Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    116 Washington Avenue Richmond, CA 94801

    View on Map
    For Sale
    $975,000

    Commercial Sale, Other - Richmond, CA

    Type:Office
    Property size:
    4,535 SF
    Lot size:
    0.07 Acres
    Added:
    Feb 26, 2026
    Days on Market:
    33
    Last Refresh:
    Mar 31 at 9:06 pm

    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

    We can help!

    Listing Contact
    Oleg CRE Verbitski

    Listing agent Oleg CRE Verbitski

    Listing office Engel & Völkers San Francisco Union Street 2200 Union Street, San Francisco, CA

    Listing date Feb 26, 2026

    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.

    Overview

    Point Richmond Office Investment Opportunity

    Located in the heart of Point Richmond, this well-maintained 4,535 square foot office property presents a prime investment opportunity. Constructed in 1991, the building is comprised of five individual office suites and is currently 80% occupied, demonstrating a strong history of tenant demand. The property exudes durability and longevity, reflecting quality craftsmanship and enduring value. Historically high occupancy rates and low operational costs make this asset a solid choice for investors seeking stable, income-generating property with long-term growth potential. The property delivers reliable in-place income with additional upside through lease-up and market rent growth. The flexible suite configurations accommodate a variety of professional users, allowing tenants to find workspace tailored to their unique needs. The property benefits from walkable access to local retail and dining, a thriving business community, and convenient proximity to major transportation routes, positioning it for continued success and appreciation.
    Property Profile Insight Report 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

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Building Supply Accounting Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Richmond
    County
    Contra Costa
    State
    California
    Longitude
    -122.38525
    Latitude
    37.927055

    Nearby Similar for Sale

    • $1,300,000
      7,425 SF

      Richmond Commercial Warehouse For Sale

      Versatile industrial property in Richmond's Green Zone, ideal for operators.
      10301034 Ohio Avenue, Richmond, CA 94804
      View Details
    • $995,000
      4,488 SF

      Richmond Multifamily Investment Opportunity

      Four units near transit with income and upside potential.
      1401 Bissell Ave, Richmond, CA 94801
      View Details
    • $850,000
      3,462 SF

      Richmond Fourplex with Renovation Potential

      Spacious Richmond fourplex with renovation potential on a 5,000 sq.ft. lot.
      1225 Fred Jackson WAY, RICHMOND, CA 94801
      View Details
    • $659,000
      1,630 SF

      Richmond Spanish Style Duplex

      Classic Spanish-style duplex in Richmond Annex, near El Cerrito border.
      1532 Mariposa St, Richmond, CA 94804
      View Details
    • $640,000
      1,476 SF

      Richmond Duplex: Investment Opportunity

      Well-located duplex with immediate income and long-term rental potential.
      2620 Maricopa Ave, Richmond, CA 94804
      View Details
    • $790,000
      1,380 SF

      Richmond Duplex: Newly Rebuilt, Vacant

      Rare, fully vacant duplex in Richmond, ideal for investors.
      2019 Potrero Ave, Richmond, CA 94804
      View Details
    • $899,000

      Richmond Commercial Property For Sale

      Commercial property available in Richmond, California.
      12786 San Pablo Avenue, Richmond, CA 94895
      View Details
    • $400,000
      2,468 SF

      Richmond Triplex with Strong ROI

      Fully leased triplex generating $91,800 annually with low maintenance costs.
      420 5th St, Richmond, CA 94801
      View Details
    • $799,000
      1,358 SF

      Richmond Multifamily Income Property

      Income-producing duplex in desirable Richmond Annex neighborhood.
      6130 Van Fleet Ave, Richmond, CA 94804
      View Details
    • $849,000
      6,312 SF

      Versatile Commercial Building in Richmond

      6,312 Sq ft building with three units and parking.
      2809 Macdonald AVE, RICHMOND, CA 94804
      View Details
    • $699,000
      1,332 SF

      Richmond Duplex: Income and Convenience

      Centrally located Richmond duplex with income potential and easy commute.
      1003-1011 Lassen Street, Richmond, CA 94805
      View Details
    • $6,900,000
      9,860 SF

      Retail Investment Opportunity in Richmond

      Retail property with national tenants and owner-user potential.
      4210 Macdonald Avenue, Richmond, CA 94805
      View Details

    FAQs

    What type of property is this?
    Office building - Well-maintained office property in Point Richmond with income potential.
    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.
    (415) 689-8592
    We can help!
    Listing Contact
    Oleg CRE Verbitski
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!