Landmark Mixed-Use Property For Sale

$8,900,000

1501-1519 Polk Street, San Francisco, CA 94109

For Sale

Mixed Use

Active

Last Updated: 04/08/2025

Details:

Cap Rate: 6.64%

NOI: $591,381

Building Size: 23,890 sqft

Lot Area: 0.16 acres

Occupancy: 96%

Units: 34

Year Built: 1914

Price Per Sqft: $389.28

Price Per Unit: $281,818

Offered by Broker

Angelo Baglieri

First Vice President

Marcus & Millichap

#01996324

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Clinton Textor

Vice President Investments

Marcus & Millichap

#CA: 01318639

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Highlights:

Home to the world famous Swan Oyster Depot since 1912
6.64% Cap in Nob Hill on the border of Pacific Heights
Excellent Retail Tenant History
29 Apartments have Excellent Upside in Rents
Over $110,000 in Electrical Upgrades Coming in January 2025 - New Main Switches and SF Fire Horn Ordinance Compliance

Description:

Marcus & Millichap presents a rare opportunity to acquire 1501-1519 Polk Street, a landmark mixed-use property nestled in San Francisco's prestigious Nob Hill neighborhood. Gracing the iconic California Street Cable Car line, this 34-unit building, offered for the first time in over four decades, seamlessly blends historical charm with modern convenience. Anchored by the legendary Swan Oyster Depot, a culinary institution since 1912, the property enjoys unparalleled visibility and a vibrant tenant mix. Above the bustling retail spaces, 29 residential units – a mix of studios and one-bedrooms – cater to the city's discerning residents. With recent capital improvements, including a new roof (2018) and upcoming electrical upgrades, this legacy property offers both immediate stability and significant long term value appreciation potential.