Three-Unit Mixed-Use
For Sale
$2,000,000
5527 Geary Boulevard, San Francisco, CA 94121
Vacant street-level commercial space is paired with two updated residences and prominent Geary Boulevard frontage.
Property Size4,221 SF
Price / SF$473.82
Days on Market8
Property Features for 5527 Geary Boulevard
General Information
Standard status
Active
Size
4,221 SF
Property subtype
Mixed Use
Zoning
NC-3
Units
Unit Mix
1 x 1BR/1BA, 1 x 1BR+office/1BA
Multifamily Units
2
Additional Details
Road Access
Yes
Amenities
3
Concrete, Wood
Building Details
Year Built
1922
Buildings
1
Tenancy
Multi
Listing Agency:
Coldwell Banker Realty
(415) 474-1750
Listed By:
Nick Johnson · License #01419663
(415) 264-4789
Source:
Xome
Added: Aug 27
Changed: Sep 2
Last Checked: Sep 2 at 2:12PM
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 Coldwell Banker Realty
Investment Insights
Based on property information with market context.
Built in 1922, this three-unit mixed-use property contains approximately 4,221 square feet of building area. The ground floor provides a 2,654-square-foot vacant commercial space with an open layout, approximately 29 feet of interior width, skylights, and ceiling heights reaching approximately 11'10 in portions of the premises. Two residential units occupy the levels above and were updated in 2007. One is an approximately 855-square-foot one-bedroom, one-bath residence; the other is an approximately 712-square-foot one-bedroom plus office, one-bath residence with a private deck.
The property fronts Geary Boulevard in San Francisco’s Richmond District, a principal commercial and transportation corridor with exposure to motorists, pedestrians, and transit riders. NC-3 zoning supports neighborhood-serving commercial uses along with residential occupancy above. Restaurants, markets, neighborhood services, and established Richmond District businesses surround the property.
The property fronts Geary Boulevard in San Francisco’s Richmond District, a principal commercial and transportation corridor with exposure to motorists, pedestrians, and transit riders. NC-3 zoning supports neighborhood-serving commercial uses along with residential occupancy above. Restaurants, markets, neighborhood services, and established Richmond District businesses surround the property.
Key Highlights
- Three‑unit building with approximately 4,221 square feet of total area
- Vacant 2,654‑square‑foot ground‑floor commercial space
- Approximately 29 feet of interior width and ceiling heights reaching approximately 11'10 in portions
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
$137,043
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
6.85%
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%
$2,740,860
$2.7M
Cap Rate 7%
$1,957,757
$2.0M
Cap Rate 9%
$1,522,700
$1.5M
Market Conditions
NOI Build-Up for 4,221 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
$265.9K $63.00/SF
− Vacancy
−$16.8K −$3.97/SF
EGI
$249.2K $59.03/SF
− OpEx
−$112.1K −$26.56/SF
NOI
$137.0K $32.47/SF
Area
San Francisco, CA
Vacancy
6.30%
Lease Rate
$63.00 /SF/Yr
Expense Ratio
45.00%
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%
$2,740,860
Cap Rate 7%
$1,957,757
Cap Rate 9%
$1,522,700
Alternative Uses
Best Use
Retail
$19.24M
$16.84M – $22.45M
NOI $1,347,033 @ 7.0% cap · market cap 67.35%
Second Best
Apartment 5plus
$1.96M
$1.71M – $2.28M
NOI $137,043 @ 7.0% cap · market cap 6.85%
Theoretical Best
Specialty Retail
$20.62M
$18.04M – $24.05M
NOI $1,443,250 @ 7.0% cap · market cap 72.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,995
Businesses Nearby
Explore this area
Business Placement
Demographics for 94121, CA
43,115
Population
19,742
Households
2.2
Avg Household Size
42
Median Age
64%
College-Educated
92%
High-School Grad
2.5 sq mi
ZIP Area
17,246
Density / Sq Mi
$138,353
Median Household Income
$74,646
Median Earnings
$2,327
Median Rent
$1,634,600
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 - Vacant street-level commercial space is paired with two updated residences and prominent Geary Boulevard frontage.
Where is this mixed-use property located?
The property is located at 5527 Geary Boulevard San Francisco, CA.
What is the asking price?
The asking price for this property is $2,000,000.
What are key features of this property?
This property features: Three‑unit building with approximately 4,221 square feet of total area; Vacant 2,654‑square‑foot ground‑floor commercial space; Approximately 29 feet of interior width and ceiling heights reaching approximately 11'10 in portions
