736-738 Grant Ave San Francisco, CA 94108

Property Details for 736-738 Grant Ave

Year built

1907

Property size

7,072 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This three-story, 7,072 square foot shopping center in San Francisco's historic Chinatown offers a compelling investment opportunity. Located on Grant Avenue between Clay and Sacramento streets, this property boasts a prime location with high foot traffic and easy access to public transportation, including the Chinatown MUNI Station and cable car lines. Currently, two of the three units are occupied, with one retail tenant recently signing a five-year lease with annual escalations. The middle floor is vacant, presenting an immediate opportunity for owner-occupancy or lease-up. The top floor is on a month-to-month lease. Each of the three commercial units offers approximately 1,800 square feet, including mezzanine and additional storage space. Built in 1907, the building sits on a 1,838 square foot lot and is zoned CVR. The asking price is $2,900,000, representing a price per square foot of $410.07, a 2.91% cap rate, and a pro-forma cap rate of 3.41%. The current occupancy is 67%, with a pro-forma net operating income (NOI) of $98,811. This property presents a rare opportunity for an owner-user or an investor seeking a well-located, multi-tenant retail building in a vibrant and growing neighborhood. The property's unique details and strong potential for appreciation make it an attractive addition to any portfolio.