347-363 Grant Ave - Apartments FOR SALE


San Francisco, CA 94108- Union Square
$15,000,000 USD
415-229-1245
347-363 Grant Ave, San Francisco, CA for Sale
$15,000,000 USD
Apartments - FOR SALE
1/5
null | 7.7% Cap Rate

347-363 Grant Ave
San Francisco, CA 94108
Union Square


OVERVIEW

507 Bush/347-359-363 Grant Ave is an architecturally attractive mixed-use trophy corner building located in the heart of San Francisco’s Union Square/Financial District. It houses The Urban Hotel, a three-story property with 55 rooms. The Urban offers budget-friendly accommodations with shared facilities, including a variety of room types like economy doubles and singles, all with shared bathrooms. It caters to travelers looking for affordable lodging in a top location. The Urban Hotel is in excellent condition and very well operated by Engage Hospitality LLC, a talented and experienced operator with a 10 year master lease. They have been managing 100% of the daily residential operations since 2017. The first floor offers over 8,000 square feet of prime retail space along Grant Avenue, making it ideal for retail businesses seeking high visibility in a superb A+ location. The corner space (359 Grant Avenue) is currently occupied by a high-volume Starbucks store with a recently negotiated long term lease extension. There is also a beautiful two level retail space located at 363 Grant Avenue, ideal for luxury retail shops, which was most recently occupied by Serge Sorokko Gallery and previously by American Apparel and West Coast Leather. This space is currently vacant, however the property is being sold with a 3 year NNN rent guarantee in place. The building is flexible and well suited for a variety of buyers, such as legacy investors, exchangers, syndicators, developers, hotel operators, and retail owner/users. The building has been seismically retrofitted. See attached Lease Summary.

FOR SALE DETAILS

PRICE

$15,000,000 USD

PRICE/SF

$720 USD /SF

# OF UNITS

55

PRICE/UNIT

$272,727

CAP RATE

7.7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Mixed Use Hotel/Retail Trophy Corner Building

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

4

YEAR BUILT

1907

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.1 AC

LAND SF

4,356 SF

ZONING

C-3-R, San Francisco

APN/PARCEL ID

0286-001

ASK ABOUT THIS PROPERTY

Daniel McGueColdwell Banker Commercial RealtyMore Info
415-229-1245

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Daniel McGueColdwell Banker Commercial RealtyMore Info
415-229-1245

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.