That is besides just park it and try to avoid hotel parking charges, tickets, tow, etc. Depending on your details you might drop your luggage at your hotel first.
I don't think anyone has mentioned it, but regardless of what you end up doing, do check with the rental company and make certain there won't be a drop off fee.
Often you can drop in the city or at SFO as if they were one location, but we've also heard that sometimes there will be a fee at one, but not the other. Meters are not generally enforced after 6 PM or before 9 AM, but not always. Check carefully.
The biggest obstacles you will find are overnight street sweeping be sure to read signs carefully! You should plan on parking south of Market Street or somewhere in the vicinity of Sansome and Battery streets to the northeast. Plus with a car you can do something cool like see the City skyline from Twin Peaks or Treasure Island , or hit up a late night diner or coffee shop if the urge strikes.
I would check to see whether or not the Mason Street location will allow you to drop the car even when they are closed. Quite a few rental locations let you leave the car and drop the keys in a drop box--I think it is more the norm than not, though it is not always advertised. If I recall correctly, more than one agency shares the same parkade so I expect your situation isn't that unusual.
I recently dropped a car in Montreal at a location that was closed: the location was right across the street from my hotel so it saved me parking fees. I wouldn't bother with trying for free on street parking given the potential pitfalls. On their corporate website, Hertz on Mason indicates that although they close earlier, cars can be dropped off until 10 PM, probably when the garage that Hertz is housed in closes or scales back in staff.
As the poster above indicates, I have a medium-serious suspicion that other rental agencies have similar arrangements; it's best to call the local office, not the central reservation number to find out.
With the myriad of different informational signs on downtown streets stating tow-away, street cleaning, commercial vehicle, and other hour restrictions on parking spaces would make me extremely nervous about leaving cars out on a downtown street overnight.
It would be a downer to spend precious vacation hours retrieving a car from the tow impound lot, a multi-step process both here in San Francisco and many other locations. Yes, Hertz; yes Mason St. SUVs not allowed.
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