Wednesday, May 29, 2013

Mixed-Use Residential and Retail Asset Hits the Market in San Francisco at $13.9 Million


  347-359 Grant Avenute and 507 Bush Street, San Francisco, CA

SAN FRANCISCO, CA,May 29, 2013 – Marcus & Millichap Real Estate Investment Services, the nation’s largest real estate investment services firm, has the exclusive listing for 347-359 Grant Ave./507 Bush St., a mixed-use retail/residential asset featuring two ground-floor retail spaces and 56 residential/SRO units, 16 of which are licensed for tourist occupancy.

Mark Mason
Located in the San Francisco’s Union Square district, the property is listed at $13.9 million.

            Mark Mason, a first vice president investments in the San Francisco office of Marcus & Millichap, is representing the seller, a local Bay Area real estate investment group.

“The property generates a diversity of income from two distinctly different product types and is one of the most attractive investment offerings in the Bay Area,” says Mason. 

“The ground floor is leased to two national retailers, Starbucks Coffee Co. and American Apparel Inc. The residential portion is leased to EF Education First Ltd., the world’s largest international language school,” adds Mason.

            The building is located at the southwest corner of Grant Avenue and Bush Street, two of San Francisco’s major arterials and one of the city’s top foot-traffic intersections.

Union Square district, San Francisco
            The property received extensive renovations from 2002 through 2008. Improvements include a seismic retrofit, upgrades to a high percentage of the plumbing and electrical systems, new HVAC and new fire and life safety systems. 

An ADA-compliant wheelchair lift provides access from the Bush Street entrance to the first floor residential units and meets San Francisco’s ADA requirements.

 For a complete copy of the company’s news release, please contact:

Ben Johnson,
Marketing Director
(925) 953-1736

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