Mixed-Use Building in Prime
For Sale
$5,200,000
450 Grant Avenue, San Francisco, CA 94108
Mixed-use building with retail, office, and residential units.
Property Size13,950 SF
Lot Size0.11 Acres
Price / SF$372.76
Days on Market265
Property Features for 450 Grant Avenue
General Information
Standard status
Active
Size
13,950 SF
Lot size
0.11 Acres
Property subtype
Mixed Use
Building Details
Building Size
13,950 SF
Year Built
1921
Listing Agency:
Marcus & Millichap
Listed By:
Ning H Ho · License #(S):CA:01943903
(415) 963-3000
Source:
Paytonslist
Added: Dec 13, 2025
Changed: Sep 4
Last Checked: Sep 4 at 12:57PM
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
Investment Insights
Based on property information with market context.
The property at 450-480 Grant Avenue, also known as 567 Pine Street, is a well-maintained three-story mixed-use corner building situated in a vibrant San Francisco location. Located at the gateway to Chinatown and near the Financial District, the property benefits from high visibility, prominent frontage, and consistent pedestrian traffic. It is directly across from Saint Mary's Square and within walking distance of Union Square, shopping, restaurants, hotels, and major transit lines. The building provides approximately 13,950 square feet of space on a 4,647 square-foot lot. The layout includes three ground floor retail units, three office suites on the middle level, and five renovated apartments on the top floor. A large garage with three parking spaces is also included. Currently, one retail space and one office suite are vacant. The property is zoned Chinatown Community Business (CCB) with the Assessor's Parcel Number (APN) 0270-016. This property offers an opportunity for businesses seeking a high-impact presence in a dynamic corridor.
Key Highlights
- Prime corner location at the gateway to Chinatown and steps from the Financial District.
- Mixed‑use building with three ground floor retail units, three office suites, and five renovated apartments.
- High visibility and continuous pedestrian traffic in a dynamic, high‑demand corridor.
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
$311,259
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
5.99%
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%
$6,225,180
$6.2M
Cap Rate 7%
$4,446,557
$4.4M
Cap Rate 9%
$3,458,433
$3.5M
Market Conditions
NOI Build-Up for 13,950 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
$585.9K $42.00/SF
− Vacancy
−$87.9K −$6.30/SF
EGI
$498.0K $35.70/SF
− OpEx
−$186.8K −$13.39/SF
NOI
$311.3K $22.31/SF
Area
San Francisco, CA
Vacancy
15.00%
Lease Rate
$42.00 /SF/Yr
Expense Ratio
37.50%
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%
$6,225,180
Cap Rate 7%
$4,446,557
Cap Rate 9%
$3,458,433
Alternative Uses
Best Use
Mixed Use
$4.45M
$3.89M – $5.19M
NOI $311,259 @ 7.0% cap · market cap 5.99%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$68.14M
$59.62M – $79.50M
NOI $4,769,801 @ 7.0% cap · market cap 91.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
32,078
Businesses Nearby
Explore this area
Business Placement
Demographics for 94108, CA
13,097
Population
7,730
Households
1.7
Avg Household Size
42
Median Age
45%
College-Educated
76%
High-School Grad
0.3 sq mi
ZIP Area
43,657
Density / Sq Mi
$63,864
Median Household Income
$53,617
Median Earnings
$1,562
Median Rent
$1,207,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use building with retail, office, and residential units.
Where is this mixed-use property located?
The property is located at 450 Grant Avenue San Francisco, CA.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: Prime corner location at the gateway to Chinatown and steps from the Financial District.; Mixed‑use building with three ground floor retail units, three office suites, and five renovated apartments.; High visibility and continuous pedestrian traffic in a dynamic, high‑demand corridor.
