445 Powell St, Unit 447 San Francisco, CA 94102-1503

Property Details for 445 Powell St

Year built

1914

Construction

WOOD

Lot size

0.05 lot acres

Property size

3,958 SF

Zone code

C3R

Property type

Retail space

APN

0296 -002

APU

296002

Description

This exceptional investment opportunity presents a fee-simple ownership of 445 Powell Street, a two-story, 5,569 square foot retail building in San Francisco's Union Square. Currently occupied by Bank of America under a triple-net (NNN) lease with a corporate guarantee, this property boasts a strong 8.35% cap rate and a $1,000,000 NOI. The lease, commencing September 1, 1990, has a remaining term of 1.8 years, followed by two five-year options to extend at the prevailing fair market rental rate, providing significant long-term stability. The asking price is $11,975,000, translating to $2,150.30 per square foot. The building, constructed in 1914 and situated on a 0.05-acre lot, is zoned C-3-R. Its prime location on Powell Street, a major north-south artery, places it within half a block of Union Square and the Powell Street cable car line. The property benefits from high visibility and foot traffic, enhanced by two prominent ATMs on the building's facade. Bank of America utilizes the entire building, encompassing branch services and ATMs on the ground floor, loan and account services on the second floor, and support offices in a fully improved lower level, complete with ADA-compliant restrooms and elevator access to all floors. Surrounding the property are numerous high-end retailers and hotels, solidifying its position within a thriving commercial district. This presents a rare chance to acquire a historically significant, generational asset in a prime San Francisco location.

Location Insight

City

San Francisco

County

San Francisco

State

California

Longitude

-122.409

Latitude

37.7889

CBSA code

41860

CBSA name

SAN FRANCISCO-OAKLAND-FREMONT, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments