Commercial Development
For Sale
Contact for pricing
86 Golden Gate Avenue, San Francisco, CA 94102
C-3-G-zoned property supports redevelopment planning alongside an existing historic building and downtown adaptive-reuse incentives.
Property Size11,180 SF
Price / SF$268.34
Days on Market48
Property Features for 86 Golden Gate Avenue
General Information
Standard status
Active
Size
11,180 SF
Property subtype
Retail, Multifamily, Land
Zoning
C-3-G (Downtown General)
Investment Type
Redevelopment
Building Details
Year Built
1918
Listing Agency:
The Corcoran Group
(650) 339-6818
Listed By:
Rachna Gandhi · License #0204779
Source:
Crexi
Added: Jul 16
Changed: Aug 29
Last Checked: Aug 29 at 1:21PM
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 Corcoran Group
Investment Insights
Based on property information with market context.
86 Golden Gate Avenue comprises an approximately 4,726 SF development site within San Francisco’s C-3-G (Downtown General) zoning district. Development parameters include a 120-foot height limit, form-based residential density without a fixed unit cap, and individual units of up to 4,000 SF. A ground-floor retail component is not required for the residential program.
The property also contains an approximately 11,180 SF Category A historic building constructed in 1918. Facade retention is required, creating an alternative path centered on renovation and repositioning for retail, creative office, or institutional use. The property participates in San Francisco’s Downtown Adaptive Reuse Program and Revitalization Financing District, which provide fee waivers and incentive payments for qualifying downtown residential projects.
Transit access includes a location two blocks from Civic Center / UN Plaza station, served by BART and Muni Metro, with Market Street rapid transit, UN Plaza, and Union Square within walking distance. Potential assemblage with 64 Golden Gate Avenue is also identified.
The property also contains an approximately 11,180 SF Category A historic building constructed in 1918. Facade retention is required, creating an alternative path centered on renovation and repositioning for retail, creative office, or institutional use. The property participates in San Francisco’s Downtown Adaptive Reuse Program and Revitalization Financing District, which provide fee waivers and incentive payments for qualifying downtown residential projects.
Transit access includes a location two blocks from Civic Center / UN Plaza station, served by BART and Muni Metro, with Market Street rapid transit, UN Plaza, and Union Square within walking distance. Potential assemblage with 64 Golden Gate Avenue is also identified.
Key Highlights
- Approximately 4,726 SF development site with a 120‑foot height limit
- C‑3‑G (Downtown General) zoning with form‑based residential density and no fixed unit cap
- Units may reach up to 4,000 SF; ground‑floor retail is not required
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
$249,454
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
8.32%
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%
$4,989,080
$5.0M
Cap Rate 7%
$3,563,629
$3.6M
Cap Rate 9%
$2,771,711
$2.8M
Market Conditions
NOI Build-Up for 11,180 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
$469.6K $42.00/SF
− Vacancy
−$70.4K −$6.30/SF
EGI
$399.1K $35.70/SF
− OpEx
−$149.7K −$13.39/SF
NOI
$249.5K $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%
$4,989,080
Cap Rate 7%
$3,563,629
Cap Rate 9%
$2,771,711
Alternative Uses
Best Use
Retail
$50.97M
$44.60M – $59.46M
NOI $3,567,834 @ 7.0% cap · market cap 118.93%
Second Best
Mixed Use
$3.56M
$3.12M – $4.16M
NOI $249,454 @ 7.0% cap · market cap 8.32%
Theoretical Best
Specialty Retail
$54.61M
$47.78M – $63.71M
NOI $3,822,680 @ 7.0% cap · market cap 127.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
19,172
Businesses Nearby
54k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 52%
Hotels & Casinos 29%
Dining 19%
Shell
Shops & Services
13,361 visits/mo
0.4 miles
Wells Fargo
Shops & Services
8,374 visits/mo
0.2 miles
The Melt
Dining
7,839 visits/mo
0.4 miles
Courtyard by Marriott San Francisco Downtown/Van Ness Ave.
Hotels & Casinos
5,529 visits/mo
0.4 miles
Avis Budget Car Rental
Shops & Services
4,472 visits/mo
0.4 miles
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 Retail in San Francisco, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Commercial land - C-3-G-zoned property supports redevelopment planning alongside an existing historic building and downtown adaptive-reuse incentives.
Where is this commercial land located?
The property is located at 86 Golden Gate Avenue San Francisco, CA.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Approximately 4,726 SF development site with a 120‑foot height limit; C‑3‑G (Downtown General) zoning with form‑based residential density and no fixed unit cap; Units may reach up to 4,000 SF; ground‑floor retail is not required
