Medical Condo in Richmond
For Sale
$849,000
6850 Geary Boulevard, San Francisco, CA 94121
Medical condo for sale in a busy San Francisco location.
Property Size1,748 SF
Price / SF$485.70
Days on Market154
Property Features for 6850 Geary Boulevard
General Information
Standard status
Active
Size
1,748 SF
Property subtype
Office
Building Details
Building Size
1,748 SF
Year Built
1980
Listing Agency:
JODI Group
(415) 661-3232
Listed By:
John M Lee
Source:
Gregglynn
Added: Apr 1
Changed: Aug 23
Last Checked: Aug 30 at 11:10PM
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 JODI Group
Investment Insights
Based on property information with market context.
This 1,748-square-foot commercial condo is located on a busy corner in the Richmond District. The layout includes 5 exam rooms, 2 private offices, a receptionist area, a waiting room, a lunch/break room, and 2 ADA-compliant restrooms. There are also 2 other miscellaneous rooms. The property is suitable for a small medical or dental practice, with potential for other office uses as well. The location offers convenient access to MUNI and other amenities.
Key Highlights
- Large medical condo suitable for medical or dental practice
- Prime location on a busy corner in the Richmond District
- Includes 5 exam rooms and 2 private offices
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
$43,071
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
5.07%
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%
$861,420
$861.4K
Cap Rate 7%
$615,300
$615.3K
Cap Rate 9%
$478,567
$478.6K
Market Conditions
NOI Build-Up for 1,748 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
$77.0K $44.04/SF
− Vacancy
−$19.6K −$11.19/SF
EGI
$57.4K $32.85/SF
− OpEx
−$14.4K −$8.21/SF
NOI
$43.1K $24.64/SF
Area
San Francisco, CA
Vacancy
25.40%
Lease Rate
$44.04 /SF/Yr
Expense Ratio
25.00%
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%
$861,420
Cap Rate 7%
$615,300
Cap Rate 9%
$478,567
Alternative Uses
Best Use
Office B
$615.3K
$538.4K – $717.9K
NOI $43,071 @ 7.0% cap · market cap 5.07%
Second Best
Healthcare Medical
$474.7K
$415.3K – $553.8K
NOI $33,226 @ 7.0% cap · market cap 3.91%
Theoretical Best
Specialty Retail
$8.54M
$7.47M – $9.96M
NOI $597,678 @ 7.0% cap · market cap 70.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,612
Businesses Nearby
Under-served
Demand for This Use
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 Office in San Francisco, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical condo for sale in a busy San Francisco location.
Where is this medical office space located?
The property is located at 6850 Geary Boulevard San Francisco, CA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Large medical condo suitable for medical or dental practice; Prime location on a busy corner in the Richmond District; Includes **5 exam rooms** and **2 private offices**
