Valencia Street has been a buzz lately with lots of new construction. A few commercial real estate developments are in progress and several?new restaurants & cafes have recently opened with more on the way. Below is a quick review of the latest developments.
299 Valencia Street was completed during the 1st quarter of 2012 and shortly thereafter its 36 condominium residences quickly sold out. This property also has three ground floor commercial condo retail spaces. Two of the commercial condos have sold and the last one is on the market for sale. This space totals 1,506 square feet with an asking price of $829,000. For small business owner?s, purchasing a commercial condo is a great alternative to paying the Mission District?s high rent. With an SBA loan, you just need 10% down and with low interest rates available your mortgage payment will easily be less than a comparable rental space. We just helped a client purchase a commercial condo on Mission Street using SBA financing and the cost savings were dramatic. If you are interested in purchasing a commercial condo and would like more information, feel free to contact us.
1880 Mission Street is currently under construction. Developed by Avant Housing with CalPERS money, this building will include 202 apartments, 7,500 square feet of ground floor retail space, 155 below ground parking spaces, and 1:1 ratio for bicycle parking.
411 Valencia Street is currently under construction. When completed this building will include 16 condominiums with 1,320 square feet of ground floor retail space.
561 Valencia Street is now home to the Bar Tartine Sandwich Shop. Located immediately adjacent to the acclaimed Bar Tartine restaurant, the sandwich shop offers a variety of open-faced sandwiches on Scandinavian-style breads, soups, and other baked goods. Bar Tartine Sandwich Shop opened during August.
581 Valencia Street will soon see a change-over in restaurants. Urban Burger is moving out and The Little Chihuahua Mexican Restaurant is moving in. This will be the third location for The Little Chihuahua. It?s other restaurants are at 292 Divisadero Street and 4123 24th Street.
599 Valencia Street is now home to?Public Bike + Gear (it looks like they cut a deal to occupy a portion of Harrington?s furniture shop). Public Bike + Gear was founded in San Francisco. This company specializes in the sale and rental of European-styled bikes. The Valencia Street shop is their third location in the Bay Area.
665 Valencia Street will soon see another restaurant swap. NY Buffalo Wings moved out and MAU Restaurant is moving in. MAU is an acronym for asia, modern, urban. Construction of their interior improvements has commenced.
The ground floor of 700 Valencia Street is now home to Farina Pizza Cucina Italiana. This is Farina?s second restaurant in the Mission District. Its other wildly-popular restaurant serving authentic northern Italian dishes is located at 18th & Guerrero. Farina Pizza Cucina Italiana will open during August.
740-746 Valencia Street has been radically transformed during the last two years. Formerly occupied by John?s Jaguar Automotive, this brick building now houses The Abott?s Cellar (a restaurant serving California cuisine paired with craft beer and wine), Craftsman and Wolves (a pastry shop and cafe), and Dandelion Chocolate (a bean-to-bar chocolate factory and cafe). The pastry shop opened during July and the restaurant opened during August. The chocolate factory is anticipated to open soon.
741 Valencia Street is home to Tacolicious and Mosto. Tacolicious is?a Mexican restaurant serving local, sustainable, organic dishes. Mosto is a tequila bar.
777 Valencia Street (the former New College building) is going through approval process to transform this building into two full service restaurants/bars and a jazz club. The restaurants are tentatively named The Chapel and Second Line Caf?. The jazz club, named Preservation Hall West will serve as the new West Coast venue for the Preservation Hall Jazz Band. The original Preservation Hall Jazz Club is located in New Orleans? French Quarter and was established in 1961 by Allen and Sandra Jaffe. The Preservation Hall Jazz Club is known as both the home of Traditional New Orleans Jazz and the headquarters of the Preservation Hall Jazz Band.
3500 19th Street (at Valencia) is currently under construction. Upon completion this building will house 17 condominiums and 2,900 square feet of ground floor retail space.
Over on Mission Street between 21st and 22nd Street, the New Mission Theater, is slated to become the Alamo Drafthouse. The owner?s of the drafthouse are planning a full historic renovation of the theater. Alamo Drafthouse San Francisco will be their second location. Their other theater is in Austin, Texas.
AVAILABLE SPACES FOR LEASE OR SALE
Two spaces at 810-820 Valencia Street are available for rent. 810 Valencia Street is roughly 1,650 square feet and 820 Valencia is about 1,850 square feet. Both spaces were previously occupied by Mission Council for medical office use. The owner of the building is seeking to convert these spaces to retail use. The changeover from medical use to retail will require significant construction/tenant improvements dollars. The owner wants to find one or two tenants to to help fund the conversion. The target asking rental rate for each space is roughly $5,000 per month.
560 Valencia Street (the former Z Barn Furniture Store) is available for sale or lease. This space totals roughly 5,000 square feet. The list price is $3M. Lease rate is negotiable.
657 Valencia Street is available for sale or lease. This building is roughly 2,000 square feet. The sale and/or lease price is negotiable. Occupancy will require the tenant to fully re-build the space.
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Fore more information on any of these available spaces, feel free to give us a call at (415) 829-2996.
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