Sold


1192 Pacific Avenue

Pleased to announce the sale of 1192 Pacific Avenue, a six-unit mixed-use building in Nob Hill.

At first glance, the income metrics looked strong—but once buyers realized one of the retail tenants was a cannabis operator, interest waned. We received several offers well below more than $500K below our asking price. As any broker will tell you, time on market will likely work against you. But occasionally, it can work for you. After about 30 days, two 3-bedroom units gave notice to vacate, allowing us to project significantly higher proforma rents. This shifted the numbers, and suddenly the deal looked much more attractive.

Those updated projections helped us secure a much stronger price, and both Buyer and Seller walked away thrilled with the outcome.