Industrial Condo in India
For Sale
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3450 3rd St, San Francisco, CA 94124
4,230 SF commercial condominium in San Francisco for sale.
Property Size4,230 SF
Price / SF$354.61
Days on Market844
Property Features for 3450 3rd St
General Information
Standard status
Active
Size
4,230 SF
Property subtype
Industrial
Zoning
PDR-2 (Production, Distribution, And Repair)
Investment Type
Owner/User
Building Details
Year Built
1987
Listing Agency:
Touchstone Commercial Partners
(415) 539-1121
Listed By:
Zach Haupert · License #CA 01822907
Source:
Crexi
Added: May 1, 2024
Changed: Aug 8
Last Checked: May 12 at 9:06PM
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 Touchstone Commercial Partners
Investment Insights
Based on property information with market context.
A 4,230 square foot commercial condominium is available for purchase. Located at the mouth of India Basin in San Francisco, California, the two-floor property is situated in an industrial neighborhood. The property will be delivered vacant at the close of escrow, presenting an opportunity for owner-users or investors.
Key Highlights
- Delivered vacant at close of escrow, ideal for owner/user or investor
- Located in a desirable industrial neighborhood
- Unique and rare opportunity to purchase property in this area
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
$71,952
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
4.80%
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%
$1,439,040
$1.4M
Cap Rate 7%
$1,027,886
$1.0M
Cap Rate 9%
$799,467
$799.5K
Market Conditions
NOI Build-Up for 4,230 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
$114.2K $27.00/SF
− Vacancy
−$11.4K −$2.70/SF
EGI
$102.8K $24.30/SF
− OpEx
−$30.8K −$7.29/SF
NOI
$72.0K $17.01/SF
Area
San Francisco, CA
Vacancy
10.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,439,040
Cap Rate 7%
$1,027,886
Cap Rate 9%
$799,467
Alternative Uses
Best Use
Industrial
$1.03M
$899.4K – $1.20M
NOI $71,952 @ 7.0% cap · market cap 4.80%
Second Best
Flex RnD
$1.00M
$876.4K – $1.17M
NOI $70,112 @ 7.0% cap · market cap 4.67%
Theoretical Best
Specialty Retail
$20.66M
$18.08M – $24.11M
NOI $1,446,327 @ 7.0% cap · market cap 96.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,644
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94124, CA
39,445
Population
11,780
Households
3.3
Avg Household Size
37
Median Age
27%
College-Educated
75%
High-School Grad
4.8 sq mi
ZIP Area
8,218
Density / Sq Mi
$82,928
Median Household Income
$42,683
Median Earnings
$1,368
Median Rent
$1,043,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - 4,230 SF commercial condominium in San Francisco for sale.
Where is this flex space located?
The property is located at 3450 3rd St San Francisco, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Delivered vacant at close of escrow, ideal for owner/user or investor; Located in a desirable industrial neighborhood; Unique and rare opportunity to purchase property in this area
