April 14, 2011
1233 Polk Street Sells for $2,250,000
San Francisco, CA - Coast Capital Income Fund, LLC completed the sale of a retail/hotel at 1233 Polk Street in San Francisco, for $2.25 million to an undisclosed investor. Clayton Jew and Morgan Thomas of Kidder Mathews represented the seller in the transaction.
The property is located in San Francisco's Polk Gulch and leased to Mayes Oyster House, one of the oldest restaurants in San Francisco, Est. 1867. "Polk Gulch is one of the next San Francisco neighborhoods that will experience a surge in gentrification and growth," said Clayton Jew, co-listing agent. "As a mixed-use property, typically appealing only to a small pool of buyers and often difficult to finance, obtaining financing for this deal indicates that some lenders have confidence in the market."
Kidder Mathews is the fastest growing commercial real estate firm in the Bay Area, and one of the largest full-service independent firms on the West Coast with over 400 professionals and staff in 9 offices including downtown San Francisco, Redwood Shores, and Santa Clara, as well as locations in Washington and Oregon. Kidder Mathews offers a complete range of brokerage, appraisal, property management, consulting, sustainability, and project and construction management services for all property types. The firm performs $1.95 billion in transactions, manages over 22 million square feet of space, and conducts 1,000 appraisals annually. www.kiddermathews.com
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