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Listed by Davis Nguyen Compass Commercial
$ 2,150,000
Est. payment /mo
New
1149 Folsom ST San Francisco, CA 94103
3,620 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Active
Purchase Type For Sale
Square Footage 3,620 sqft
Price per Sqft $593
MLS Listing ID 426165178
HOA Y/N No
Year Built 1987
Lot Size 2,252 Sqft
Acres 0.0517
Property Sub-Type Retail
Property Description
1149-1151 Folsom Street is a freestanding, single-tenant bar/nightclub building in the heart of San Francisco's Western SoMa entertainment corridor. The 3,620 SF two-story building sits on a 2,250 SF lot at the corner of Hallam Street, between 7th and 8th Streets, and is 100% leased to a bar/nightclub operator in place since 2004 at $11,000 per month ($132,000 annually) under a lease running through March 31, 2028. At the asking price of $2,150,000 ($594/SF) the in-place income produces a 5.57% cap rate and a 16.3 GRM. The property is zoned Folsom Street NCT (Neighborhood Commercial Transit) with a 65-X height limit and shares the block with the Bloodhound, The Stud, Cat Club and F8, with I-80 / US-101 access two blocks south.
Location
State CA
County San Francisco
Area Sf District 9
Zoning NCT
Interior
Fireplace No
Building
New Construction No
Others
Tax ID 3755078
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