Showroom-Style Flex
For Sale
$775,000
R1-637 King St, San Francisco, CA 94107
Open-span configuration supports showroom presentation alongside warehouse use.
Property Size1,280 SF
Price / SF$605.47
Days on Market345
Property Features for R1-637 King St
General Information
Standard status
Active
Size
1,280 SF
Zoning
UMU-68-X
Additional Details
Road Access
Yes
Clear Span
Yes
Building Details
Year Built
2007
Buildings
1
Building Size
1,280 SF
Tenancy
Single
Listing Agency:
Engel & Voelkers San Francisco
(415) 794-6453
Listed By:
Michael B Johnston
(415) 794-6453
Source:
Exprealty
Added: Sep 23, 2025
Changed: Aug 30
Last Checked: Aug 31 at 6:23PM
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 Engel & Voelkers San Francisco
Investment Insights
Based on property information with market context.
This flex property contains a 1,280 SF open-span building configured in a showroom-style warehouse format. Completed in 2007, the structure offers a contemporary commercial setting with a layout suited to presentation and storage functions. UMU-68-X zoning provides the property’s stated land-use designation, while the existing month-to-month tenancy allows for continued occupancy or future customization.
The property is located at R1-637 King St in San Francisco, California, with street frontage contributing to its public-facing presence. The combination of showroom orientation, warehouse configuration, and flexible zoning gives the asset a practical profile for an owner-user or investor.
The property is located at R1-637 King St in San Francisco, California, with street frontage contributing to its public-facing presence. The combination of showroom orientation, warehouse configuration, and flexible zoning gives the asset a practical profile for an owner-user or investor.
Key Highlights
- 1,280 SF building with open‑span showroom‑style warehouse layout
- 2007 construction
- UMU‑68‑X zoning
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
$26,438
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
3.41%
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%
$528,760
$528.8K
Cap Rate 7%
$377,686
$377.7K
Cap Rate 9%
$293,756
$293.8K
Market Conditions
NOI Build-Up for 1,280 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
$34.6K $27.00/SF
− Vacancy
−$3.5K −$2.70/SF
EGI
$31.1K $24.30/SF
− OpEx
−$4.7K −$3.65/SF
NOI
$26.4K $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%
$528,760
Cap Rate 7%
$377,686
Cap Rate 9%
$293,756
Alternative Uses
Best Use
Retail
$5.84M
$5.11M – $6.81M
NOI $408,482 @ 7.0% cap · market cap 52.71%
Second Best
Warehouse
$377.7K
$330.5K – $440.6K
NOI $26,438 @ 7.0% cap · market cap 3.41%
Theoretical Best
Specialty Retail
$6.25M
$5.47M – $7.29M
NOI $437,659 @ 7.0% cap · market cap 56.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
6,556
Businesses Nearby
Well-served
Demand for This Use
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 Industrial in West region
Questions? Ask Rey
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Similar Off Market Nearby
- The Pup Shack — 601 Mission Bay Boulevard North, San Francisco, CA 94158
- Momo Dumplings — 60 Morris St, San Francisco, CA 94107
- Thrive Kitchen — 60 Morris St, San Francisco, CA 94107
- KC Catering — 660 4th St #328, San Francisco, CA 94107
- King Knish — 660 4th St No. 479, San Francisco, CA 94107
Frequently Asked Questions
What type of property is this?
Flex space - Open-span configuration supports showroom presentation alongside warehouse use.
Where is this flex space located?
The property is located at R1-637 King St San Francisco, CA.
What is the asking price?
The asking price for this property is $775,000.
What are key features of this property?
This property features: 1,280 SF building with open‑span showroom‑style warehouse layout; 2007 construction; UMU‑68‑X zoning
