Mixed-Use Hotel Property in Nob Hill

Highlights:

• Significant (214%) Potential Upside
• 43 Units in Total - 40 Hotel Units and 3 Retail Units. Hotel Units Master Leased to “Shirley Hotels”, 9 of Which are Licensed Tourist Units
• Highly Trafficked Commercial Corridor

Description:

1538-1544 Polk Street is a mixed-use (hotel + retail) property in the Nob Hill/Polk Gulch neighborhood of San Francisco.

The three-story property features three (3) retail units on the ground floor and a 40-unit SRO/hotel above that is master leased to an operator, "Shirley Hotels''. Of the 40 rooms, 21 are SRO units, 7 are SRO with partial baths, 9 are tourist/transient and 3 are for manager use. The SRO units without bathrooms share 3 common area bathrooms. Two of three retail units are occupied by a tuxedo retailer and a foot massage service. The 40-room hotel is currently month-month. A savvy investor may renegotiate the lease or operate the hotel to significantly increase cash flow.

The property is in a central location of the Polk Street commercial corridor in Nob Hill. The street is famous for its historic architecture, Michelin-rated cuisine, and abundant retail amenities. It is an exceptional location for this type of property due to its walkability and easy access to public transit.

The investment appeal of this property is its location in San Francisco's most desirable neighborhood and its significant upside potential (214%).

Best known for its luxury hotels, like the Fairmont Hotel and the Intercontinental, and for its historic mansions, Nob Hill is the pinnacle of elegance and class in Downtown San Francisco. The neighborhood is conveniently located within a short walk of several other significant submarkets, including the North Financial District to the east, Pacific Heights/Polk Gulch/Van Ness to the west, and Russian Hill to the North.

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