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    345 Portal Ave San Francisco, CA 94127

    Sponsored
    For Sale
    $7,988,000

    Multi-tenant medical & office building, high upside.

    Property size:
    10,180 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional multi-tenant medical and traditional office building presents a compelling value-add investment opportunity in San Francisco's desirable West Portal neighborhood. Located at 345 W Portal Ave, this four-story, Class B building boasts 10,180 square feet of net rentable space, currently housing eight tenants with 77.65% occupancy. The asking price is $7,988,000, representing a price per square foot of $784.68 and a current cap rate of 4.67%. Significant upside potential exists with the leasing of the vacant fourth floor, projected to increase the pro-forma cap rate to 7.18% and the pro-forma NOI to $573,634. The property features 17 surface parking spaces, an elevator, and excellent access to public transportation, including nearby Muni stops. Its prime location within the West Portal shopping district offers strong visibility and accessibility. The building benefits from a modified lease structure and allows for rent bumps. This is the largest and most prominent medical office building in the West Portal area, presenting a rare opportunity for investors seeking a strong return in a thriving San Francisco market. The property's address is 345 W Portal Ave, San Francisco, CA 94127, with APN 3012-018, 3012-019.

    Property Features for 345 Portal Ave

    General Information

    Property type
    Medical offices
    Square Feet
    10,180 SF
    Class
    B

    Building Details

    Buildings
    1
    Stories
    4

    HighLights

    • Multi‑tenant medical and office building in San Francisco's desirable West Portal neighborhood.
    • 7.18% pro forma cap rate upon stabilization.
    • 77.65% occupancy with vacant fourth floor offering significant upside.
    • 17 surface parking spaces.
    • Elevator.
    • Excellent public transportation access via nearby Muni lines.
    Property Profile Location Intelligence

    Current Use by Public Records

    Edward Jones - Financial ... Financial Consultant Dr. Lary J. ... Dentist Juliati Jones Dentist Dr. Monica Chmiel Orthodontist Heather Rishel Pediatric Dermatologist

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Hair Salon Dental Office Clothing Store Nail Salon Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    San Francisco
    County
    San Francisco
    State
    California
    Longitude
    -122.46981319176
    Latitude
    37.737307640555

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    FAQs

    What type of property is this?
    Medical office - Multi-tenant medical & office building, high upside.
    Where is this medical office located?
    The property is located at 345 Portal Ave San Francisco, CA.
    What is the asking price?
    The asking price for this property is $7,988,000.
    What are key features of this property?
    This property features: Multi-tenant medical and office building in San Francisco's desirable West Portal neighborhood.; 7.18% pro forma cap rate upon stabilization.; 77.65% occupancy with vacant fourth floor offering significant upside.
    Request Owner's contact information
    345 Portal Ave San Francisco, CA 94127
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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.

    Alternative use

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

    More about this property
    345 Portal Ave San Francisco, CA 94127
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