San Francisco, CA - Retail Condo

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a NNN, ground floor retail investment property located in San Francisco, California. The tenant, Corgi Insurance Services, Inc., signed a new 10 year lease with 2 (2-year) options to extend. The lease features 3% annual rental increases throughout the initial term and each option period, providing a hedge against inflation. The lease is NNN with minimal landlord responsibilities making it an ideal, low-management investment opportunity for a passive investor. Corgi Café is a retail extension of Corgi Insurance, a rapidly growing AI-native insurance technology company that recently achieved a $5 billion valuation (Forbes).

The subject property offers excellent visibility at the base of a four-story, 18-unit apartment building in San Francisco’s North Beach neighborhood, with additional retail tenants next door. Columbus Avenue is the primary corridor connecting the Financial District to Fisherman’s Wharf through the heart of one of San Francisco’s most popular and highest-income neighborhoods. North Beach sits at the intersection of Russian Hill to the west, Telegraph Hill to the east, and Fisherman’s Wharf to the north, placing the property within walking distance of some of the city’s most visited destinations. The neighborhood boasts a Walk Score of 99, among the most walkable in San Francisco, and is a gateway to the Financial District. The neighborhood is home to a dense concentration of young professionals between the ages of 25 to 44, boasting among the highest incomes of any neighborhood in San Francisco. Average household incomes within 1, 3, and 5-mile radii are $196,206 / $209,765 / $224,342 respectively. Corgi Cafe’s 24/7 format is purpose-built for founders, engineers, and tech workers who operate outside conventional hours, directly catered toward North Beach’s population. The immediate area is further supported by a dense, urban residential population of 79,720 residents within 1 mile and 368,493 residents within 3 miles, providing an unmatched consumer base within one of the highest-income metro areas in the world.

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Listing ID: a28TP000003W5VtYAK