906-908 Broadway Street - Touchstone Commercial Partners

TOUCHSTONE COMMERCIAL PARTNERS, INC. 1

906-908Broadway StreetRESIDENTIAL DEVELOPMENTOWNER/USER INVESTMENT OPPORTUNITY

TOUCHSTONE COMMERCIAL PARTNERS, INC.www.tcpre.com2 3

CONTENTS

Executive Summary

Project Overview

Project Highlights

Offering Terms

Maps and Elevations

Buyer Scenarios

Amenities

Demographics

Remodeled Churches

Contact Information

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Touchstone Commercial Partners, Inc., as Exclusive

Agent for the Seller, is pleased to offer investors and

developers the opportunity to purchase the fee simple

interest in 906-908 Broadway Street, San Francisco,

CA, 94133.

906-908 Broadway is comprised of approximately

19,692 gross square feet in two separate buildings

standing on approximately 13,420 gross square feet of

land. The property is situated on the east facing slope of

Russian Hill with sweeping views of the San Francisco

Bay and the downtown financial district skyline. Due to

its central location, this development will benefit from its

walkability to North Beach, Russian Hill, Chinatown and

the Financial District.

906 Broadway, also known as Our Lady of Guadalupe

Church, is a spectacular historical landmark constructed

of reinforced concrete. Along with the adjacent structure

and land at 908 Broadway, this combined site offers a

tremendous adaptive re-use opportunity to sophisticated

developers in one of the most sought after locations in

the world.

EXECUTIVE SUMMARY

AS UNIQUE AS THE CITY ITSELF

ADDRESS

APN(S) #:

BUILDING SIZE

TOTAL LOT SIZE

NO. OF STORIES

ZONING

HEIGHT LIMIT

YEAR BUILT

906-908 Broadway St., San Francisco, CA 94133

0149-009, 0149-010

+/- 19,692 square feet

+/- 13,398 square feet

2-3

RM-2 Residential-Mixed, Moderate Density

40-X

1907


PROPERTY OVERVIEW906-908 Broadway offers potential buyers the chance

to own a historic piece of San Francisco. Our Lady of

Guadalupe Church and the adjacent parcel present a unique

opportunity to redevelop a classic building in Russian Hill,

one of San Francisco’s most exclusive neighborhoods.

Known for its stunning city and bay views, close proximity

to the nearby neighborhoods of North Beach, Nob Hill,

Pacific Heights, the Marina, Fisherman’s Wharf and the

Financial District, Russian Hill is one of the most beautiful

and centrally located areas in all of San Francisco. Scenic

parks, iconic cable cars, and popular restaurants and cafés

surround the neighborhood to create an ideal place to call

your home or office (with a Walk Score of 99 out of 100).

The property is an extraordinary opportunity for an adaptive

reuse or renovation project of a historical gem, originally

designed by prominent architects, Shea & Lofquist in

1912. The beauty and character of 906 Broadway is a

reflection of Shea & Lofquist’s portfolio of work around

Northern California during the early part of the 20th Century.

Their work employed a wide range of styles including

Mediterranean, Gothic, Classical, and Romanesque. Under

the leadership of Archbishop Patrick Riordan, Shea &

Lofquist were contracted to design several other churches

including St. Vincent De Paul in Pacific Heights, St. Brigid

on Van Ness, St. Paul in Noe Valley, St. James and Mission

Dolores Basilica in the Mission District, Holy Cross in the

Western Addition, and the Star of the Sea and St. Monica

in the Richmond District. Other landmark properties

they designed include the Bank of Italy building at 552

Montgomery Street and the Hall of Justice in Sacramento.

Built for local parishioners in the neighborhood, Our Lady

of Guadalupe Church thrived for over 40 years. Up until

early 1950s, the area around the Church was populated

with homes and shop space for people of Mexican, Spanish,

and Portuguese descent. In the 1950s, after the nearby

Broadway Tunnel was constructed in the middle of this

neighborhood, many of these people migrated to the

Mission District and the Church suffered from declining

attendance. In early 1990s, the Church was officially

closed along with eight other churches shuttered by the

Archdiocese of San Francisco. The property was leased to

the St. Mary’s Chinese Day School for over 16 years after

the school’s previous facility was closed due to earthquake

damage.

The inherent beauty and location of the existing structure is

an incredible opportunity for a sophisticated developer or

owner-user to revitalize the site as scores of other church

properties have been through Europe and other parts of

the world.

www.tcpre.com8 9

VIEW FROM THE ROOF


DESIGN BYStaffan Svenson (MESH, Dencity.us)

& David Brown (MESH)

(415) 577-3731


PROJECT HIGHLIGHTS

RARE DEVELOPMENT OPPORTUNITY IN RUSSIAN HILL

HISTORIC ARCHITECTURAL GEM

UNENTITLED RESIDENTIAL OPPORTUNITY

WALKABILITY SCORE OF 99 OUT OF 100

CONVENIENT ACCESS TO PUBLIC TRANSPORTATION

The site at 906-908 Broadway is situated in one of the most exclusive residential

areas of San Francisco, with its views of San Francisco Bay and the Financial

District, just steps from the bustling activity of North Beach and Chinatown.

All prospective bidders are advised to evaluate the current zoning restrictions

(Residential, Mixed, Moderate Density or RM-2) to determine the potential future

use and possible development.

Shea & Lofquist’s design is representative of a prolific era of architecture in San

Francisco during the rapid expansion of growth in the city. Any future renovation

or adaptive reuse of the property will adhere to the Historical Designation rules

applied to the property.

The location at 906-908 Broadway is a veritable “Walker’s Paradise” per the

Walk Score rating system. Russian Hill offers beautiful public parks such as

Coolbrith Park, Sterling Park, Lombard Street, and Macondray Lane. Two

blocks downhill is Columbus Avenue, world famous for nightlife, dining, and

entertainment. A few blocks over the hill in the prestigious Russian Hill proper

are various well-known eateries and boutique shops along Hyde Street.

The location has an overall “Transit Rating” of 93 out of 100. The Powell-Mason

Cable Car is located half a block away on Mason. In addition, the MUNI offers

several bus lines nearby the property that can transport patrons around the city

and connects to the BART train for public transportation to the neighboring

counties of Alameda, Contra Costa and San Mateo.


OFFERING TERMS

MARKETING PROCESS / OFFERING OUTLINE

906-908 Broadway Street is being offered for sale without

an asking price. All prospective buyers should assume the

subject property will be delivered on an “As-Is, Where-Is”

basis and 100% vacant at the close of escrow.

Prospective buyers will have the opportunity to tour

the subject property and begin initial due diligence for

approximately 3-4 weeks from the property’s availability in

the marketplace. All prospective buyers will be notified of

the “Call for Offers Date.” All offers are to be delivered to

Touchstone Commercial Partners, Inc. ([email protected],

[email protected], or [email protected]).


EXTERIOR ELEVATION

BASEMENT

ELEV. 142.36'

MAIN FLOOR

ELEV. 156.36'

MEZZANINE FLOOR

ELEV. 178.61'

MEZZANINE ROOF DECK ELEV. 181.9'

CEILING PEAK

ELEV. 200.38'

11'-0

"

EXISTING BUILDING SECTION 1SCALE: 1/8" = 1'-0"

PARCEL MAP


BASEMENT

ELEV. 142.36'

MAIN FLOOR

ELEV. 156.36'

MEZZANINE FLOOR

ELEV. 178.61'

MEZZANINE ROOF DECK ELEV. 181.9'

CEILING PEAK

ELEV. 200.38'

14'-0

"

22'-3"

36'-3

"

EXISTING BUILDING SECTION 2SCALE: 1/8" = 1'-0"

EXTERIOR ELEVATION


VARIOUS BUYER SCENARIOS

RESIDENTIAL DEVELOPER

RELIGIOUS ORGANIZATIONS

EDUCATIONAL/STUDENT HOUSING

The subject property is ideally situated for high-end/luxury

residential condominium development. The sheer size of

the site makes this a unique opportunity for developers.

Once a project is completed, outstanding views and the

historical façade will make this development stand out

above all of its competition.

Religious organizations who are seeking a new home

for their community will instantly see the intrinsic

characteristics the property has to offer. The property

benefits from a beautiful façade, a large open space for

services, outdoor space, and classroom facilities.

Educational users who are in need of a long term home

for their students will be able to make good use out of

the property. The large amount of class room facilities in

place, the outdoor/playground space, and the location

of the property make this opportunity ideal. No design

or feasibility study has been done, but a buyer may be

able to convert the property into a well located student

housing facility.

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DESIGN BYStaffan Svenson (MESH, Dencity.us)

& David Brown (MESH)

(415) 577-3731


AMENITIES MAP



“One day if I go to heaven…I’ll look around and say

‘It ain’t bad, but it ain’t San Francisco’”.

-Herb Caen


RUSSIAN HILL DEMOGRAPHICS

POPULATION

INCOME & EMPLOYMENT

HOUSING CHARACTERISTICS

TRANSPORTATION TO WORK

The local population in Russian Hill is 12,320 with approximately 51%

female. Total households are 9,620 with approximately 32% as family

households and 52% are single-family households. 32% are aged

18-34, 37% are aged 35-59, and 24% are 60 years and older. About

25% are foreign born. About 70% speak English and 20% speak an

Asian language. 39% have a college degree and approximately 26%

have a graduate or professional degree.

Median household income (2009) is $84,537 with median family

income at $113,223. There are 10,460 that are employed in Russian

Hill, with roughly 8% unemployed. More than 60% of those employed

hold managerial or professional occupations. About 11% hold service

occupations and 24% are in sales occupations.

A total of 10,900 units in Russian Hill with only 60 units built in the

last 10 years. Median age of building is 1939. 29% is owner occupied

with 71% renter occupied. Vacancy is approximately 12%. Median year

purchased is 1996 while median year moved started renting is 2003.

Only 9% are single-family homes, with 28% 2-4 units, 20% 5-9 units,

17% 10-19 units, and 27% are 20+ unit buildings. Median home value

is $1,245,450 (as of 2009). Approximately one-third of households do

not own a car in Russian Hill.

Of the 10,260 that work, about 36% drive to work alone or carpool

(5%). 27% take public transportation, 1% bikes to work and 20% walk

to work. Roughly 13% work from home. *Source: San Francisco Planning Department’s Socio-Economic

Profiles By Neighborhood, 2011

TOUCHSTONE COMMERCIAL PARTNERS, INC.www.tcpre.com32 33REDEVELOPED CHURCHES

CORSO KARLIN

PRAGUE, CZECH REPUBLIC

KNOX CHURCH RESIDENCE

VICTORIA, AUSTRALIA

DAVID CLOSES

CONVENT DE SANT FRANCESC

DAVID CLOSES


DAVID CLOSES



VICTORIA, AUSTRALIA


VICTORIA, AUSTRALIA

SELEXYZ DOMINICAN BOOKSTORE


CONTACT

RESIDENTIAL EXPERT

JOHN-CLAY MORRISdirect (415) 539-1112

cell (415) 517-5400

email [email protected]

BRE # 01263079

NEILL BASSIdirect (415) 296-2233

cell (415) 901-1700

BRE # 1883478

ZACH HAUPERTdirect (415) 539-1121

cell (415) 812-1219


BRE # 01822907

MICHAEL SANBERGdirect (415) 539-1103

cell (415) 697-6088


BRE # 01930041

TOUCHSTONE COMMERCIAL PARTNERS, INC.505 Sansome Street, Suite 1575San Francisco, CA 94111

SOTHEBY’S INTERNATIONAL REALTY-SAN FRANCISCO BROKERAGE

www.tcpre.com www.zm-tcpre.com

117 Greenwich StreetSan Francisco, CA 94111

This Confidential Offering Memorandum (“Memorandum”) has been prepared and presented to the recipient (the “Recipient”) by Touchstone

Commercial Partners (TCP) as part of TCP’s efforts to market for sale the real property located at 906-908 Broadway Street, San Francisco, California

(the “Property”). TCP is the exclusive agent and broker for the owner(s) of the property (the “Owner”). TCP is providing this Memorandum and the

material contained in it to the Recipient solely to assist the Recipient in determining whether the Recipient is interested in potentially purchasing all

or part of the Property. TCP also is providing this Memorandum and the material in it to the Recipient with the understanding that the Recipient will

independently investigate those matters that it deems necessary and appropriate to evaluate the Property and that the Recipient will rely only on its

own investigation, and not on TCP’s, the Owner or this Memorandum, in determining whether to purchase all or part of the Property. The Recipient

previously executed and delivered to TCP. PLEASE NOTE EACH OF THE FOLLOWING: TCP, the Owner and their respective agents, employees,

representatives, property managers, officers, directors, shareholders, members, managers, partners, joint ventures, corporate parents or controlling

entities, subsidiaries, affiliates, assigns and predecessors and successors-in-interest make no representations or warranties about the accuracy,

correctness or completeness of the information contained in this Memorandum. The Recipient is urged not to rely on the information contained in this

Memorandum and to make an independent investigation of all matters relating to the Property. This Memorandum includes statements and estimates

provided by or to TCP and/or the Owner regarding the Property. Those statements and estimates may or may not be accurate, correct or complete.

Nothing contained in this Memorandum should be construed as a representation or warranty about the accuracy, correctness or completeness of

such statements and estimates. Further, nothing contained in this Memorandum should be construed as a representation or warranty about any aspect

of the Property, including, without limitation, the Property’s (1) past, current or future performance, income, uses or occupancy, (2) past, current or

prospective tenants, (3) physical condition, (4) compliance or non-compliance with any permit, license, law regulation, rule guideline or ordinance,

or (5) appropriateness for any particular purpose, investment or occupancy. Again, the Recipient is urged not to rely on this Memorandum and the

statements and estimates in it and to make an independent investigation regarding the Property and the statement sand estimates contained herein.

This Memorandum may include statements regarding, references to, or summaries of, the nature, scope or content of contracts and/or other documents

relating to the Property. Those statements, references or summaries may or may not be accurate, correct or complete. Additionally, TCP may not have

referenced or included summaries of each and every contract and/ or other document that the Recipient might determine is relevant to its evaluation

of the Property. Nothing contained in the Memorandum should be construed as a representation or warranty about the accuracy, correctness or

completeness of such statements, representations or summaries. On request and as available, and subject to the Owner’s consent, TCP will provide the

Recipient with copies of all referenced contract and other documents. TCP assumes no obligation to supplement or modify the information contained

in t this Memorandum to reflect events or conditions occurring on or after the date of its preparation of the Memorandum. This Memorandum does

not constitute an offer to sell, or a solicitation of an offer to buy, an interest in the Property. Nothing contained in the Memorandum may be construed

to constitute legal or tax advice to a Recipient concerning the Property. More detailed information regarding the anticipated terms, conditions and

timing of any offering by the Owner relating to the Property will be provided in due course by separate communication. TCP and/or the Owner reserve

the right to engage at any time in discussions or negotiations with one or more recipients of this Memorandum and/or other prospective purchasers

of the Property without notice or other obligation to the Recipient. The Owner reserves the right to change the terms of any offering relating to the

Property or to terminate without notice that offering. The Owner also reserves the right to operate the Property in its sole and absolute discretion prior

to the completion of any sale of the Property. TCP reserves the right to require the return of this Memorandum and the material in it any other material

provided by TCP to the Recipient at any time. Acceptance of this Memorandum by the Recipient constitutes acceptance of the terms and conditions

above. All inquiries regarding this Memorandum should be directed to Michael Sanberg or Zach Haupert at (415) 989-1200.

CONFIDENTIAL OFFERING MEMORANDUM

www.tcpre.com36

www.tcpre.comwww.zm-tcpre.com

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906-908 Broadway Street - Touchstone Commercial Partners