Three-Unit Mixed-Use
For Sale
$1,250,000
5110 3rd Street, San Francisco, CA 94124
Ground-floor retail is delivered vacant, alongside two occupied residential units with below-market rents.
Property Size3,125 SF
Price / SF$400
Days on Market186
Property Features for 5110 3rd Street
General Information
Standard status
Active
Size
3,125 SF
Property subtype
Mixed Use
Additional Details
Multifamily Units
2
Building Details
Year Built
1905
Tenancy
Multi
Listing Agency:
Urban Group Real Estate
(415) 863-1775
Listed By:
Louis Cornejo · License #01518102
(415) 786-3662
Source:
Xome
Added: Feb 28
Changed: Sep 1
Last Checked: Sep 2 at 1:45PM
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 Urban Group Real Estate
Investment Insights
Based on property information with market context.
5110–5112 Third Street is a three-unit mixed-use property comprising two residential apartments and one ground-floor commercial space totaling 3,125 square feet. The ground-floor retail unit will be delivered vacant, creating an opportunity for immediate lease-up or owner-user use. The residential component includes one 2-bedroom/1-bath unit and one 3-bedroom/1-bath unit.
The building is positioned along San Francisco’s Third Street commercial corridor, providing pedestrian and vehicle exposure. Convenient access to the Muni Metro T Third Street line and nearby neighborhood amenities supports day-to-day accessibility for both residents and retail customers.
This property can appeal to buyers seeking a live-and-lease or income-mix structure, with the commercial space ready to market upon acquisition. The two residential units are currently occupied at below-market rents, which may be a consideration for planning future leasing and tenancy transitions. Overall, the combination of a vacant retail suite and two occupied apartments offers a straightforward structure for an owner who wants to manage residential income while activating the commercial frontage.
The building is positioned along San Francisco’s Third Street commercial corridor, providing pedestrian and vehicle exposure. Convenient access to the Muni Metro T Third Street line and nearby neighborhood amenities supports day-to-day accessibility for both residents and retail customers.
This property can appeal to buyers seeking a live-and-lease or income-mix structure, with the commercial space ready to market upon acquisition. The two residential units are currently occupied at below-market rents, which may be a consideration for planning future leasing and tenancy transitions. Overall, the combination of a vacant retail suite and two occupied apartments offers a straightforward structure for an owner who wants to manage residential income while activating the commercial frontage.
Key Highlights
- Three‑unit mixed‑use property (5110–5112 Third Street) with ground‑floor commercial plus two residential units
- Ground‑floor retail space delivered vacant for immediate lease‑up or owner‑user use
- Residential unit mix: one 2BD/1BA and one 3BD/1BA
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
$69,727
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
5.58%
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%
$1,394,540
$1.4M
Cap Rate 7%
$996,100
$996.1K
Cap Rate 9%
$774,744
$774.7K
Market Conditions
NOI Build-Up for 3,125 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
$131.3K $42.00/SF
− Vacancy
−$19.7K −$6.30/SF
EGI
$111.6K $35.70/SF
− OpEx
−$41.8K −$13.39/SF
NOI
$69.7K $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%
$1,394,540
Cap Rate 7%
$996,100
Cap Rate 9%
$774,744
Alternative Uses
Best Use
Retail
$14.25M
$12.47M – $16.62M
NOI $997,270 @ 7.0% cap · market cap 79.78%
Second Best
Mixed Use
$996.1K
$871.6K – $1.16M
NOI $69,727 @ 7.0% cap · market cap 5.58%
Theoretical Best
Specialty Retail
$15.26M
$13.36M – $17.81M
NOI $1,068,504 @ 7.0% cap · market cap 85.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,914
Businesses Nearby
57k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 67%
Dining 26%
Shops & Services 4%
Electronics 3%
Foods Co
Groceries
38,212 visits/mo
0.4 miles
McDonald's
Dining
14,759 visits/mo
0.2 miles
Extra Space Storage
Shops & Services
2,127 visits/mo
0.3 miles
Metro by T-Mobile
Electronics
1,665 visits/mo
0.2 miles
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
Market
Vacancy Rate% for Retail in San Francisco, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Ground-floor retail is delivered vacant, alongside two occupied residential units with below-market rents.
Where is this mixed-use property located?
The property is located at 5110 3rd Street San Francisco, CA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Three‑unit mixed‑use property (5110–5112 Third Street) with ground‑floor commercial plus two residential units; Ground‑floor retail space delivered vacant for immediate lease‑up or owner‑user use; Residential unit mix: one 2BD/1BA and one 3BD/1BA
