Multi-Suite Office
116 Washington Avenue Richmond, CA 94801
116 Washington Avenue, Richmond, CA, 94801
$975,000
For Sale
$975,000
Commercial Sale, Other - Richmond, CA
Property Size4,535 SF
Lot Size0.07 Acres
Price / SF$214.99
Days on Market40
Property Features for 116 Washington Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Office
- Standard status
- Active
- APN
- 5581400032
- Size
- 4,535 SF
- Lot size
- 0.07 Acres
Building Details
- Year built
- 1989
- Architectural style
- Other
Listing Agency
Engel & Völkers San Francisco Union Street
(415) 689-8592
2200 Union Street, San Francisco, CA
Listed by
Oleg CRE Verbitski
Added: Jun 12 Updated: Jul 15 at 3:04 am Checked: Jul 21 at 12:06 am
MLS# 426107265
Listing URL
Copyright © 2026 Engel & Völkers. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
116 Washington Avenue is a well-maintained office property constructed in 1991, offering 4,535 square feet configured as five individual office suites. The building is currently 80% occupied and has a history of tenant demand, supported by multiple suite layouts that can accommodate a range of professional uses.
The property is located in Richmond, CA (Point Richmond area) and benefits from walkable access to local retail and dining, along with convenient proximity to major transportation routes.
This is a for-sale offering at $975,000, reflecting a 7.0% current cap rate and 8.1% pro forma cap rate. The stated underwriting suggests in-place income with additional potential tied to lease-up and market rent growth.
The property is located in Richmond, CA (Point Richmond area) and benefits from walkable access to local retail and dining, along with convenient proximity to major transportation routes.
This is a for-sale offering at $975,000, reflecting a 7.0% current cap rate and 8.1% pro forma cap rate. The stated underwriting suggests in-place income with additional potential tied to lease-up and market rent growth.
Key Highlights
- High current (7.0%) and pro forma (8.1%) cap rates offer reliable income and growth potential.
- Well‑maintained 4,535 SF office property with a history of strong tenant demand.
- Located in the heart of Point Richmond's commercial hub with walkable access to retail and dining.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $89.8k | $19.80 |
| − Vacancy | −$14.8k | −$3.27 |
| EGI | $75.0k | $16.53 |
| − OpEx | −$18.7k | −$4.13 |
| NOI | $56.2k | $12.40 |
4,535 SF · lease $19.80/SF/yr · vacancy 16.50% · expense 25.00%
Alternative Uses
Best Use
Office B
$803.3K
$702.9K – $937.2K
NOI $56,233 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$1.08M
$948.0K – $1.26M
NOI $75,838 @ 7.0% cap · market cap 7.78%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Angelsmith, Inc.
Marketing & Advertising
Fox Design Group ...
Architect
THE TAXBAR
Tax Preparation
Douglas Slain Law ...
Law Firm
DLHASTINGS
Marketing & Advertising
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - 4,535 SF office building built in 1991 with five suites and 80% occupancy.
Where is this office building located?
The property is located at 116 Washington Avenue Richmond, CA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: High current (7.0%) and pro forma (8.1%) cap rates offer reliable income and growth potential.; Well‑maintained 4,535 SF office property with a history of strong tenant demand.; Located in the heart of Point Richmond's commercial hub with walkable access to retail and dining.
