Rare opportunity to purchase a registered, San

Rare opportunity to purchase
a registered, San Francisco
historical building.
SUMMARY
Built in 1881 for Theodore F. Payne and
designed by Curlett & Cuthbertson, the
Payne Mansion displays classic
Victorian-era architecture with
renovations including office space built
out on the ground, third and fourth
floors. The main floor has been
renovated to preserve its original
aesthetic and offers a grand ballroom,
five separate entertaining rooms and a
full service-kitchen. This is a fantastic
opportunity to acquire a registered, San
Francisco historical building in the heart
of the bustling Van Ness Cooridor.
BUILDING DESCRIPTION
Consisting of ±16,897 rentable square
feet, 1409 Sutter is a single-family
residence conversion to a four-story
office building – originally built in 1881.
Having undergone major renovations
including: addition of marble flooring,
lighting modifications and wall texturing over a two-year time period, this
building is an excellent opportunity for a
building owner/user looking to acquire
a highly improved asset.
Additional improvements to 1409
Sutter includes: decorative hand
painting, stone accents, security
system, new drywall, HVAC system,
bathroom renovations and decorative
carpentry throughout. With its original
European stained glass and original
woodworking still intact, this building
retains its stately and Victorian
ambiance while accommodating for
21st Century use.
LOCATION &
TRANSPORTATION
Located on the south side of Sutter between
Franklin & Gough.
Fifteen separate bus lines operating within a
six-block radius and the proposed Van Ness
Avenue Bus Rapid Transit Project make 1409
Sutter an easily accessible space.
The property includes an asphalt parking lot with
six parking spaces and room for two cars along
the eastern side of the building.
BUILDING AREA:
Ground Floor: ±3,957 SF (office space)
Main Floor: ±4,505 SF (banquet space)
2nd Floor: ±4,575 SF (office space)
3rd Floor: ±3,860 SF (office space)
Total: ±16,897 SF
Number of Floors: 4
The property currently serves as
corporate headquarters for the
Simayof Corporation and is used &
rented for corporate events, weddings
and private parties.
ASKING PRICE:
$ 7.8 MILLION
for more information please contact:
hans hansson | 415.765.6897 hans@starboardnet.com dre# 00872902 or craig hansson | 415.694.5367 craig@starboardnet.com dre# 01841643
DEMOGRAPHICS REPORT
C
A
C
B
B
C
California Pacific Medical
Center
C
1/2 Mile Radius
A. 1409 Sutter
B. New (CPMC) California Pacific Medical Center
C. Van Ness corridor leading to Golden Gate Bridge
for more information please contact:
hans hansson | 415.765.6897 hans@starboardnet.com dre# 00872902 or craig hansson | 415.694.5367 craig@starboardnet.com dre# 01841643
GROUND FLOOR
MAIN FLOOR
SECOND FLOOR
THIRD FLOOR
Prepared for: Hans Hansson & Craig Hansson, Starboard TCN Commercial Real Estate
Prepared by: Ole Tustin US Bank, SBA Division
7(a) 1 yr
1409 Sutter Street, San Francisco, CA
Borrower
Pays SBA
$ 7,800,000 Purchase Price, 2.99% Annual
10%
Proposed Purchase:
$7,800,000
Financing Closing Costs
$0
Total Project Cost:
$7,800,000
Down Payment:
$780,000
Financing Amount (US Bank SBA Guaranteed Loan):
$7,020,000
Loan Closing Costs*:
Total Cash Required:
$144,175
$924,175
Loan to Value:
Term (years):
9/5/2012
1 year (P - 0.26%):
Other Rates: 3 yr: 3.49%; 5 yr: 3.95%;
90%
25
2.99%
10 yr: 5.15%
Overview:
25 Year Term and Amortization
Limited Prepayment Penalty:
3 year (5%, 3%, 1% of principal)
Up to 25% can be paid off per year, no pre-pay
Loan is assumable; No balloon payment
Total Monthly Payment:
*Loan Closing Costs (financed):
SBA Guaranty Fee
Appraisal
Environmental Assessment (if needed otherwise $400)
Document Preparation (processing fee):
Miscellaneous (includes TROY Report):
Total:
($33,253)
$138,125
$3,300
$2,050
$0
$700
$144,175
Condition: Buyer’s business to occupy 51%+ of the rentable space within 12 months.
Please note all of the above costs, terms, and conditions are estimates. Final terms and conditions are subject to
review of financials (which we have not seen) and approval by US Bank and/or the Small Business Administration
(SBA).
Ole Tustin, US Bank SBA 415-399-8068