FOR SALE OR LEASE
Stream Realty Partners is pleased to present For Sale or Lease 532-536 Sutter Street in San Francisco’s premier Union Square District. The historical asset, previously home to San Francisco Playhouse, boasts tremendous demographics; in a 10-mile radius, there are 1,500,000 people with an average household income of $144,000. The property is zoned as Downtown Retail and has limitless potential: retail, art gallery, entertainment, multifamily, hospitality, restaurant, and/or cannabis dispensary.
The building, constructed in 1910 and recently seismically retrofitted, offers three stories and a sizable basement totaling 16,596 SF. This flagship retail location is near the Sutter and Powell intersection and has great access via bus and cable car, both of which are less than 150’ from the front doors. The iconic building has beautiful, exposed brick walls, penthouse office, and rooftop bar potential.
Union Square is a major tourist destination in San Francisco, offering one of the largest collections of department stores, upscale boutiques, and art galleries in the United States. It contains 12,000 hotel rooms, 70,000 daytime employees, and roughly 650 buildings. The tenants include the highest end brands in retail: Gucci, Hermes, Tiffany, Neiman Marcus, etc.
The property has been issued a permit for cannabis retail and/or consumption. Due to sensitive use restrictions, there are only five cannabis retailers in Union Square, none of which have a consumption lounge.
- Rare opportunity to acquire a historic building in Union Square
- Flagship Union Square Location - heavily trafficked location with over 12,000 hotel rooms
- Cannabis Storefront & Consumption Permitted - issued a permit for both storefront and consumption, which would be the best located dispensary in Union Square offering flagship potential
- Iconic Building - Formerly home to San Francisco Playhouse Theater, the beautiful building has exposed brick walls, penthouse office, and rooftop bar potential
- Limitless Potential - Retail, art gallery, entertainment, multifamily, hospitality, restaurant, and/or cannabis dispensary
- Thriving Hotel Market - 12-month occupancy in the market pre-covid typically hovered around 80%-82%, before taking a tough beating and dropping to a low of 30% during lockdowns. Occupancy is back around 70%, up from 48% this same time last year