EXCLUSIVE: Potrero Hill Retail Building Could Be Replaced By Housing

The site of a multi-tenant retail center in San Francisco's Potrero Hill/Showplace Square submarket is going up for sale and will likely be picked up by a buyer interested in putting housing on the site, according to Beckett Capital, which is marketing the property.

At 300 De Haro St., the nearly 27K SF parcel is zoned for urban mixed-use and has a 68-foot height limit.

“300 De Haro is a prime example of a low-density property that has great potential because of its location, visibility and zoning,” Beckett Capital principal David Noravian said. “It’s very rare to find larger, unentitled sites that allow for podium development in San Francisco. We expect apartment and condo developers to take a strong run at the opportunity. Group housing and student housing developers and potentially affordable housing groups could also be in the mix.”

The site is near UCSF's Mission Bay campus and the Warrior's new Chase Center. A city report on the Showplace Square/Potrero Hill Plan found that the area had 6,400 residential units in the 2010 census and added only 58 net new units from 2010 to 2015 — compared with 643 units built from 2006 to 2010. In 2015, there were 4,511 units in the pipeline.

The De Haro Street property could be entitled for a development with 118 residential units totaling 83,650 SF and rising six stories above a basement with ground-floor retail, Beckett suggests in its marketing materials. The site doesn't have density restrictions, so what actually rises on the site could vary widely.

The existing one-story retail center on the site has tenants including restaurants and a salon.