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34-38 Mason St 12,375 SF 100% Leased Office Building San Francisco, CA 94102 $6,338,205 CAD ($512.18 CAD/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
Executive Summary
34–38 Mason Street, San Francisco
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.
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 (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$559,452
|
$45.21
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$559,452
|
$45.21
|
| Taxes |
$61,872
|
$5.00
|
| Operating Expenses |
$203,225
|
$16.42
|
| Total Expenses |
$265,098
|
$21.42
|
| Net Operating Income |
$294,355
|
$23.79
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $559,452 |
| Annual Per SF | $45.21 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $559,452 |
| Annual Per SF | $45.21 |
| Taxes (CAD) | |
|---|---|
| Annual | $61,872 |
| Annual Per SF | $5.00 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $203,225 |
| Annual Per SF | $16.42 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $265,098 |
| Annual Per SF | $21.42 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $294,355 |
| Annual Per SF | $23.79 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
12,375 SF
Building Class
C
Year Built
1907
Price
$6,338,205 CAD
Price Per SF
$512.18 CAD
Cap Rate
5.72%
NOI
$362,334 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
4 Stories
Typical Floor Size
3,026 SF
Slab To Slab
8’
Building FAR
2.19
Lot Size
0.13 AC
Zoning
C-3-G, San Francisco - Downtown General
Amenities
- 24 Hour Access
- Air Conditioning
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
-
- Health Care and Social Assistance
- -
- -
- -
La mission d'At La Crossroads est d'atteindre les jeunes sans-abri et les jeunes adultes au moment où ils en ont besoin, et de travailler avec eux pour bâtir une vie saine et épanouissante. Notre modèle novateur met l'accent sur les jeunes qui n'ont pas accès aux services traditionnels et qui sont déconnectés de tout type de soutien constant. Nous éliminons les obstacles communs au service en amenant nos conseillers dans la rue et en façonnant nos services de soutien en fonction des besoins de chaque 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 | - | - | - |
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Exceptionally walkable
100/100
Moderately drivable
70/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 0341-007 | Total Assessment | $10,335,945 CAD |
| Land Assessment | $7,235,164 CAD | Annual Taxes | $61,872 CAD ($5.00 CAD/SF) |
| Improvements Assessment | $3,100,781 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
0341-007
Land Assessment
$7,235,164 CAD
Improvements Assessment
$3,100,781 CAD
Total Assessment
$10,335,945 CAD
Annual Taxes
$61,872 CAD ($5.00 CAD/SF)
Tax Year
2025
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34-38 Mason St
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