San Francisco Chinatown Investment
For Sale
$1,600,000
818 Jackson Street, San Francisco, CA 94133
Fully leased medical office building in San Francisco's Chinatown.
Property Size5,728 SF
Price / SF$279.33
Days on Market410
Property Features for 818 Jackson Street
General Information
Standard status
Active
Size
5,728 SF
Building Details
Year Built
1938
Listing Agency:
MARCUS & MILLICHAP
Listed By:
NING H HO
Source:
Corcoran
Added: Jul 19, 2025
Changed: Mar 16
Last Checked: Aug 31 at 10:25PM
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 MARCUS & MILLICHAP
Investment Insights
Based on property information with market context.
Located in the heart of San Francisco's Chinatown, 818 Jackson Street is a well-maintained, three-story building spanning approximately 5,728 square feet on a 1,890-square-foot lot. The property consists of six medical office suites, all currently leased to established tenants. Situated blocks from the Financial District, North Beach, and major public transit lines, the property benefits from heavy daily foot traffic and is surrounded by restaurants, retail shops, and local businesses. The property is zoned Chinatown Residential Neighborhood Commercial (CRNC), and its Assessor's Parcel Number (APN) is 0179-010A. This central location offers excellent visibility and steady demand from both tenants and visitors. This property presents an opportunity for investors to acquire a fully leased, income-generating asset in one of San Francisco's active and culturally rich neighborhoods.
Key Highlights
- Fully leased, income‑generating asset.
- Prime location in the heart of San Francisco's Chinatown.
- High foot traffic area near Financial District and North Beach.
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
$141,140
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
8.82%
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%
$2,822,800
$2.8M
Cap Rate 7%
$2,016,286
$2.0M
Cap Rate 9%
$1,568,222
$1.6M
Market Conditions
NOI Build-Up for 5,728 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
$252.3K $44.04/SF
− Vacancy
−$64.1K −$11.19/SF
EGI
$188.2K $32.85/SF
− OpEx
−$47.0K −$8.21/SF
NOI
$141.1K $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%
$2,822,800
Cap Rate 7%
$2,016,286
Cap Rate 9%
$1,568,222
Alternative Uses
Best Use
Office B
$2.02M
$1.76M – $2.35M
NOI $141,140 @ 7.0% cap · market cap 8.82%
Second Best
Healthcare Medical
$1.56M
$1.36M – $1.81M
NOI $108,878 @ 7.0% cap · market cap 6.80%
Theoretical Best
Specialty Retail
$27.98M
$24.48M – $32.64M
NOI $1,958,525 @ 7.0% cap · market cap 122.41%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
26,927
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94133, CA
26,751
Population
15,733
Households
1.7
Avg Household Size
41
Median Age
55%
College-Educated
80%
High-School Grad
0.7 sq mi
ZIP Area
38,216
Density / Sq Mi
$83,025
Median Household Income
$78,478
Median Earnings
$1,985
Median Rent
$1,519,100
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 - Fully leased medical office building in San Francisco's Chinatown.
Where is this medical office space located?
The property is located at 818 Jackson Street San Francisco, CA.
What is the asking price?
The asking price for this property is $1,600,000.
What are key features of this property?
This property features: Fully leased, income‑generating asset.; Prime location in the heart of San Francisco's Chinatown.; High foot traffic area near Financial District and North Beach.
