Mixed-Use Asset in San
For Sale
$7,000,000
515 Ofarrell ST, San Francisco, CA 94102
46-unit mixed-use asset in the heart of San Francisco.
Property Size25,896 SF
Price / SF$270.31
Days on Market159
Property Features for 515 Ofarrell ST
General Information
Standard status
Active
Size
25,896 SF
Property subtype
Commercial
Zoning
RC4
Building Details
Year Built
1926
Units
46
Listing Agency:
The Agency
(831) 417-1000
Listed By:
Aida Molina-Polle
Source:
Steinbeckre
Added: Mar 26
Changed: Aug 23
Last Checked: Aug 30 at 5:30PM
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 The Agency
Investment Insights
Based on property information with market context.
Located at 515 O'Farrell Street in San Francisco, The Beverly is a 46-unit mixed-use asset featuring 45 studio apartments and one ground-floor commercial unit. The property, totaling 25896 square feet, is situated in a central location within walking distance to Union Square, national name-brand hotels, BART, and cable cars, with immediate access to multiple MUNI bus lines. The residential component consists of 45 studio units with efficient layouts and strong rental demand. The ground floor includes a large laundromat servicing both residential and commercial clientele. Additional features include a roof deck with panoramic views and 7 parking spaces. Capital improvements include elastomeric roof coating, furnace improvements, and ongoing upgrades to the sprinkler system. This concrete building is not subject to San Francisco's soft-story retrofit program. Fannie Mae and Freddie Mac approve.
Key Highlights
- 46‑unit mixed‑use asset in the heart of San Francisco.
- Prime location within walking distance to Union Square, BART, and cable cars.
- 45 studio apartments with efficient layouts and strong rental demand.
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
$577,805
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
8.25%
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%
$11,556,100
$11.6M
Cap Rate 7%
$8,254,357
$8.3M
Cap Rate 9%
$6,420,056
$6.4M
Market Conditions
NOI Build-Up for 25,896 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
$1.09M $42.00/SF
− Vacancy
−$163.1K −$6.30/SF
EGI
$924.5K $35.70/SF
− OpEx
−$346.7K −$13.39/SF
NOI
$577.8K $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%
$11,556,100
Cap Rate 7%
$8,254,357
Cap Rate 9%
$6,420,056
Alternative Uses
Best Use
Apartment 5plus
$12.01M
$10.51M – $14.01M
NOI $840,767 @ 7.0% cap · market cap 12.01%
Second Best
Mixed Use
$8.25M
$7.22M – $9.63M
NOI $577,805 @ 7.0% cap · market cap 8.25%
Theoretical Best
Specialty Retail
$126.49M
$110.68M – $147.57M
NOI $8,854,393 @ 7.0% cap · market cap 126.49%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
20,154
Businesses Nearby
Explore this area
Business Placement
Demographics for 94102, CA
39,432
Population
23,153
Households
1.7
Avg Household Size
40
Median Age
42%
College-Educated
81%
High-School Grad
0.7 sq mi
ZIP Area
56,331
Density / Sq Mi
$64,781
Median Household Income
$55,873
Median Earnings
$1,517
Median Rent
$996,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - 46-unit mixed-use asset in the heart of San Francisco.
Where is this mixed-use property located?
The property is located at 515 Ofarrell ST San Francisco, CA.
What is the asking price?
The asking price for this property is $7,000,000.
What are key features of this property?
This property features: 46‑unit mixed‑use asset in the heart of San Francisco.; Prime location within walking distance to Union Square, BART, and cable cars.; 45 studio apartments with efficient layouts and strong rental demand.
