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Source: San Francisco Belt Railroad

The San Francisco Belt Railroad was a short-line railroad along the Embarcadero in San Francisco, California. It began as the State Belt Railroad in 1889, and was renamed when the city bought the Port of San Francisco in 1969. As a state owned enterprise, the railroad asserted several unsuccessful claims to immunity from federal regulation. The railroad ceased operation in 1993.
The railroad connected the Port of San Francisco to many waterfront docks and to industries and warehouses which were adjacent to the waterfront. In its early years, it operated dual-gauged track to accommodate the North Pacific Coast Railroad and South Pacific Coast Railroad. It would eventually have 67 miles (108 km) of trackage and general offices in the Ferry Building. Its function was to switch railroad cars from four major railroads to points along its system and vice versa. At the southern portion of the line, a track along King Street (passing the location now occupied by Oracle Park) connected with the Southern Pacific. A train ferry slip at Pier 43 allowed interchange with the Northwestern Pacific, the Western Pacific, and the Atchison, Topeka & Santa Fe railroads. To reach its northern terminus, tracks passed through Fisherman's Wharf and Aquatic Park. The line was extended through the a tunnel to serve Fort Mason during World War I, and was further lengthened to the Presidio Army Base in 1917.
The Belt tracks were utilized for the 1987 San Francisco Historic Trolley Festival, with electric streetcars being operated along the line via hauled diesel generators. While this demonstration lasted only a month, it prompted interest in utilizing the disused right of way for local transit purposes. The San Francisco Municipal Railway would go on to surface their portion of the Market Street subway south of Market Street along The Embarcadero with service beginning in 1998. Simultaneously, the newly permanent F Market historic streetcar line was extended north along the former Belt Railroad right of way to Fisherman's Wharf in 2000.
The line was largely paved over to form the current Embarcadero, with rails set in the median for streetcar and light rail services. San Francisco Municipal Railway's E Embarcadero line now traverses the route between the Caltrain (former Southern Pacific) station and Fisherman's Wharf, with other lines covering portions of the route. The former roundhouse has been converted to commercial business but exists in a recognizable form on the Sansome Street, Lombard Street, The Embarcadero, and Chestnut Street block.
The San Francisco Bay Railroad is the successor to the Belt Railroad and received approval to operate the remaining five miles (8.0 km) of track in 2000.