Description

1040 Columbus Avenue is a large retail property and parking lot located in the North Beach neighborhood of San Francisco. 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, large bar, several dining rooms, 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 will be delivered vacant at the close of escrow. 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.