Updated Nov 6, 2026
SOLDRetail
Ian Jacobs Acquires Retail Building In Union Square San Francisco For $7.1M From James & Dorothy Hatley
35 Powell Street
$7,100,000
$417/SF
Building Size
17,000 SF
Asset Type
Retail
Closing
Jul 10, 2025
About this deal
AI
The property involved in this transaction is a retail asset located at 35-41 Powell Street in San Francisco, encompassing a total area of 17,000 square feet. The transaction was finalized with a sale price of $7,100,000, equating to a price per square foot of $418.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $7,100,000
- Address: 35-41 Powell Street
- Market: San Francisco
- Square Footage: 17,000
- Price per Square Foot: $418
- Buyer: Ian Jacobs
- Seller: James & Dorothy Hatley
Ian Jacobs, through 35 Powell LLC, completed the acquisition as part of his Project Uris investment strategy. This purchase follows other recent acquisitions at 111 Ellis and 200-216 Powell, indicating Jacobs' ongoing investment in the downtown area.
On the Map
$7,100,000
$417/SF
Retail
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Players
San Francisco Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.23%
Cash-on-Cash
-0.64%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93