Sold Retail Properties in San Francisco County – 527-533 Sutter St., San Francisco, CA 94102 4/10
527-533 Sutter St., San Francisco, CA 94102
|Sale Price:||$4,625,000 ($312.97/SF)|
|Cap Rate:||5.13% (At Time Of Listing)|
|Estimated days on
The subject property is located in the heart of Union Square just blocks north east of the famous plaza of the same name. San Francisco hosted over 16 million visitors in 2011, including hotel guests, those staying with friends and relatives, those staying in accommodations outside the City but whose primary destination was San Francisco, and regional visitors driving in for the day. These visitors spent $8.46 billion in local businesses. This massive injection of visitor dollars directly supports local hotels, restaurants, shops, attractions, and cultural institutions such as the tenants located at the subject property. The newly opened 7-Eleven has already proven successful. 7-Eleven has a lease in place until 2021 plus two five year options. The three cotenants have been at this location for many years which shows their viability and all three co-tenants have leases expiring in 2014 which will allow for rental upside if the new buyer elects.
Parties to Transaction
250 FOURTH STREET PROJECT LLC
250 FOURTH DEV – 275 S Airport Blvd South San Francisco, CA
Sale involved mortgage financing. Lender identified as EAST WEST BK.