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]
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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
415.543.9403 415.543.9402 [email protected] [email protected] [email protected]
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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
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SOMA BOUTIQUE BUILDING F O R S A L E
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
415.543.9403 415.543.9402 [email protected] [email protected] [email protected]
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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
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SOMA BOUTIQUE BUILDING F O R S A L E
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
415.543.9403 415.543.9402 [email protected] [email protected] [email protected]
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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
SOMA BOUTIQUE BUILDING F O R S A L E
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
415.543.9403 415.543.9402 [email protected] [email protected] [email protected]
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1065S E C O N D F L O O R
SOMA BOUTIQUE BUILDING F O R S A L E
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
415.543.9403 415.543.9402 [email protected] [email protected] [email protected]
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Ground Floor Plan
2nd Floor Plan
1065F L O O R P L A N S
SOMA BOUTIQUE BUILDING F O R S A L E
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
415.543.9403 415.543.9402 [email protected] [email protected] [email protected]
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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
SOMA BOUTIQUE BUILDING F O R S A L E
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
415.543.9403 415.543.9402 [email protected] [email protected] [email protected]
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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
Net Operating Income $371,200
Pre-Tax Cash Flow $371,200
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SOMA BOUTIQUE BUILDING F O R S A L E
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
415.543.9403 415.543.9402 [email protected] [email protected] [email protected]
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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
Net Operating Income $371,200
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SOMA BOUTIQUE BUILDING F O R S A L E
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