Live-Work Space with Sawtooth
For Sale
$9,950,000
387 Tehama Street, San Francisco, CA 94103
Integrated residential and office configuration with conference rooms, kitchens, private workstations, and secure dedicated parking.
Property Size11,800 SF
Price / SF$843.22
Days on Market8
Property Features for 387 Tehama Street
General Information
Standard status
Active
Size
11,800 SF
Total Parking Spaces
6
Elevators
Yes
Property subtype
Office
Zoning
C-3-S
Site & Location
Highway Access
Yes
Public Transit
Yes
Additional Details
Furnished
Yes
Amenities
conference rooms
meeting rooms
wet bar
kitchens
IT room
3
Building Details
Year Built
1996
Listing Agency:
Maven Commercial, Inc.
(415) 404-7314
Listed By:
Dominic Morbidelli · License #02024348
(415) 404-7314
Source:
Xome
Added: Aug 7
Changed: Aug 13
Last Checked: Aug 13 at 5:43AM
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 Maven Commercial, Inc.
Investment Insights
Based on property information with market context.
This 11,800-square-foot live-work property combines 7 condominium units into a unified environment with both residential and office functionality. The interior includes sawtooth ceilings, extensive window line, custom furnishings, 3 conference rooms, 4 meeting rooms or bedrooms, 2 full baths, 4 half baths, an elevator, 36 workstations, a wet bar, 2 kitchens, and a dedicated IT room. A secure garage provides 6 exclusive parking spaces.
Located at 387 Tehama Street in San Francisco, the property is near Downtown, Union Square, BART, and MUNI. Direct freeway access is available through 5th Street. The property is zoned C-3-S with live/work use, subject to independent buyer confirmation.
Located at 387 Tehama Street in San Francisco, the property is near Downtown, Union Square, BART, and MUNI. Direct freeway access is available through 5th Street. The property is zoned C-3-S with live/work use, subject to independent buyer confirmation.
Key Highlights
- 7 condominium units combined into one live‑work property
- 11,800‑square‑foot interior with sawtooth ceilings and extensive window line
- 3 conference rooms, 4 meeting rooms or bedrooms, and 36 workstations
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
$290,756
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
2.92%
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%
$5,815,120
$5.8M
Cap Rate 7%
$4,153,657
$4.2M
Cap Rate 9%
$3,230,622
$3.2M
Market Conditions
NOI Build-Up for 11,800 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
$519.7K $44.04/SF
− Vacancy
−$132.0K −$11.19/SF
EGI
$387.7K $32.85/SF
− OpEx
−$96.9K −$8.21/SF
NOI
$290.8K $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%
$5,815,120
Cap Rate 7%
$4,153,657
Cap Rate 9%
$3,230,622
Alternative Uses
Best Use
Office B
$4.15M
$3.63M – $4.85M
NOI $290,756 @ 7.0% cap · market cap 2.92%
Second Best
Mixed Use
$3.76M
$3.29M – $4.39M
NOI $263,288 @ 7.0% cap · market cap 2.65%
Theoretical Best
Specialty Retail
$57.64M
$50.43M – $67.24M
NOI $4,034,671 @ 7.0% cap · market cap 40.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
13,414
Businesses Nearby
Explore this area
Business Placement
Demographics for 94103, CA
37,843
Population
20,920
Households
1.8
Avg Household Size
37
Median Age
56%
College-Educated
88%
High-School Grad
1.4 sq mi
ZIP Area
27,031
Density / Sq Mi
$122,339
Median Household Income
$83,348
Median Earnings
$2,146
Median Rent
$1,057,600
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?
Live-work space - Integrated residential and office configuration with conference rooms, kitchens, private workstations, and secure dedicated parking.
Where is this live-work space located?
The property is located at 387 Tehama Street San Francisco, CA.
What is the asking price?
The asking price for this property is $9,950,000.
What are key features of this property?
This property features: 7 condominium units combined into one live‑work property; 11,800‑square‑foot interior with sawtooth ceilings and extensive window line; 3 conference rooms, 4 meeting rooms or bedrooms, and 36 workstations
