Listing ID422710168
Price$6,500,000
StatusActive
SqFt
10,572
Acres
0.274
CountySan Francisco
Year Built1950
Property TypeCommercial Sale
Property Sub TypeRetail
1040 Columbus Avenue is a large retail property and parking lot in the North Beach neighborhood. The property is an opportunity for an investor to receive a Proforma CAP 4.95% return while preparing for future development. The structure 10,572 SF is located on an 11,918 SF corner lot with frontage on Columbus and Taylor. The property has a spacious kitchen, large bar, dining rooms, outdoor patio, and a mezzanine office. The kitchen is equipped with 30'+ hood and prep area. There is an 11-car parking lot and pole signage. The property is in the path of development and a candidate for high density redevelopment. Zoning permits up to 29 dwelling units or 85 group housing units. Development continues to progress nearby with a neighboring parcel already approved for 56 units. Columbus Avenue is a major retail thoroughfare bookended by Fisherman's Wharf and the Financial District. A mix of tourists, residents, and professionals walk this corridor on their way to its many cafes and restaurants. The area's well-known destinations include Washington Square, City Lights Bookstore, and St. Peter and Paul Church. The property's investment appeal is its location, dense population of residents, and outstanding upside potential through tenant repositioning and development.
County
San Francisco
Property Sub Type
Retail
Property Type
Commercial Sale
Year Built
1950
Building Features
Front Sign, Hood System, Kitchen Facilities, Pole Sign, Refrigeration
Construction Materials
Wood
Lot Features
Corner
Lot Size Square Feet
11918
Lot Size Units
SqFt
Parking Features
Uncovered
Total Parking Spaces
11
Area/District
SF District 8
Location
Downtown
Subdistrict
North Beach
APN
0050-001
Current Use
Restaurant
Lease Type
Net
Possession
Close Of Escrow
Special Listing Conditions
None
Listing Courtesy of Brian Leung, Compass Commercial
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