2524 & 2532 Lombard Street - LoopNet · 2020. 6. 2. · 2524 Lombard Street is a total of...
Transcript of 2524 & 2532 Lombard Street - LoopNet · 2020. 6. 2. · 2524 Lombard Street is a total of...
O F F E R I N G M E M O R A N D U M
2524 & 2532 Lombard StreetFo r S a l e | I n ve s t m e n t O pp o r t u n i t y | M a r i n a /C ow H o l l ow | S a n Fra n c i s co
2 2 5 2 4 & 2 5 3 2 L O M B A R D S T R E E T
P L E A S E C A L L F O R P R I C I N G & A N A L Y S I S
O F F E R I N G M E M O R A N D U M 3
Property Overview
Property SummaryColliers International, as Exclusive Advisor to the Seller, is pleased to present the opportunity to acquire 2524 Lombard Street & 2532 Lombard Street (“the Property”), a prominent mixed-use building, along with a contiguous parking lot/development site, located at the con!uence of the Marina, Cow Hollow, and the Presidio, three of the most highly desirable neighborhoods San Francisco.
2524 Lombard Street is a total of approximately 20,000sf, consisting of a 10k/sf ground level commercial space (delivered vacant), along with 10k/sf at the 2nd level, currently a 47-room SRO (single room occupancy) hotel, with approximately 25 vacant units (as of 4/1/20).
2532 Lombard Street is currently a parking lot consisting of approximately 6,875 sf, delivered free and clear of any leasehold obligations. The parcel has a 40’ height allowance, theoretically providing Golden Gate Bridge, Bay and Alcatraz views.
Surrounded by high-end residential, retail, restaurants, and other amenities like the Palace of Fine Arts and Chrissy Field, the Property o"ers a fantastic value-add and ground-up development project. Located at the heart of the coveted northern neighborhoods of the City, and just a short drive from Marin County, 2524/2532 Lombard represents is a truly unique opportunity.
Address: 2524 & 2532 Lombard StreetProduct Type: Hotels, Retail, & Vacant Lot Building Area: ±19,250 (2524 Lombard)
Year Built: 1913
Land Area:± 10,312 sq. ft. (2524 Lombard)± 6,875 sq. ft. (2532 Lombard)
APN:0935-003 (2524 Lombard)0935-004 (2532 Lombard)
Zoning: NC3 — Neighborhood Commercial, Moderate Scale
Permitted Uses Residential & RetailHeight Limit: 40 ft.
4 2 5 2 4 & 2 5 3 2 L O M B A R D S T R E E T
Site Overview
O F F E R I N G M E M O R A N D U M 5
Location
MARINA
PRES
IDIO
COW HOLLOW
RUSSIANHILL
PACIFIC HEIGHTS
LOWER PACIFIC HEIGHTS
2524-2532 Lombard St.
6 2 5 2 4 & 2 5 3 2 L O M B A R D S T R E E T
Co-Tenancy
2524-2532 Lombard St.
O F F E R I N G M E M O R A N D U M 7
Demographics2019 1 mile 2 mile 3 mile
2019 Total Population 46,059 236,521 416,200
2019 Households 25,591 124,308 213,889
2019 Home Value: Median $2,000,001 $1,494,183 $1,443,186
Median Age 37.4 38.5 39.3
College or Advanced Degree 83.2% 66.5% 65.9%
Married 39.7% 34.7% 35.9%
Not Married 60.3% 61.8% 64.1%
2019 Median Household Income $170,604 $105,987 $110,110
2024 Projected Median Income $187,908 $125,209 $129,881
HH Income $200,000 or more 42.8% 29.7% 31.5%
Average Home Value $1,815,836 $1,574,020 $1,533,268
Owner Occupied 27.7% 19.2% 22.2%
Renter Occupied 72.3% 80.8% 77.8%
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COLLIERS INTERNATIONAL101 Second Street, 11th Flr.San Francisco, CA 94105www.colliers.com
Peter MikacichSenior Vice President415 288 [email protected]. 01133104
Shaun BloomquistVice President415 288 [email protected]. 01501651
Kevin KlinkVice President408 493 [email protected]. 01840238
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