Warehouse Condominium with
For Sale
$650,000
Pending
A-1190 Shafter Ave, San Francisco, CA 94124
Industrial condominium with open work space, mezzanine area, and roll-up door access.
Property Size1,875 SF
Days on Market220
Property Features for A-1190 Shafter Ave
General Information
Standard status
Pending
Size
1,875 SF
Zoning
PDR-1-B
Additional Details
Warehouse Space
1,875 SF
Building Details
Year Built
1988
Listing Agency:
Compass Commercial
(415) 345-3000
Listed By:
Davis Trucdan Nguyen · License #01509978
(415) 412-5703
Source:
Exprealty
Added: Jan 23
Changed: Aug 31
Last Checked: Aug 30 at 8:31PM
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 Compass Commercial
Investment Insights
Based on property information with market context.
This industrial warehouse condominium provides approximately 1,875 square feet of warehouse space along with a bonus mezzanine. The interior includes an open work area and roll-up door, supporting flexible industrial and operational use. Constructed in 1988, the property is located in San Francisco’s Bayview District within an established industrial area.
The site offers access to major freeways and San Francisco’s industrial corridors. PDR-1-B zoning allows a wide range of permitted uses, providing flexibility for an owner-user or investor seeking an industrial condominium asset.
The site offers access to major freeways and San Francisco’s industrial corridors. PDR-1-B zoning allows a wide range of permitted uses, providing flexibility for an owner-user or investor seeking an industrial condominium asset.
Key Highlights
- Approximately 1, 875 square feet of warehouse space
- Bonus mezzanine adds usable area
- Open work area supports flexible operations
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
$38,728
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
5.96%
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%
$774,560
$774.6K
Cap Rate 7%
$553,257
$553.3K
Cap Rate 9%
$430,311
$430.3K
Market Conditions
NOI Build-Up for 1,875 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
$50.6K $27.00/SF
− Vacancy
−$5.1K −$2.70/SF
EGI
$45.6K $24.30/SF
− OpEx
−$6.8K −$3.65/SF
NOI
$38.7K $20.66/SF
Area
San Francisco, CA
Vacancy
10.00%
Lease Rate
$27.00 /SF/Yr
Expense Ratio
15.00%
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%
$774,560
Cap Rate 7%
$553,257
Cap Rate 9%
$430,311
Alternative Uses
Best Use
Warehouse
$553.3K
$484.1K – $645.5K
NOI $38,728 @ 7.0% cap · market cap 5.96%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$9.16M
$8.01M – $10.69M
NOI $641,102 @ 7.0% cap · market cap 98.63%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,152
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 94124, CA
39,445
Population
11,780
Households
3.3
Avg Household Size
37
Median Age
27%
College-Educated
75%
High-School Grad
4.8 sq mi
ZIP Area
8,218
Density / Sq Mi
$82,928
Median Household Income
$42,683
Median Earnings
$1,368
Median Rent
$1,043,200
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Warehouse - Industrial condominium with open work space, mezzanine area, and roll-up door access.
Where is this warehouse located?
The property is located at A-1190 Shafter Ave San Francisco, CA.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: Approximately 1, 875 square feet of warehouse space; Bonus mezzanine adds usable area; Open work area supports flexible operations
