Spacious Russian Hill Mixed-Use
For Sale
Contact for pricing
1545 Pacific Ave, San Francisco, CA 94109
Sunlit mixed-use building in Russian Hill's vibrant retail corridor.
Property Size13,611 SF
Price / SF$396.74
Days on Market1097
Property Features for 1545 Pacific Ave
General Information
Standard status
Active
Size
13,611 SF
Property subtype
Retail, Office, Industrial
Zoning
NCD - Pacific Avenue Neighborhood Commercial
Building Details
Year Built
1937
Listing Agency:
Maven Commercial, Inc
(415) 781-7700
Listed By:
Santino DeRose · License #CA 01338326
Source:
Crexi
Added: Aug 31, 2023
Changed: Aug 17
Last Checked: Aug 31 at 11:18AM
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 Maven Commercial, Inc
Investment Insights
Based on property information with market context.
Located in the Russian Hill neighborhood of San Francisco, 1545 Pacific Avenue is a generously spacious and sunlit building. The property has a total area of up to 13,611 square feet and can be subdivided into a minimum of 2,000 square feet. The owner is open to leasing or selling the property, with options such as lease agreements with the potential to purchase, flexible short or extended-term leases, or purchasing with seller financing. The ground floor features an open floor plan that transitions to an upper level filled with sunlight. This upper space includes open workspaces, private offices, and vast ceilings. Oversized windows provide abundant natural light throughout the day. Situated in the heart of Upper Polk Street, within the retail corridor of Russian Hill, the property offers access to the city. Nearby businesses include the upcoming BiRite, Cheese Plus, Reveille Coffee, Nisei, Blue Barn, and Walgreens. The property is near transportation options and street parking. Monthly parking arrangements may be available in nearby lots and garages.
Key Highlights
- Highly desirable Russian Hill location in the Upper Polk Street retail corridor.
- Versatile property with options for leasing or sale, including lease‑to‑purchase and seller financing.
- Generously spacious with up to 13,611 square feet, divisible to 2,000 square feet.
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
$260,310
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
4.82%
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%
$5,206,200
$5.2M
Cap Rate 7%
$3,718,714
$3.7M
Cap Rate 9%
$2,892,333
$2.9M
Market Conditions
NOI Build-Up for 13,611 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
$490.0K $36.00/SF
− Vacancy
−$73.5K −$5.40/SF
EGI
$416.5K $30.60/SF
− OpEx
−$156.2K −$11.48/SF
NOI
$260.3K $19.13/SF
Area
ZIP 94109
Vacancy
15.00%
Lease Rate
$36.00 /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%
$5,206,200
Cap Rate 7%
$3,718,714
Cap Rate 9%
$2,892,333
Alternative Uses
Best Use
Mixed Use
$3.72M
$3.25M – $4.34M
NOI $260,310 @ 7.0% cap · market cap 4.82%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$62.05M
$54.30M – $72.39M
NOI $4,343,631 @ 7.0% cap · market cap 80.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
8,715
Businesses Nearby
Explore this area
Business Placement
Demographics for 94109, CA
58,501
Population
39,043
Households
1.5
Avg Household Size
38
Median Age
65%
College-Educated
90%
High-School Grad
1.1 sq mi
ZIP Area
53,183
Density / Sq Mi
$112,201
Median Household Income
$89,841
Median Earnings
$2,172
Median Rent
$1,390,000
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Sunlit mixed-use building in Russian Hill's vibrant retail corridor.
Where is this mixed-use property located?
The property is located at 1545 Pacific Ave San Francisco, CA.
What is the asking price?
The asking price for this property is $5,400,000.
What are key features of this property?
This property features: Highly desirable Russian Hill location in the Upper Polk Street retail corridor.; Versatile property with options for leasing or sale, including lease‑to‑purchase and seller financing.; Generously spacious with **up to 13,611 square feet**, divisible to 2,000 square feet.
