type:Commercial
    Property size:
    3,150 SF
    Added:
    Apr 24, 2026
    Days on Market:
    6
    Last Refresh:
    Apr 24 at 5:56 pm

    Property Features for 3450 3rd St 3D

    General Information

    Standard status
    Active
    Size
    3,150 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1987

    We can help!

    Listing Contact
    Philip Batlin
    Philip Batlin

    Listing agent Philip Batlin

    Listing office MARCUS & MILLICHAP

    Listing date Apr 24, 2026

    Source Elliman

    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 MARCUS & MILLICHAP

    Overview

    Versatile Industrial Condo with Office

    This industrial condominium offers a functional space in San Francisco, suitable for businesses or investors. The property includes approximately 3,150 square feet of open warehouse space featuring a grade-level roll-up door and a 12-foot clear height. A modern second-floor office loft complements the warehouse space, equipped with two private offices, an open workspace, and a kitchenette. The layout supports owner-user or multi-tenant configurations. Zoned PDR-2, the property allows for industrial, office, and select retail uses. The unit will be delivered vacant, offering immediate occupancy or customization. The location is a Biker's Paradise with a bike score of 100, a Walker's Paradise with a walk score of 99, and has excellent transit with a transit score of 83.
    Location Intelligence

    Current Use by Public Records

    Reliant | Rebuild • Repair ... Auto Repair Shop Bayview Child Health ... Pediatrician Homeless Children's Network Social Service Agency Dane Burgess Strength ... Gym & Fitness Center WRENCH ARMY Gym & Fitness Center

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • ChiliCali Indonesian Food — 4100 3rd St, San Francisco, CA 94124
    • SF FOOD MARKET — 4614 3rd St, San Francisco, CA 94124
    • Christopher's Fine Catering — 1643 Jerrold Ave, San Francisco, CA 94124
    • Cook Express — 1925 jerrold ave, san francisco, ca 94124
    • Bernal BBQ — 1534 Newcomb Ave, San Francisco, CA 94124

    Location Insight

    • Map
    • Local Demand
    City
    San Francisco
    County
    San Mateo
    State
    California
    Longitude
    -122.387798
    Latitude
    37.745729

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    FAQs

    What type of property is this?
    Flex space - Industrial condo with warehouse and office space in San Francisco.
    Where is this flex space located?
    The property is located at 3450 3rd St 3D San Francisco, CA.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: Prime San Francisco location with excellent walk, bike, and transit scores (Walk Score 99, Bike Score 100, Transit Score 83).; Flexible PDR‑2 zoning allows for industrial, office, and select retail uses.; Approximately 3,150 SF of open warehouse space with a grade‑level roll‑up door and 12' clear height.
    (415) 625-2189
    We can help!
    Listing Contact
    Philip Batlin
    Philip Batlin
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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