Investment Highlights
Vacant Downtown Ground Floor Bar With On-Site Consumption Type 48 Liquor License And (1) Two-Bed/One-Bath Residential Flat.
SBA Financing Available With As Low As 10% Down Payment.
Over 1,500 Market Rate Rental Units Within Walking Distance.
Opportunity To Own And Operate A Bar, One Of Only Three In Downtown South San Francisco.
Plans Available To Convert Bar To A Restaurant And Add 899 SqFt
Large Backyard Patio and Four + Parking Spaces
Executive Summary
Compass Commercial is pleased to offer 249 Grand Avenue for sale or lease, a prime mixed-used building in the heart of Downtown South San Francisco. The area has seen a massive influx of new construction in the last few years, resulting in the addition of over 1,500+ market rate units within walking distance of the subject property. The property consists of a vacant ground floor bar, formerly known as "The Topper", one two-bedroom/one-bathroom residential flat on the 2nd floor, and four parking spaces. There is an active type 48 on-site consumption liquor license available for sale for $200,000. The building is well suited for an owner occupant or an investor. The bar consists of more than 50% of the property area, therefore, an owner-occupant may qualify for an Small Business Administration (SBA) financed loan to acquire the property with a down payment as low as 10% of the purchase price. The property features double frontage on both Grand Avenue and 3rd Lane and is located in the Grand Avenue Core (GAC) zoning district which allows for a maximum building height of 65 feet, and encourages high density multifamily development above the ground floor retail. Currently, the building to lot size ratio is 35% which provides the opportunity to re-development, add ADUs, or create an attractive outdoor patio for patrons to enjoy. Additionally, current ownership has commissioned architectural plans to add 899 square feet to the ground floor and convert the existing bar to a restaurant.South San Francisco stands as an economic powerhouse nestled strategically in the Bay Area. Known as the "Birthplace of Biotechnology" the city boasts top-tier employers such as Genentech, Amgen, and other leading companies, collectively providing over 30,000 jobs. This vibrant and growing job market, diversified across industries, fuels the city's allure as an employment epicenter. It's proximity to both San Francisco and San Francisco International Airport amplifies its appeal. The city has witnessed a surge in real estate development, mostly centered around downtown, including the addition of 1,500 new apartment units in the past year.
