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1601 Mission Trades for $28.5 Million, Site to be Redeveloped Into 220-Unit Condo Complex

Development to Also Include 7,000 SF of Street-Level Retail Space
February 22, 2018
After four years, S&P Investments, LLC, a private carwash owner and operator, has completed its sale of 1601 Mission St. in San Francisco for $28.5 million, or about $2,294 per square foot.

Once home to Tower Car Wash and a Chevron Gas Station, the site, which was sold for its land value, will be redeveloped by new owner Zhuguang Properties (US) into a 220- unit condominium building with approximately 7,000 square feet of ground floor retail space. The parcel is a triangular lot located at the corner of Mission St. and South Van Ness Ave. in San Francisco's Soma district.

Hans Hansson and Craig Hansson of Starboard Commercial Real Estate represented the seller in negotiations.

Please see COMPS #4144499 for more information on the transaction.
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