Historic Point Richmond Mixed-Use
For Sale
$3,150,000
1 Richmond Avenue, Richmond, CA 94801
Mixed-use property with SRO units and retail in Point Richmond.
Property Size9,434 SF
Price / SF$333.90
Days on Market484
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Property Features for 1 Richmond Avenue
General Information
Standard status
Active
Size
9,434 SF
Building Details
Year Built
1914
Listing Agency:
RE/MAX ACCORD
Listed By:
MARK CALOCA · License #02146982
(669) 238-8878
Source:
Corcoran
Added: Jun 19, 2025
Changed: Mar 16
Last Checked: Oct 14 at 10:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX ACCORD
Investment Insights
Based on property information with market context.
The J.G. Gerlach Building, constructed in 1914, offers an investment opportunity with current income and future potential. This mixed-use property features 38 single-room occupancy (SRO) units and two leased ground-floor retail spaces. The property is located in Point Richmond, characterized by bay views, marinas, and rolling hills. The area provides access to Keller Beach and the Miller/Knox Regional Shoreline, which includes trails and picnic areas. The downtown area features cafes, restaurants, galleries, and boutique shops. The two street-level retail spaces are occupied by a hair salon and a nail salon, generating commercial rental income. The property has a size of 9434 square feet.
Key Highlights
- Strong current income and significant future upside potential.
- Mixed‑use property with 38 SRO units and 2 fully leased retail spaces.
- Located in the heart of desirable Point Richmond, a scenic bayside enclave.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$136,662
Cap Rate
4.34%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,733,240
$2.7M
Cap Rate 7%
$1,952,314
$2.0M
Cap Rate 9%
$1,518,467
$1.5M
Market Conditions
NOI Build-Up for 9,434 SF
Gross rent
$263.8K $27.96/SF
− Vacancy
−$15.3K −$1.62/SF
EGI
$248.5K $26.34/SF
− OpEx
−$111.8K −$11.85/SF
NOI
$136.7K $14.49/SF
Area
Richmond, CA
Vacancy
5.80%
Lease Rate
$27.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,733,240
Cap Rate 7%
$1,952,314
Cap Rate 9%
$1,518,467
Alternative Uses
Best Use
Apartment 5plus
$1.95M
$1.71M – $2.28M
NOI $136,662 @ 7.0% cap · market cap 4.34%
Second Best
Retail
$1.81M
$1.59M – $2.11M
NOI $126,892 @ 7.0% cap · market cap 4.03%
Theoretical Best
Multifamily LT 5
$2.25M
$1.97M – $2.63M
NOI $157,762 @ 7.0% cap · market cap 5.01%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
Explore this area
Business Placement
Demographics for 94801, CA
33,486
Population
11,012
Households
3
Avg Household Size
34
Median Age
19%
College-Educated
69%
High-School Grad
11.5 sq mi
ZIP Area
2,912
Density / Sq Mi
$75,786
Median Household Income
$40,435
Median Earnings
$1,608
Median Rent
$593,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Mixed-use property with SRO units and retail in Point Richmond.
Where is this mixed-use property located?
The property is located at 1 Richmond Avenue Richmond, CA.
What is the asking price?
The asking price for this property is $3,150,000.
What are key features of this property?
This property features: Strong current income and significant future upside potential.; Mixed‑use property with 38 SRO units and 2 fully leased retail spaces.; Located in the heart of desirable Point Richmond, a scenic bayside enclave.
