Ground Floor Commercial
For Sale
$845,000
566 S Van Ness Avenue Unit COMM1, San Francisco, CA 94110
Ground floor commercial condo in a modern 2007 building, offered as a vacant space approved for a range of uses.
Property Size3,874 SF
Price / SF$218.12
Days on Market169
Property Features for 566 S Van Ness Avenue Unit COMM1
General Information
Standard status
Active
Size
3,874 SF
Property subtype
Mixed Use
Building Details
Building Size
3,874 SF
Year Built
2007
Listing Agency:
Compass
Listed By:
Scott Whelan
(415) 309-3795
Source:
Swanngroupsf
Added: Mar 18
Changed: Aug 28
Last Checked: Sep 1 at 10:33PM
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 Compass
Investment Insights
Based on property information with market context.
566 S Van Ness Avenue offers a large ground floor commercial condo within a modern 2007 building. The space is currently open and ready for build out, with an existing configuration that can be adapted to an end user’s requirements. The offering is described as approved for many uses, including office, retail storefront, light manufacturing, PDR, arts, studio, educational and instruction.
The property is centrally located in the Mission District and is approximately two blocks from a BART station. It sits among a diverse group of neighboring businesses.
This is a condo-style ground floor unit presented for sale, suitable for owner-users or investors seeking a commercial space with flexible, use-approved options and direct readiness for build out.
The property is centrally located in the Mission District and is approximately two blocks from a BART station. It sits among a diverse group of neighboring businesses.
This is a condo-style ground floor unit presented for sale, suitable for owner-users or investors seeking a commercial space with flexible, use-approved options and direct readiness for build out.
Key Highlights
- 3,874 SF ground‑floor commercial condo in a modern 2007 building in San Francisco’s Mission District
- Vacant space currently open and ready for build‑out, depending on end‑user needs
- Approved for many uses, including office, retail storefront, light manufacturing, PDR, arts, studio, educational, and instruction
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
$54,391
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
6.44%
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%
$1,087,820
$1.1M
Cap Rate 7%
$777,014
$777.0K
Cap Rate 9%
$604,344
$604.3K
Market Conditions
NOI Build-Up for 3,874 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
$93.0K $24.00/SF
− Vacancy
−$9.3K −$2.40/SF
EGI
$83.7K $21.60/SF
− OpEx
−$29.3K −$7.56/SF
NOI
$54.4K $14.04/SF
Area
ZIP 94110
Vacancy
10.00%
Lease Rate
$24.00 /SF/Yr
Expense Ratio
35.00%
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%
$1,087,820
Cap Rate 7%
$777,014
Cap Rate 9%
$604,344
Alternative Uses
Best Use
Retail
$17.66M
$15.45M – $20.60M
NOI $1,236,296 @ 7.0% cap · market cap 146.31%
Second Best
Office B
$1.12M
$978.6K – $1.30M
NOI $78,290 @ 7.0% cap · market cap 9.27%
Theoretical Best
Specialty Retail
$18.92M
$16.56M – $22.08M
NOI $1,324,603 @ 7.0% cap · market cap 156.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7,163
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 94110, CA
68,336
Population
30,685
Households
2.2
Avg Household Size
38
Median Age
61%
College-Educated
87%
High-School Grad
2.4 sq mi
ZIP Area
28,473
Density / Sq Mi
$152,403
Median Household Income
$80,431
Median Earnings
$2,404
Median Rent
$1,500,200
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?
Flex space - Ground floor commercial condo in a modern 2007 building, offered as a vacant space approved for a range of uses.
Where is this flex space located?
The property is located at 566 S Van Ness Avenue Unit COMM1 San Francisco, CA.
What is the asking price?
The asking price for this property is $845,000.
What are key features of this property?
This property features: 3,874 SF ground‑floor commercial condo in a modern 2007 building in San Francisco’s Mission District; Vacant space currently open and ready for build‑out, depending on end‑user needs; Approved for many uses, including office, retail storefront, light manufacturing, PDR, arts, studio, educational, and instruction
