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    Creative Office Building Title is generated by Realmo AI

    948-950 Howard Street, San Francisco, CA 94107

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    Fee-simple creative office space with mostly open collaboration layout, kitchenette, breakout rooms, and a conference room.

    Type:Office
    Property size:
    4,100 SF
    Price / SF:
    $475/SF
    Added:
    Jun 2, 2026
    Days on Market:
    5
    Last Refresh:
    Jun 6 at 2:02 am

    Property Features for 948-950 Howard Street

    General Information

    Standard status
    Active
    Size
    4,100 SF
    Property subtype
    Office

    We can help!

    Listing Contact
    Zach Haupert

    Listing agent Zach Haupert

    Listing office Touchstone Commercial Partners

    Listing date Jun 2, 2026

    Source Crexi

    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

    HighLights

    • Fee‑simple interest offered at 948‑950 Howard Street, San Francisco, CA 94107.
    • Creative office build‑out with a mostly open collaboration layout.
    • Includes kitchenette, breakout rooms, and a conference room.
    • Parking options: surface lot half a block away and ample metered street parking.
    • Located steps from Intercontinental Hotel, Westfield San Francisco Centre, Metreon, Yerba Buena Gardens, and Moscone Center.

    Overview

    This fee-simple property at 948–950 Howard Street features a creative build-out designed for collaboration. The interior offers a mostly open layout supported by a kitchenette, multiple breakout rooms, and a dedicated conference room, making the space well-suited to teams that want both shared work areas and private discussion space.

    The property is positioned just steps from several major destinations, including the Intercontinental Hotel, Westfield San Francisco Centre, Metreon, Yerba Buena Gardens, and Moscone Center. Parking is available via a surface lot located about half a block away, along with ample metered street parking.

    The configuration supports owner-users and small businesses seeking an immediately usable workplace with its own identity. Investors and operators can also consider the straightforward, collaboration-focused layout for office tenants looking for a turnkey creative office environment in a dense Midtown-adjacent area surrounded by ongoing residential, retail, and office development.

    Local Financial Insights For Office B

    Simulate Cap Rate and NOI

    NOI Build-Up
    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.

    Component $ $/SF
    Gross rent $180.6k $44.04
    − Vacancy −$45.9k −$11.19
    EGI $134.7k $32.85
    − OpEx −$33.7k −$8.21
    NOI $101.0k $24.64
    4,100 SF · lease $44.04/SF/yr · vacancy 25.40% · expense 25.00%

    Alternative Uses

    Best Use
    Office B
    $1.44M
    $1.26M – $1.68M (±1% cap)
    NOI $101,026 @ 7.0% cap · market cap 5.18%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Specialty Retail
    $20.03M
    $17.52M – $23.36M (±1% cap)
    NOI $1,401,877 @ 7.0% cap · market cap 71.89%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Creative space

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Hair Salon Dental Office Nail Salon Building Supply Daycare Center Gym & Fitness Center Kitchen & Bath Showroom

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Francisco
    County
    San Mateo
    State
    California
    Longitude
    -122.406248
    Latitude
    37.780912

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    FAQs

    What type of property is this?
    Creative space - Fee-simple creative office space with mostly open collaboration layout, kitchenette, breakout rooms, and a conference room.
    Where is this creative space located?
    The property is located at 948-950 Howard Street San Francisco, CA.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: Fee‑simple interest offered at 948‑950 Howard Street, San Francisco, CA 94107.; Creative office build‑out with a mostly open collaboration layout.; Includes kitchenette, breakout rooms, and a conference room.
    We can help!
    Contact for Pricing
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    and status of this listing
    Zach Haupert
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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