1040 Columbus Ave

Crowned by the iconic Coit Tower atop Telegraph Hill and packed with an amazing history as the home of the progressive “Beat Generation”, North Beach/Telegraph Hill is a charming and lively neighborhood that is a popular tourist and local destination. From the culinary delights and exceptional nightlife of Little Italy along Columbus Street to the calm serenity of a picnic at Washington Square, it has much to offer to satisfy discerning residents, workers, and tourists of San Francisco. North Beach/Telegraph Hill isn’t just a place for recreation and residence, it is also home to a number of prominent companies such as Levi’s Strauss, ABC 7 News, KRON 4, BAR Architects, Vungle Inc. and New Deal Design Inc. The neighborhood is also home to the Exploratorium, a popular science museum attracting more than 800,000 visitors annually, and to the James R. Herman Cruise Terminal, which hosts more than 80 cruise ships and 300,000 passengers annually.1040 Columbus Avenue is a large retail property and parking lot located in the North Beach neighborhood of San Francisco. The property presents an opportunity for an investor to receive a 5% return while preparing for future development. The structure 10,572 SF is located on an 11,918 SF corner lot with frontage on Columbus and Taylor St.Currently occupied by a restaurant and bar, the property has a spacious kitchen, a large bar, several dining rooms, an outdoor patio, and a mezzanine office. The kitchen is equipped with 30’+ hood and prep area. The parking lot can accommodate 11 car parking and has pole signage. The property is in the path of development and is a candidate for high density redevelopment. Zoning permits up to 29 dwelling units or 85 group housing units. Development continues to progress along Columbus Avenue with a neighboring parcel already approved for 56 units. Columbus Avenue is a major thoroughfare lined with retailers and notable destinations and bookended by Fisherman’s Wharf and the Financial District. A busy mix of tourists, residents, and professionals traverse this neighborhood on their way to its many excellent cafes and restaurants. The area’s well know destinations include Washington Square, historic City Lights Bookstore, and St. Peter and Paul Church. The property’s investment appeal is its location in a busy tourist neighborhood, dense population of residents, and its outstanding upside potential through tenant repositioning and development.