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515 Spruce St 4,403 SF Office Building San Francisco, CA 94118 For Sale
Investment Highlights
- 100% leased to the Regents of the University of California through December 2031, providing exceptional tenant security.
- Located in San Francisco’s Laurel Heights neighborhood, offering proximity to UCSF and major city hospitals.
- Zoning supports neighborhood commercial use, allowing long-term stability and potential adaptability.
- Fully renovated medical office building with seismic upgrades for improved resilience.
- Mission-critical tenancy: UCSF Department of Dermatology has occupied the property for more than 40 years.
Executive Summary
515 Spruce Street offers a rare opportunity to acquire a recently renovated boutique medical office building in the highly desirable Laurel Heights neighborhood of San Francisco. This single-tenant property is fully leased to the Regents of the University of California, operating as UCSF’s Department of Dermatology, ensuring long-term secure cash flow through December 31, 2031.
The 4,403-square-foot building benefits from historical significance and functional upgrades, including a recent renovation with seismic improvements. Positioned in a mission-critical location for UCSF, the tenant has maintained presence for 40 years, demonstrating strong commitment to the site. Beyond its medical specialization, the property enjoys excellent commuter accessibility, surrounded by affluent demographics and near Laurel Village retail amenities.
With consistent occupancy by an investment-grade tenant, historic identity, and neighborhood infill positioning, 515 Spruce Street presents a compelling long-term investment opportunity in one of San Francisco’s most stable and prestigious medical office markets.
The 4,403-square-foot building benefits from historical significance and functional upgrades, including a recent renovation with seismic improvements. Positioned in a mission-critical location for UCSF, the tenant has maintained presence for 40 years, demonstrating strong commitment to the site. Beyond its medical specialization, the property enjoys excellent commuter accessibility, surrounded by affluent demographics and near Laurel Village retail amenities.
With consistent occupancy by an investment-grade tenant, historic identity, and neighborhood infill positioning, 515 Spruce Street presents a compelling long-term investment opportunity in one of San Francisco’s most stable and prestigious medical office markets.
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Medical
Building Size
4,403 SF
Building Class
C
Year Built
1952
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,403 SF
Building FAR
0.58
Lot Size
0.17 AC
Zoning
NC-S - Neighborhood Commercial, Shopping Center
Parking
7 Spaces (1.59 Spaces per 1,000 SF Leased)
Amenities
- Wheelchair Accessible
1 1
Exceptionally walkable
90/100
Moderately drivable
60/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 1036-002 | Improvements Assessment | $600,197 |
| Land Assessment | $326,105 | Total Assessment | $926,302 |
Property Taxes
Parcel Number
1036-002
Land Assessment
$326,105
Improvements Assessment
$600,197
Total Assessment
$926,302
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515 Spruce St
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