San Francisco, CA – The Alexander Barker Team of NAI NorCal is pleased to announce the successful sale of 300 5th St. and 905 Folsom St., one of the last gas stations in a prime corner location in San Francisco’s SoMa district. The properties sit on an 11,000+/- square foot lot at the corner of 5th St. and Folsom St. and include a 2,000+/- square foot building that houses a convenience store and a three-bay automotive space.
This location offers close proximity to the Financial District, Market Street, Moscone Center, and the Bay Bridge, making it a highly coveted site in the heart of the city.
Alexander Barker, Vice President, shared his thoughts on the transaction: “I recently had the privilege of representing both buyers and sellers in the sale of two notable properties: 300 5th St. and 905 Folsom St. in San Francisco. The journey to this sale was a decade-long endeavor, initially aimed at a local multi-family development company. However, the onset of the pandemic reshaped the development landscape in San Francisco, leading to a shift in our strategy. Ultimately, the properties were sold to a well-established owner/operator of gas stations in the Bay Area. The collaboration with both parties was incredibly rewarding, and I’m thrilled we successfully completed the sale despite the challenges.”
He further added, “This transaction is particularly significant, as it marks one of the few gas station sales in San Francisco in recent years. We are optimistic about the positive impact the new gas station will have on the neighborhood and its residents, providing them with a convenient and updated location to fuel their vehicles. The sale not only reflects the resilience and adaptability of all involved but also heralds a fresh start for the properties under new ownership. I eagerly anticipate seeing the transformation and enhancements the new owners will bring to the site and neighborhood.”
This sale was facilitated by Alexander Barker, Vice President and Joshua Keller, Senior Investment Advisor.
