604 Mission Street, San Francisco, CA 94105
Office For Sale
Price Not Disclosed
Office Property For Sale
|Price||Price Not Disclosed||Cap Rate||6.14%|
|Building Size||26,794 SF||Building Class||A|
|Property Sub-type||Office Building||Lot Size||2,700 SF|
|Property Use Type||Investment|
|Listing ID: 19696057||Date Created: 03/21/2016||Last Updated: 04/18/2016|
1.0% fee to Buyer’s broker
**PLEASE RETURN EXECUTED CONFIDENTIALITY AGREEMENT TO RECEIVE FULL OFFERING MEMORANDUM**
604 Mission Street presents an opportunity for an investor to acquire a fully renovated trophy creative space building in San Francisco’s South Financial District – one of the most sought-after and dynamic office submarkets in the United States. The 26,794 rentable square foot building stands eleven floors over a finished basement. The property is leased to a mix of tenants including The Bancorp Bank, Shuddle and Eniac Ventures.
The Property will be 100% leased with a projected $1.59M net income in the first year and no scheduled rollover until 2018. Due to the $3.95 million ($147 per sq.ft.) capital and tenant improvements completed in 2015-2016 buyers can project very little capital or leasing costs in the near future. Improvements includ ed painting and water proofing the façade, elevator modernization, structural improvements, new fire sprinkler system and distribution, new restrooms, roof repairs and new tenant improvements on all floors.
604 Mission Street is located in San Francisco’s South Financial District on the Second Street Corridor. The SFD is recognized as the premier office submarket in San Francisco and consistently outperforms all other office submarkets in the City. The Second Street Corridor consistently achieves the highest office rents in the City for creative space.