1400 Pacific Ave 5 Unit Apartment Building $2,395,000 ($479,000/Unit) 5.30% Cap Rate San Francisco, CA 94109

Northpoint Shopping Center offers a rare opportunity to acquire a prominent retail asset in the heart of San Francisco’s world-renowned Fisherman’s Wharf district. Situated at 350 Bay Street, the property is surrounded by one of the city’s strongest year-round consumer ecosystems, fueled by consistent tourism, dense nearby residential neighborhoods, and immediate adjacency to major attractions including Pier 39, Ghirardelli Square, and the Embarcadero waterfront. This irreplaceable location provides investors with enduring demand drivers and long-term income stability.
The center is anchored by a new Grocery Outlet, slated to open in Summer 2026, positioning the property for an uplift in daily foot traffic and enhancing the site’s fundamentals. The co-tenancy mix features essential household services, neighborhood retail, food operators, and boutique service uses, ensuring balanced traffic throughout the week. The presence of a high performing parking structure offering 348 stalls, operated by UnitedSF Parking, adds significant value in an area with limited parking supply and high visitor turnover.
A former Walgreens box, multiple small-format retail spaces, and several mid-sized suites create leasing flexibility for future value-add strategies. Investors can shape tenant mix to optimize revenue, reposition space, or capitalize on demand from national brands seeking a high-visibility presence in Fisherman’s Wharf.
The property benefits from exceptional connectivity, with cable car lines, major hotel clusters, and ongoing transit enhancements such as the Central Subway extension supporting constant pedestrian flow. Nearby neighborhoods, from Russian Hill to North Beach to the Financial District, contribute both affluent residents and a robust workforce. Combined with San Francisco’s strong economic productivity and high household income levels, the surrounding trade area reinforces the asset’s long-term investment appeal.
Taken together, Northpoint Shopping Center represents a strategic opportunity to secure a trophy-location retail asset with strong fundamentals, upcoming anchor activation, and multiple pathways for income growth.