558 Sacramento Street, San Francisco, CA
Sale Price: $11,700,000
CAP Rate: 5.35%
Building Area: 12,000 SF
Land Area: 2,390 SF
Year Built: 1907
Historical Classification: Historic, Category IV
Premier celebrity restauranteur and the James Beard Foundation’s 2015 ‘Best Chef of the West’ Award Nominee, Tyler Florence’s award-winning fine dining eatery, Wayfare Tavern currently occupies 100% of the building, featuring 12,000 square feet on four floors, plus the basement.
An upscale lounge is currently being built on the penthouse level, which will host a massive skylight showcasing one of San Francisco’s most beautiful views, The TransAmerica Pyramid. The Billiards Room can accommodate up to 16 guests and can be used as a semi-private or completely private space. Equipped with a vintage red felt pool table that can be easily converted into a large dining table with the use of a custom wood cover. The room also features an audio/visual ready flat screen TV. The Bartlett Room is an entertaining space that can accommodate up to 50 seated guests or up to 80 guests for standing receptions. The room features mahogany paneling, hardwood floors, a private bar, audio/visual ready flat screen TVs and overlooks the Wayfare Tavern wine cellar. It is an ideal location for corporate events, specialty wine tastings, holiday parties, family dinners, wedding and cocktail receptions, and more.
The property has benefitted from multiple improvements and renovations. A Full Seismic Retrofit was completed in 1994; all of the interior tenant improvements and furniture, fixtures and equipment for the restaurant were completed in 2010; and in 2015 the elevator was fully modernized, the roof was replaced, new fire sprinkler risers were installed, new electrical service was installed in addition to other improvements. The fourth floor penthouse level was taken down to the studs and construction of the cocktail lounge is underway and expected to be completed in Summer 2016.
The location of this building is exceptional. It is blocks from the iconic TransAmerica Pyramid, Jackson Square, Union Square, The Waterfront and North Beach easily providing a beacon of direction for visitors.