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668 McDowell Avenue
Development Opportunity at Historic Complex near Crissy Field
A photo of 668 McDowell Avenue, a long red brick building with a two tiered roof and two main entrances on the facade.
Property Description
The Presidio Trust is now seeking proposals for the redevelopment of 668 McDowell Avenue, part of the historic Cavalry Stables complex, located just south of the bustling Crissy Field waterfront.
 
668 McDowell is offered as part of the West Crissy Field Request for Proposals. The Trust will entertain proposals for one or more of the available stables (662, 663, and 668). These buildings range in size from 14,013 to 19,936 square feet.
 
The Trust is seeking a tenant or master developer for the buildings, which are available immediately on an as-is basis. This opportunity requires the tenant to fund the building renovation and all improvements. Tenant’s capital investment may be used to offset monthly rent payments, as rent credits. Historic tax credits may be available.
 
Built as the United States entered World War I, the brick stables once housed enough horses to support an entire cavalry company. Later, the buildings were adapted for other uses including a K-9 Corps facility and a veterinary hospital. Today, one stable houses the U.S. Park Police mounted patrol and another is home to the park archive. The beloved Presidio Pet Cemetery is nearby.
 
The immediate environment of the stables is undergoing a vast improvement as a result of the Doyle Drive replacement project. The stables also sit along one of the primary gateways to Crissy Field, one of the most recognizable spaces on the West Coast and the most visited Presidio district. Crissy Field’s beaches, trails, and Golden Gate Bridge views draw millions each year. The historic hangars and warehouse at its west end, the legacy of the site’s aviation history, now house popular recreational destinations including a rock-climbing gym, swim school, and more. The stables are near the Golden Gate Bridge Visitor Center, which is being revitalized in celebration of the icon’s 75th anniversary.
Expenses
In addition to base rent and parking, tenant is responsible for all operating expenses including utilities, insurance, maintenance and the Service District Charge (SDC). SDC is a reimbursement to the Trust for a portion of municipal services such as police, fire, emergency services, road and other infrastructure maintenance. Current SDC is estimated at $4.58 per rentable square foot, per year, subject to annual adjustment.
Commission
The Presidio Trust will pay commissions to procuring brokers who are involved in the transaction. Brokerage commission shall be the greater of:
(a) $1.00 per rentable sq. ft. per year up to 10 years; or
(b) 5% / 4% / 4% / 3% / 2% of rental income (not including service district charge pass-throughs) for first five years, and 1.5% of rental income each year for the next five years, and 1% of rental income each year for years 11 through 15.
Commissions are earned one-half upon lease execution and one-half upon tenant occupancy. Commissions are payable within 30 days after they are earned. Procuring cause will include, but not be limited to the following:
1. Broker must accompany the clients on the initial visit to the Presidio;
2. Broker must provide written confirmation of an agreement between broker and tenant;
3. Broker must have a continuing involvement in the transaction.
Tenant Selection Criteria
Responsiveness to the Presidio Trust's stated project objectives
 
Consistency with the planning principles and preferred uses articulated in the Presidio Trust Management Plan, contribution to the visitor experience, and responsiveness to the general objectives of the General Management Plan Amendment
 
Compatibility with the draft "Building and Site Rehabilitation Guidelines" (Appendix B)
 
Qualifications and experience of respondents
 
Financial capability and business terms
Property Details
Available Development Opportunity
Square Feet 19,936
Divisible? Not Divisible
Floors 2
Uses Cultural; Educational; Food Service; Health and Fitness; Office; Recreational (excluding childcare + preschool)
Term A long term lease may be available
Rent Rate Market rate base rent NNN lease, negotiable with periodic base rent increases and a possible inclusion of percentage rent and/or participation rent. Tenant to fund the building renovation and all improvements.

Contact Us

Real Estate Leasing + Development
T: (415) 561-5335
E: leasing@presidiotrust.gov

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