SOMACOMMERCIAL 1065 - LoopNet...JACK DOHERTY MATT CURRIE JAKE CARSON 415.543.9403 415.543.9402...

1065SOMACOMMERCIALBUILDINGJ A C K D O H E R T Y M A T T C U R R I E J A K E C A R S O N

415.543.9403 415.543.9402 [email protected] [email protected] [email protected]

1 0 6 5 F O L S O M S T R E E T , S A N F R A N C I S C O , C A

F O R S A L E - 1 0 6 5 F O L S O M S T R E E T

2 2 0 M O N T G O M E R Y S T R E E T , S U I T E 6 5 0 | S A N F R A N C I S C O , C A 9 4 1 0 4 | 4 1 5 . 5 4 3 . 9 4 0 0 | C M C O M M E R C I A L I N C . C O M

J A C K D O H E R T Y M A T T C U R R I E J A K E C A R S O N



CM COMMERCIAL IS PLEASED TO OFFER 1061-1065 FOLSOM STREET, A 9,961 SQ. FT. BOUTIQUE OFFICE BUILDING ADJACENT TO VICTORIAMANALO DRAVES PARK ALONG THE FOLSOM STREET CORRIDOR AND THE RAPIDLY DEVELOPING CENTRAL SOMA NEIGHBORHOOD.THE PROPERTY NEIGHBORS VICTORIA MANALO DRAVES PARK AND IS CLOSE TO MASS TRANSIT (BART, CALTRAIN) AND OFFERS EASYACCESS TO HIGHWAY 101 & 280. THE PROPERTY WILL BENEFIT FROM THE RECENTLY PASSED CENTRAL SOMA PLAN ANDTHE FOLSOM-HOWARD STREETSCAPE PROJECT.

PROPERTY OVERVIEW

• PRICE: $7,500,000 ($753 PSF)

• SIZE: 9,961 Square FeetGround Floor & Mezzanine: 5,221 SF - High Ceiling Creative Flex Space. Delivered Vacant Upon COE.Second Floor: 4,740 SF - Creative Office Space. Leased Through July 31, 2021 ($55.00 IG/YR)

• ZONING: SOMA NCT

• APN: 3754-041

• YEAR BUILT: 1923

• POWER: 120/208 volt, 200 amp, 3 phase

10651 0 6 5 F O L S O M S T R E E T , S A N F R A N C I S C O , C A 9 4 1 0 3

SOMA BOUTIQUE BUILDING F O R S A L E




SPACE DESCRIPTION

GROUND FLOOR- 20 foot ceilings- Large windows- Two (2) restrooms + shower- Kitchenette- Motorized roll up door on alley side (Sherman Street)- Great storefront along Folsom Street- Unique retro building blade signage

SECOND FLOOR- Open plan w four (4) glass lined meeting rooms- Elevator service- Kitchen w/ dishwasher, refrigerator, and wine fridge- Two (2) restrooms + shower- Full HVAC throughout- Exposed bow truss timber ceiling- Roof access






1065G R O U N D F L O O R R E N D E R I N G S & P H O T O S





1065S E C O N D F L O O R





Ground Floor Plan

2nd Floor Plan

1065F L O O R P L A N S





LOCATION HIGHLIGHTS

1065 Folsom is positioned to take advantage of both the Folsom-HowardStreetscape Project , which will make SOMA more livable by making it safer andmore pleasant to walk, bike, shop, take transit and live along Folsom andHoward streets and the Central SOMA Plan, which is planned to deliver nearly16 million square feet for new housing and jobs, over $2B in public benefits,including: 33 percent affordable housing, $500M for transit, substantialimprovements to open space, streets, and environmental sustainability, andfunding for cultural preservation and community services.

The property is also well positioned to take advantage of the future SOMAdevelopments, such as the Flower Mart, Tennis Club, 5M, and Tishman SpeyerCreamery Development Projects.

1065N E I G H B O R H O O D M A P





INVESTMENT OVERVIEW

Price $7,500,000

Price per SF $752.94

Net Operating Income $371,200

CAP Rate 5.0%

OPERATING DATA

Gross Scheduled Income $547,855

Other Income -

Total Scheduled Income $547,855

Vacancy Cost $27,392

Gross Income $520,462

Operating Expenses $149,262


Pre-Tax Cash Flow $371,200






INCOME SUMMARY

Gross Income $520,462

EXPENSE SUMMARY (ESTIMATES)

Property Taxes $87,000Property Insurance $13,000Prop C $17,500Elevator $2,512Repairs & Maintenance $10,000Property Management $14,250Misc. & Reserves $5,000

Gross Expenses $149,262




SOMACOMMERCIAL 1065 - LoopNet...JACK DOHERTY MATT CURRIE JAKE CARSON 415.543.9403 415.543.9402...

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