131 Franklin St

San Francisco, CA, 94102, United States

Property ID: #239886 // COMMERCIAL
9,850 ft²
0.06 acres
- beds
- baths
  • Address
    131 Franklin St
  • City
    San Francisco
  • State
    CA
  • Zip
    94102
  • Country
    United States
  • County
    San Francisco
  • Property Type
    Commercial
  • Additional Types
    Business, Commercial, Office, Retail
  • Parcel Number
    0833-002
  • Year Built
    1909
  • Lot Size
    0.06 Acres
  • Square Feet
    9,850
PROPERTY INFORMATION

HISTORIC DOWNTOWN RETAIL PROPERTY WITH RESIDENTIAL DEVELOPMENT OPPORTUNITY.

Rare San Francisco gem with vertical development opportunity! Desirable location on hard corner just steps from SOMA District and “the HUB.”

There is international appeal for this historic building (Purchase of this property could qualify foreign executives for a U.S. green card in less than a year (including China), and new owners have the opportunity to develop additional multifamily on top of 75% of the existing retail/office space. Preliminary planning with San Francisco city officials have indicated it would encourage the addition of residential units. Many upgrades contribute to the building’s current modern take – preserved brick walls and 16-foot ceilings on the third floor create a loft space perfect for corporate meetings or small venue for entertaining and get-togethers. The seller has been an excellent steward to this property.

HVAC upgrades were made to service each floor individually and there is a brand new sophisticated programmable security system with electronic locking and 1,200 lb locks. The system has motion, sound and camera detectors. The hardwood sub-floor on all 3 floors is original 1909 construction, with 4 inch thick mahogany, refinished in 2009. In addition to additional structural support, the building’s basement has been upgraded with a new server room, file room and vault.

The property also offers an opportunity for high profile signage. 131 Franklin keeps good company: The immediate area contains tech firms such as Twitter, Zendesk, Dolby, One Kings Lane, Uber and WeWork. The property is well supported by MUNI and B.A.R.T with direct access to all parts of San Francisco, Oakland, Silicon Valley, the East Bay and all the airports in the area. . . Also within walking distance is the newly constructed SF Jazz Center, the world famous Davies Symphony Hall, SF Ballet, the War Memorial Opera House, Bill Graham Civic Auditorium and the Orpheum Theater. Across the street is the exclusive French American and Chinese American School and the San Francisco Conservatory of music.

It’s a rare opportunity that a well situated commercial building with tremendous upside potential comes to market in San Francisco.

DISCLAIMERS & AGENCY DISCLOSURE
  • Buyer's Fee: 0%
  • Earnest Money: Total earnest money to be negotiated at the time of offer and to be agreed upon in writing in a Purchase Contract by the Buyer and Seller.
  • Brokers and Agents are fully protected and encouraged to participate.
  • RealtyHive & Micoley.com, LLC are licensed auction firms performing auction and auction marketing services as part of this transaction.

Read More...

Property Buying Tips

So you’ve decided to buy! Congrats, that’s great!
Here are some great tips to get you on your way to ownership.

1. Determine Your Budget & Save

Take into account the average down-payment is 10%. 10% is not required, but the loan amount and approval will fluctuate depending on the percentage you put down. Determine how much you can pay for your monthly mortgage. Outline your expenses and be honest with yourself about what you can reasonably afford. Also, ask yourself what happens if you lose your job? Or if you’re part of a couple, what happens if your spouse loses their job?

2. Secure a Loan

Once you’ve got your budget in order, it’s time to go shopping for a loan. Visit multiple lenders to weigh your options and find the best deal. Each bank will determine if you are eligible and at what interest rate you will be charged. based on your financial situation. Make sure to ask questions such as what the breakdown of the monthly payments will be once you have made your down payment, how the loan term will affect your monthly payments, whether or not the interest rate is fixed or variable, if home insurance or any other services are included within the home purchase amount.

3. Be Prepared

Have a current Pre-qualification letter and good faith deposit funds available. Technology makes it easier than ever for your real estate agent to draft and transmit a purchase offer back and forth for your signatures. But, this is only one piece of the puzzle. You also need a current pre-qualification letter, and ready access to your good faith deposit. This can be obtained from the bank and confirms their willingness to give you a loan. Most sellers won’t accept a letter that’s more than three months old. If your home search lasts for more than three months, you’ll need an updated pre-qualification letter. When you submit your offer, it must include a check for the good faith deposit. Generally, good faith is at least 3% of the purchase price. This check will be deposited into an escrow account within three days of an accepted offer.

4. Stay Informed

Always make sure to do your homework and learn the history on a property you are interested in. Does the neighborhood have a high crime rate or a new highway/major road being constructed nearby that could be affecting the price? Is the heating, plumbing, roofing and window work in good condition? Those hidden problems can lead to major expenses in the future - post purchase. Ask your realtor for a property condition report and and see if the home comes pre-inspected. If not, we highly recommended to get and inspection before the purchase is complete. Being “in-the-know” and taking the extra steps can save you money and headaches in the long run.

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Online Only Event/Auction:
December 18th 10:00am - 4:00pm CST
List Price:
$10,750,000.00
Sugg. Opening Bid:
$9,750,000.00

What is a Pre-Event Offer? This property can be purchased prior to the event's start date. If accepted, this property will be removed from the upcoming auction. Benefits to purchasing prior to event.

Want to wait until the event day to bid?
Click here to register.

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Agent Contact & Showing Info
  • Cheryl A. Lane
  • License # 01476079
Financing

Please contact your local lender