Flex Space with Office
For Sale
$1,350,000
3450 3rd Street #3D, San Francisco, CA 94124
Vacant flex unit combining warehouse functionality with second-floor offices and zoning for industrial, office, and select retail uses.
Property Size3,150 SF
Price / SF$428.57
Days on Market176
Property Features for 3450 3rd Street #3D
General Information
Standard status
Active
Size
3,150 SF
Property subtype
Commercial
Zoning
PDR-2
Warehouse & Industrial
Clear Height
12 ft
Warehouse Space
3,150 SF
Drive-In Doors
1
Amenities
Central air
Ceiling Fan Cooling
Concrete Roof
Gas Heating
Leased Parking
Building Details
Year Built
1987
Listing Agency:
MARCUS & MILLICHAP
(650) 391-1700
Listed By:
PHILIP BATLIN · License #CA01873218
(415) 625-2189
Source:
Corcoran
Added: Apr 23
Changed: Oct 11
Last Checked: Oct 14 at 11:24PM
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
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Investment Insights
Based on property information with market context.
This vacant flex-space condominium combines a 3,150 SF warehouse with a second-floor office loft. The warehouse includes a grade-level roll-up door and 12 clear height, while the loft provides two private offices, open work area, and a kitchenette. Built in 1987, the unit offers a practical blend of production, storage, and administrative space within one property.
The property is located at 3450 3rd Street #3D in San Francisco and is zoned PDR-2. Permitted uses include industrial, office, and select retail activities. The unit will be delivered vacant, supporting immediate occupancy or interior customization for an owner-user or multi-tenant configuration.
The property is located at 3450 3rd Street #3D in San Francisco and is zoned PDR-2. Permitted uses include industrial, office, and select retail activities. The unit will be delivered vacant, supporting immediate occupancy or interior customization for an owner-user or multi-tenant configuration.
Key Highlights
- 3,150 SF flex‑space condominium with warehouse and office components
- Open warehouse area with grade‑level roll‑up door and 12 clear height
- Second‑floor loft includes two private offices, open workspace, and kitchenette
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$77,617
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,552,340
$1.6M
Cap Rate 7%
$1,108,814
$1.1M
Cap Rate 9%
$862,411
$862.4K
Market Conditions
NOI Build-Up for 3,150 SF
Gross rent
$138.7K $44.04/SF
− Vacancy
−$35.2K −$11.19/SF
EGI
$103.5K $32.85/SF
− OpEx
−$25.9K −$8.21/SF
NOI
$77.6K $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 Rate 5%
$1,552,340
Cap Rate 7%
$1,108,814
Cap Rate 9%
$862,411
Alternative Uses
Best Use
Office B
$1.11M
$970.2K – $1.29M
NOI $77,617 @ 7.0% cap · market cap 5.75%
Second Best
Warehouse
$929.5K
$813.3K – $1.08M
NOI $65,063 @ 7.0% cap · market cap 4.82%
Theoretical Best
Specialty Retail
$15.39M
$13.46M – $17.95M
NOI $1,077,052 @ 7.0% cap · market cap 79.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
12 ft
Clear height
1
Drive-in doors
Location Intelligence
Trade Area within ½ mile
1,644
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94124, CA
39,445
Population
11,780
Households
3.3
Avg Household Size
37
Median Age
27%
College-Educated
75%
High-School Grad
4.8 sq mi
ZIP Area
8,218
Density / Sq Mi
$82,928
Median Household Income
$42,683
Median Earnings
$1,368
Median Rent
$1,043,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in San Francisco, CA
Similar Off Market Nearby
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- ChiliCali Indonesian Food — 4100 3rd St, San Francisco, CA 94124
- Cook Express — 1925 jerrold ave, san francisco, ca 94124
Frequently Asked Questions
What type of property is this?
Flex space - Vacant flex unit combining warehouse functionality with second-floor offices and zoning for industrial, office, and select retail uses.
Where is this flex space located?
The property is located at 3450 3rd Street #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: 3,150 SF flex‑space condominium with warehouse and office components; Open warehouse area with grade‑level roll‑up door and 12 clear height; Second‑floor loft includes two private offices, open workspace, and kitchenette
