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11/21/22
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Here’s news of a unique property in San Francisco’s Financial District that’s been put on the market. Located at 415 Sansome St, the 10.3k sf building sits on a 5k sf lot and is fully leased to a restaurant/bar and a medical office. It is listed for $5.8 mil.
This historic, three-story, corner building, stands at Commercial and Sansome Streets. The single-story property provides an investor with an opportunity for immediate rental income coupled with long term rental or development upside.
The property’s impressive entrance stands nearly 20 feet tall with a double front door graced by sophisticated metal work and a pair of Roman columns to each side. Across from the Historic Federal Reserve Bank Building (Bentley Reserve), the building was originally home to the Yokohama Specie Bank, designed by noted West Coast architect William Lee Woollett.
The popular Barrel Room restaurant, bar and tasting room occupies most of the property. Occupying two levels, its large, open-air dining room and bar come with high ceilings and plentiful light from the skylights above. A separate tasting room and retail shop is found near the entrance. Ensconced in the lower level is a large, cavernous space with a club-like atmosphere and a full bar.
Sansome Dental occupies the remaining space. In business for nearly three decades, the lease is triple-net and the business provides a complete suite of dental services.
Built in 1908, the Class B asset generates $212.6k in NOI. It is being marketed by Steven Caravelli with Coldwell Banker Realty – NorCal.
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