50 Cosmo Pl 8,783 SF Specialty Building Offered at $3,051,158 CAD in San Francisco, CA 94109
INVESTMENT HIGHLIGHTS
- Rare Opportunity to acquire a centrally located, unencumbered parking facility with a successful long-term operating history.
- 78 hotels (over 11,500 keys) within three blocks of the site.
- Long-term upside through the development of up to 79 new residential units.
- Excellent Union Square location, surrounded by demand drivers, including large hotels, iconic restaurants, and clubs.
- 2.5 Blocks to world-renowned Union Square, San Francisco’s premier shopping and dining destination.
EXECUTIVE SUMMARY
Newmark is pleased to offer for sale the fee simple interest in 50 Cosmo Place, a ± 8,783 SF parking lot in downtown San Francisco. 50 Cosmo has been a highly successful parking facility for more than 40 years and is surrounded by some of the most prominent hotels, clubs and restaurants in the City.
The lease with the current parking operator expires in June, 2024 with no options to extend, providing the next owner with the option to operate the parking lot or enter into a new parking agreement at market terms.
The 50 Cosmo lot is next door to Le Colonial, a landmark San Francisco restaurant, one block from the Bohemian Club and Olympic Club and a short 5-minute walk to Union Square, the City’s premier shopping destination.This core infill location promises a steady, diverse parking customer base. Additionally, the parcel is zoned for high density residential and commercial uses with an 80’ height limit, providing long-term development potential upside.
PLEASE VISIT OUR WEBSITE FOR MORE INFORMATION:
https://properties.nmrk.com/50-cosmo-place-san-francisco-50-cosmo-place-sale
The lease with the current parking operator expires in June, 2024 with no options to extend, providing the next owner with the option to operate the parking lot or enter into a new parking agreement at market terms.
The 50 Cosmo lot is next door to Le Colonial, a landmark San Francisco restaurant, one block from the Bohemian Club and Olympic Club and a short 5-minute walk to Union Square, the City’s premier shopping destination.This core infill location promises a steady, diverse parking customer base. Additionally, the parcel is zoned for high density residential and commercial uses with an 80’ height limit, providing long-term development potential upside.
PLEASE VISIT OUR WEBSITE FOR MORE INFORMATION:
https://properties.nmrk.com/50-cosmo-place-san-francisco-50-cosmo-place-sale
DATA ROOM Click Here to Access
- Offering Memorandum
PROPERTY FACTS
| Price | $3,051,158 CAD |
| Price Per SF | $347.39 CAD |
| Sale Type | Investment or Owner User |
| Property Type | Specialty |
| Property Subtype | Parking Lot |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 8,783 SF |
| No. Stories | 1 |
| Year Built | 1950 |
| Tenancy | Single |
| Parking Ratio | 7.89/1,000 SF |
| Zoning | RC-4 - RC-4 - High Density Residential/Commercial |
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 0298-038 | Improvements Assessment | $4,309 CAD |
| Land Assessment | $3,083,366 CAD | Total Assessment | $3,087,674 CAD |
