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34-38 Mason St 12,375 SF 76% Leased Office Building San Francisco, CA 94102 $4,500,000 ($363.64/SF) 5.72% Cap Rate
Investment Highlights
- Prime Downtown Location: AI boom enterprises, Powell BART, Union Square, Moscone Center and Financial District
- C-3-G Zoning, potential for 18-26 unit conversion
- 3rd Floor Vacancy
Executive Summary
Historic Mixed-Use Asset With Exceptional Flexibility
Restaurant • Office • Residential Conversion Potential
Discover a rare opportunity in the heart of Downtown San Francisco. 34–38 Mason Street is a timeless 1907 brick-façade building offering a blend of architectural charm and multiple pathways for value creation. Potential options include a full residential conversion (up to 26 units) or a hybrid concept (18 units plus retail).
Perfectly situated just steps from Powell Street BART, Market Street transit, Union Square, the Financial District, Moscone Center, and surrounded by a growing AI and tech hub, this property offers exceptional connectivity to the city’s premier retail, hospitality, and employment centers.
The ±12,375 sq. ft. building spans three levels and is fully leased, featuring a ground-floor restaurant (beer hall), a second-floor engineering office tenant, and a third floor now leased to Starshot Labs, Inc. at $7,500/month, with a lease in place through May 2027.
Zoned C-3-G (Downtown Commercial General)—one of San Francisco’s most flexible zoning designations—the property is principally permitted for residential conversion, allowing for full redevelopment or a mixed-use repositioning strategy. Expansive windows, open floor plates, historic brick details, and high ceilings make the building ideal for adaptive reuse into modern residential or creative workspace environments.
Whether maintained as a fully leased mixed-use investment or repositioned for future development, 34–38 Mason Street presents a compelling opportunity combining location, income, flexibility, and long-term upside.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$397,200
|
$32.10
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$397,200
|
$32.10
|
| Taxes |
$43,928
|
$3.55
|
| Operating Expenses |
$144,286
|
$11.66
|
| Total Expenses |
$188,214
|
$15.21
|
| Net Operating Income |
$208,986
|
$16.89
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $397,200 |
| Annual Per SF | $32.10 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $397,200 |
| Annual Per SF | $32.10 |
| Taxes | |
|---|---|
| Annual | $43,928 |
| Annual Per SF | $3.55 |
| Operating Expenses | |
|---|---|
| Annual | $144,286 |
| Annual Per SF | $11.66 |
| Total Expenses | |
|---|---|
| Annual | $188,214 |
| Annual Per SF | $15.21 |
| Net Operating Income | |
|---|---|
| Annual | $208,986 |
| Annual Per SF | $16.89 |
Property Facts
Amenities
- 24 Hour Access
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Health Care and Social Assistance
- -
- -
- -
The mission of At The Crossroads is to reach out to homeless youth and young adults at their point of need, and work with them to build healthy and fulfilling lives. Our innovative model focuses on young people who do not access traditional services and are disconnected from any type of consistent support. We remove common barriers to service by bringing our counselors onto the streets and shaping our support services around the needs of each individual client.
- Barbary Coast Consulting
- Professional, Scientific, and Technical Services
- -
- -
- -
- F2g A & E Joint Venture
- Professional, Scientific, and Technical Services
- -
- -
- -
- Good Oel, Inc
- Retailer
- -
- -
- -
- HVMN Inc
- Manufacturing
- -
- -
- -
- Mark Sobell
- Services
- -
- -
- -
- Matt Kumin Law
- Professional, Scientific, and Technical Services
- -
- -
- -
- North Point Production
- Services
- -
- -
- -
- Seasons Productions
- Professional, Scientific, and Technical Services
- -
- -
- -
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
|
Health Care and Social Assistance | - | - | - | ||
| Barbary Coast Consulting | Professional, Scientific, and Technical Services | - | - | - | ||
| F2g A & E Joint Venture | Professional, Scientific, and Technical Services | - | - | - | ||
| Good Oel, Inc | Retailer | - | - | - | ||
| HVMN Inc | Manufacturing | - | - | - | ||
| Mark Sobell | Services | - | - | - | ||
| Matt Kumin Law | Professional, Scientific, and Technical Services | - | - | - | ||
| North Point Production | Services | - | - | - | ||
| Seasons Productions | Professional, Scientific, and Technical Services | - | - | - |
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
Looking for the perfect office space in downtown San Francisco? Look no further! The 3rd floor of 34-38 Mason St is now available for lease, offering a premium workspace in one of the city’s most vibrant and connected locations. Why Choose This Space? ? Spacious & Versatile Layout – Ideal for creative teams, startups, or established businesses looking for an inspiring environment. ? Prime Location – Situated in the heart of San Francisco, with easy access to public transportation, top dining spots, and major business hubs. ? Historic Charm & Modern Comforts – A unique blend of classic architecture with modern amenities to create a productive and stylish workspace. ? Abundant Natural Light – Large windows provide ample sunlight, creating an inviting and energizing atmosphere. ? Move-In Ready – Well-maintained and customizable to fit your business needs. Don't miss this opportunity to elevate your business with a premium office space in an unbeatable location! Contact us today to schedule a tour. ???
| Space | Size | Space Use | Build-Out | Available |
| 3rd Fl-Ste #3 | 3,026 SF | Office | Full Build-Out | Now |
3rd Fl-Ste #3
| Size |
| 3,026 SF |
| Space Use |
| Office |
| Build-Out |
| Full Build-Out |
| Available |
| Now |
3rd Fl-Ste #3
| Size | 3,026 SF |
| Space Use | Office |
| Build-Out | Full Build-Out |
| Available | Now |
Looking for the perfect office space in downtown San Francisco? Look no further! The 3rd floor of 34-38 Mason St is now available for lease, offering a premium workspace in one of the city’s most vibrant and connected locations. Why Choose This Space? ? Spacious & Versatile Layout – Ideal for creative teams, startups, or established businesses looking for an inspiring environment. ? Prime Location – Situated in the heart of San Francisco, with easy access to public transportation, top dining spots, and major business hubs. ? Historic Charm & Modern Comforts – A unique blend of classic architecture with modern amenities to create a productive and stylish workspace. ? Abundant Natural Light – Large windows provide ample sunlight, creating an inviting and energizing atmosphere. ? Move-In Ready – Well-maintained and customizable to fit your business needs. Don't miss this opportunity to elevate your business with a premium office space in an unbeatable location! Contact us today to schedule a tour. ???
Property Taxes
| Parcel Number | 0341-007 | Total Assessment | $7,295,223 |
| Land Assessment | $5,106,658 | Annual Taxes | $43,928 ($3.55/SF) |
| Improvements Assessment | $2,188,565 | Tax Year | 2025 |
Property Taxes
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34-38 Mason St
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