Mixed-Use Building in Prime
For Sale
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1641 Jackson St, San Francisco, CA 94109
24,000 SF mixed-use building between Russian Hill and Pacific Heights.
Property Size24,000 SF
Price / SF$343.75
Days on Market1701
Property Features for 1641 Jackson St
General Information
Standard status
Active
Size
24,000 SF
Property subtype
Retail, Mixed Use
Occupancy
100%
Lease Type
NNN
Investment Type
Value Add
Net Operating Income
$336,000
Building Details
Stories
2
Tenancy
Single
Listing Agency:
Retail Pacific Inc.
Listed By:
Carol Therien · License #CA 00909068
(925) 256-4555
Source:
Crexi
Added: Jan 26, 2022
Changed: Sep 11
Last Checked: Sep 22 at 1:59PM
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 Retail Pacific Inc.
Investment Insights
Based on property information with market context.
This 24,000 sq ft building is situated between Russian Hill and Pacific Heights. The property features 12,000 sq ft on the ground level with high ceilings reaching 25 feet at the peak. An additional 12,000 sq ft is located on the lower level, offering parking space with 11-foot ceilings. The building showcases a historic facade. SF Fitness is opening in the spring across the street.
Key Highlights
- 24,000 sq ft building in a prime location between Russian Hill and Pacific Heights.
- 12,000 sq ft ground level with high ceilings (25’ at peak).**
- 12,000 sq ft lower level parking (11’ ceiling).
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
$459,000
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
5.56%
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%
$9,180,000
$9.2M
Cap Rate 7%
$6,557,143
$6.6M
Cap Rate 9%
$5,100,000
$5.1M
Market Conditions
NOI Build-Up for 24,000 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
$864.0K $36.00/SF
− Vacancy
−$129.6K −$5.40/SF
EGI
$734.4K $30.60/SF
− OpEx
−$275.4K −$11.48/SF
NOI
$459.0K $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%
$9,180,000
Cap Rate 7%
$6,557,143
Cap Rate 9%
$5,100,000
Alternative Uses
Best Use
Mixed Use
$6.56M
$5.74M – $7.65M
NOI $459,000 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Retail
$109.41M
$95.74M – $127.65M
NOI $7,659,036 @ 7.0% cap · market cap 92.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
10,978
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
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Frequently Asked Questions
What type of property is this?
Mixed-use property - 24,000 SF mixed-use building between Russian Hill and Pacific Heights.
Where is this mixed-use property located?
The property is located at 1641 Jackson St San Francisco, CA.
What is the asking price?
The asking price for this property is $8,250,000.
What are key features of this property?
This property features: 24,000 sq ft building in a prime location between Russian Hill and Pacific Heights.; 12,000 sq ft ground level with high ceilings (25’ at peak).**; 12,000 sq ft lower level parking (11’ ceiling).
