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555 Jackson St - 555 Jackson Street Garage 65,985 SF Specialty Building Offered at $9,500,000 at a 5.56% Cap Rate in San Francisco, CA 94133
EXECUTIVE SUMMARY
https://properties.nmrk.com/555-jackson-street-san-francisco-sale
Newmark, as exclusive advisor, is pleased to extend to qualified investors, operators and owner-users the opportunity to acquire the 100% fee simple condominium interest in 555 Jackson Street (the “Property”), a modern subterranean parking garage located in downtown San Francisco. Priced at $9,500,000, this +/-65,985 SF garage was built in 2005, features approximately 149 total parking stalls over four floors and is available for sale for the first time ever.
The Property enjoys an outstanding core downtown location within Jackson Square, one of San Francisco’s most desirable sub-markets due to its outstanding amenities and appeal to office tenants. It is also a short walk to the Financial District and San Francisco’s famed Chinatown is just to the west of 555 Jackson, providing various sources of transient parkers.
The 555 Jackson Street Garage presents an opportunity to acquire an extremely well-located high quality modern garage with in-place income and near-term upside. Currently NN-leased on a month-to-month basis to garage operator AirGarage, providing steady near-term cash flow with limited landlord responsibilities for investors. For owner-user operators, the month-to-month lease allows for maximum flexibility. 555 Jackson has experienced exceptional recent performance; the last six months have seen a ~28% YoY average increase in gross revenues which now average nearly $90K per month The garage is still operating below its pre-pandemic peak, allowing for upside as operations and associated net income continue to improve.
Newmark, as exclusive advisor, is pleased to extend to qualified investors, operators and owner-users the opportunity to acquire the 100% fee simple condominium interest in 555 Jackson Street (the “Property”), a modern subterranean parking garage located in downtown San Francisco. Priced at $9,500,000, this +/-65,985 SF garage was built in 2005, features approximately 149 total parking stalls over four floors and is available for sale for the first time ever.
The Property enjoys an outstanding core downtown location within Jackson Square, one of San Francisco’s most desirable sub-markets due to its outstanding amenities and appeal to office tenants. It is also a short walk to the Financial District and San Francisco’s famed Chinatown is just to the west of 555 Jackson, providing various sources of transient parkers.
The 555 Jackson Street Garage presents an opportunity to acquire an extremely well-located high quality modern garage with in-place income and near-term upside. Currently NN-leased on a month-to-month basis to garage operator AirGarage, providing steady near-term cash flow with limited landlord responsibilities for investors. For owner-user operators, the month-to-month lease allows for maximum flexibility. 555 Jackson has experienced exceptional recent performance; the last six months have seen a ~28% YoY average increase in gross revenues which now average nearly $90K per month The garage is still operating below its pre-pandemic peak, allowing for upside as operations and associated net income continue to improve.
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PROPERTY FACTS
| Price | $9,500,000 | Building Class | C |
| Price Per SF | $143.97 | Lot Size | 0.19 AC |
| Sale Type | Investment or Owner User | Building Size | 65,985 SF |
| Cap Rate | 5.56% | No. Stories | 4 |
| Property Type | Specialty | Year Built | 2005 |
| Property Subtype | Parking Garage | ||
| Zoning | CRNC | ||
| Price | $9,500,000 |
| Price Per SF | $143.97 |
| Sale Type | Investment or Owner User |
| Cap Rate | 5.56% |
| Property Type | Specialty |
| Property Subtype | Parking Garage |
| Building Class | C |
| Lot Size | 0.19 AC |
| Building Size | 65,985 SF |
| No. Stories | 4 |
| Year Built | 2005 |
| Zoning | CRNC |
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Walk Score®
Walker's Paradise (100)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 0195-019 | Improvements Assessment | $4,265,218 |
| Land Assessment | $2,843,478 | Total Assessment | $7,108,696 |
PROPERTY TAXES
Parcel Number
0195-019
Land Assessment
$2,843,478
Improvements Assessment
$4,265,218
Total Assessment
$7,108,696
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555 Jackson St - 555 Jackson Street Garage
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