In SoMa, ground zero for hot office leases, the next big property sale could be a tiny corner lot with an Extra Value menu.
According to the San Francisco Business Journal, which often quotes excitable developers who like to hype up local real estate deals, the ballpark-adjacent, 13,750-square-foot lot at the corner of Third and Townsend Street could fetch more than $17 million. That's a cost of $170 per square foot, which would rival the $140 per square foot developers paid for the land that will soon hold the 61-story
Transbay Salesforce Tower.
The site is zoned for up to 10,000 square feet of mixed-used space and has already received five offers before it even hit the market. Although the lot is small, a representative handling the property sale tells the Business Journal there has been a lot of interest from "boutique office developers." The sale is still just in the speculative stages and the McDonald's actually has a lease until 2017, so neighborhood fans of dirt cheap cheeseburgers and excellent french fries will be able to indulge in those guilty pleasures for at least three more years.