Four-Story Mixed-Use Corner
For Sale
$15,000,000
935 Kearny Street, San Francisco, CA 94133
Central San Francisco property combines SRO units, tourist rooms, and commercial space in a building constructed in 1907.
Property Size36,700 SF
Days on Market35
Property Features for 935 Kearny Street
General Information
Standard status
Active
Size
36,700 SF
Property subtype
Mixed Use
Units
Unit Mix
125 x SRO
Multifamily Units
125
Additional Details
Furnished
Yes
Building Details
Building Size
36,700 SF
Year Built
1907
Buildings
1
Stories
4
Tenancy
Multi
Listing Agency:
Colliers International
(415) 288-7847
Listed By:
Brad Lagomarsino · License #01058500
Source:
Swanngroupsf
Added: Jul 27
Changed: Aug 29
Last Checked: Aug 2 at 7:23AM
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 Colliers International
Investment Insights
Based on property information with market context.
Built in 1907, this 36,700-square-foot, four-story corner property brings together 125 SRO units, 20 tourist rooms, and six commercial units. The furnished residential accommodations include engineered wood flooring, natural light, mini refrigerators, microwaves, sinks, and limestone countertops. The varied configuration supports residential, hospitality, and commercial occupancy within one building.
The property fronts Columbus Avenue near the intersection of San Francisco’s Financial District, North Beach, and Chinatown. Restaurants, nightlife, shopping, and neighborhood services are within the surrounding area, while Downtown, the Embarcadero, and SOMA are accessible for commuters. Broadway, Stockton Street, and Pacific Avenue provide nearby transportation connections, and several recognized destinations—including Coit Tower, Washington Square Park, the Ferry Building, and the Exploratorium—are within walking distance.
The property fronts Columbus Avenue near the intersection of San Francisco’s Financial District, North Beach, and Chinatown. Restaurants, nightlife, shopping, and neighborhood services are within the surrounding area, while Downtown, the Embarcadero, and SOMA are accessible for commuters. Broadway, Stockton Street, and Pacific Avenue provide nearby transportation connections, and several recognized destinations—including Coit Tower, Washington Square Park, the Ferry Building, and the Exploratorium—are within walking distance.
Key Highlights
- 36,700‑square‑foot, four‑story mixed‑use building constructed in 1907
- 125 SRO units, 20 tourist rooms, and six commercial units
- Corner location along Columbus Avenue near the Financial District, North Beach, and Chinatown
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
$1,191,541
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
7.94%
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%
$23,830,820
$23.8M
Cap Rate 7%
$17,022,014
$17.0M
Cap Rate 9%
$13,239,344
$13.2M
Market Conditions
NOI Build-Up for 36,700 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
$2.31M $63.00/SF
− Vacancy
−$145.7K −$3.97/SF
EGI
$2.17M $59.03/SF
− OpEx
−$974.9K −$26.56/SF
NOI
$1.19M $32.47/SF
Area
San Francisco, CA
Vacancy
6.30%
Lease Rate
$63.00 /SF/Yr
Expense Ratio
45.00%
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%
$23,830,820
Cap Rate 7%
$17,022,014
Cap Rate 9%
$13,239,344
Alternative Uses
Best Use
Retail
$167.31M
$146.40M – $195.20M
NOI $11,711,943 @ 7.0% cap · market cap 78.08%
Second Best
Apartment 5plus
$17.02M
$14.89M – $19.86M
NOI $1,191,541 @ 7.0% cap · market cap 7.94%
Theoretical Best
Specialty Retail
$179.26M
$156.86M – $209.14M
NOI $12,548,510 @ 7.0% cap · market cap 83.66%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
125
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
27,734
Businesses Nearby
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 Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Central San Francisco property combines SRO units, tourist rooms, and commercial space in a building constructed in 1907.
Where is this mixed-use property located?
The property is located at 935 Kearny Street San Francisco, CA.
What is the asking price?
The asking price for this property is $15,000,000.
What are key features of this property?
This property features: 36,700‑square‑foot, four‑story mixed‑use building constructed in 1907; 125 SRO units, 20 tourist rooms, and six commercial units; Corner location along Columbus Avenue near the Financial District, North Beach, and Chinatown
