New Retail
For Sale
$349,500
988 Harrison Street #CU-2, San Francisco, CA 94107
Open-plan commercial space offers contemporary finishes, abundant daylight, and customer-facing use potential.
Property Size505 SF
Price / SF$692.08
Days on Market10
Property Features for 988 Harrison Street #CU-2
General Information
Standard status
Active
Size
505 SF
Property subtype
Commercial
Additional Details
HOA Fee
$213.27
Utilities to Site
Yes
Amenities
high ceilings
abundant natural light
contemporary finishes
full heating and air conditioning
200-amp 3 phase electrical service
ADA-compliant restroom
open floor plan
Central air
BART Nearby
Central Air Cooling
Central Heating
Concrete Flooring
Freeway Nearby
Industrial Area
Near Public Transit
Neighborhood
Restaurant Nearby
Shopping Nearby
Building Details
Year Built
2024
Listing Agency:
URBAN GROUP REAL ESTATE
(415) 863-1775
Listed By:
LOUIS CORNEJO · License #01518102
Source:
Corcoran
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 29 at 7:55AM
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 URBAN GROUP REAL ESTATE
Investment Insights
Based on property information with market context.
Completed in 2024, this 505-square-foot commercial condominium provides an open interior with high ceilings, substantial natural light, and contemporary finishes. The space includes full heating and air conditioning, 200-amp 3-phase electrical service, and an ADA-compliant restroom. Its move-in-ready condition supports a range of customer-facing commercial applications, including boutique retail, wellness, creative office, professional services, and showroom use.
The condominium is part of the Renou on Harrison development and is located at 988 Harrison Street, Unit CU-2, in San Francisco. The efficient layout combines a compact footprint with core building features suited to an owner-user or investor seeking newly completed commercial space.
The condominium is part of the Renou on Harrison development and is located at 988 Harrison Street, Unit CU-2, in San Francisco. The efficient layout combines a compact footprint with core building features suited to an owner-user or investor seeking newly completed commercial space.
Key Highlights
- 505‑square‑foot commercial condominium completed in 2024
- Open floor plan with high ceilings and abundant natural light
- 200‑amp 3‑phase electrical service
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
$12,443
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
3.56%
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%
$248,860
$248.9K
Cap Rate 7%
$177,757
$177.8K
Cap Rate 9%
$138,256
$138.3K
Market Conditions
NOI Build-Up for 505 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
$22.2K $44.04/SF
− Vacancy
−$5.6K −$11.19/SF
EGI
$16.6K $32.85/SF
− OpEx
−$4.1K −$8.21/SF
NOI
$12.4K $24.64/SF
Area
San Francisco, CA
Vacancy
25.40%
Lease Rate
$44.04 /SF/Yr
Expense Ratio
25.00%
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%
$248,860
Cap Rate 7%
$177,757
Cap Rate 9%
$138,256
Alternative Uses
Best Use
Retail
$2.30M
$2.01M – $2.69M
NOI $161,159 @ 7.0% cap · market cap 46.11%
Second Best
Office B
$177.8K
$155.5K – $207.4K
NOI $12,443 @ 7.0% cap · market cap 3.56%
Theoretical Best
Specialty Retail
$2.47M
$2.16M – $2.88M
NOI $172,670 @ 7.0% cap · market cap 49.40%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
11,462
Businesses Nearby
Explore this area
Business Placement
Demographics for 94107, CA
34,012
Population
18,798
Households
1.8
Avg Household Size
36
Median Age
77%
College-Educated
93%
High-School Grad
1.9 sq mi
ZIP Area
17,901
Density / Sq Mi
$186,123
Median Household Income
$118,676
Median Earnings
$3,378
Median Rent
$1,227,000
Median Home Value
Market
Vacancy Rate% for Office in San Francisco, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Open-plan commercial space offers contemporary finishes, abundant daylight, and customer-facing use potential.
Where is this retail space located?
The property is located at 988 Harrison Street #CU-2 San Francisco, CA.
What is the asking price?
The asking price for this property is $349,500.
What are key features of this property?
This property features: 505‑square‑foot commercial condominium completed in 2024; Open floor plan with high ceilings and abundant natural light; 200‑amp 3‑phase electrical service
