Flex Space with Warehouse
For Sale
$1,300,000
10301034 Ohio Avenue, Richmond, CA 94804
Commercial Sale, Richmond, CA
Property Size7,425 SF
Price / SF$175.08
Days on Market216
Property Features for 10301034 Ohio Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
Intersection of Ohio Ave and S. 11th St.
Subdivision
699 - Not Defined
Standard status
Active
APN
5503320318
Amenities
break room
full kitchen
Building Details
Year built
1957
Listing Agency:
Pinnacle Real Estate Group
(626) 888-9808
Listed By:
Mason Zhao · License #02103122
(626) 262-3670
Added: Jan 26
Changed: Aug 28
Last Checked: Aug 30 at 4:06AM
MLS# AR26019935
Copyright © 2026 California Regional Multiple Listing Service, Inc. 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.
This 7,425-square-foot flex property combines administrative and industrial functions within a 1957 building. The main level includes an entry foyer, several private offices, a break room, and a full kitchen, along with three half baths and two full baths. Warehouse areas and two garage bays provide substantial work and storage space for cultivation, manufacturing, or distribution operations. Two attic areas on the upper level add storage capacity and may support future conversion.
The property is located on Ohio Avenue in Richmond’s Green Zone, with access to Interstate 580 connecting the site with the East Bay and San Francisco. Its combination of office, service, warehouse, and garage areas supports a range of commercial operating formats.
The property is located on Ohio Avenue in Richmond’s Green Zone, with access to Interstate 580 connecting the site with the East Bay and San Francisco. Its combination of office, service, warehouse, and garage areas supports a range of commercial operating formats.
Key Highlights
- 7,425‑square‑foot flex property in Richmond’s Green Zone
- Main level includes private offices, break room, full kitchen, and entry foyer
- Warehouse areas with dual garage bays
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$90,579
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.97%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,811,580
$1.8M
Cap Rate 7%
$1,293,986
$1.3M
Cap Rate 9%
$1,006,433
$1.0M
Market Conditions
NOI Build-Up for 7,425 SF
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.
Gross rent
$151.5K $20.40/SF
− Vacancy
−$12.1K −$1.63/SF
EGI
$139.4K $18.77/SF
− OpEx
−$48.8K −$6.57/SF
NOI
$90.6K $12.20/SF
Area
Richmond, CA
Vacancy
8.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,811,580
Cap Rate 7%
$1,293,986
Cap Rate 9%
$1,006,433
Alternative Uses
Best Use
Flex RnD
$1.29M
$1.13M – $1.51M
NOI $90,579 @ 7.0% cap · market cap 6.97%
Second Best
Warehouse
$709.2K
$620.6K – $827.4K
NOI $49,644 @ 7.0% cap · market cap 3.82%
Theoretical Best
Multifamily LT 5
$1.77M
$1.55M – $2.07M
NOI $124,166 @ 7.0% cap · market cap 9.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Drive-in doors
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
960
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 94804, CA
45,108
Population
16,659
Households
2.7
Avg Household Size
37
Median Age
32%
College-Educated
78%
High-School Grad
6.5 sq mi
ZIP Area
6,940
Density / Sq Mi
$86,430
Median Household Income
$46,473
Median Earnings
$1,825
Median Rent
$618,000
Median Home Value
Market
Vacancy Rate% for Industrial in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - Industrial building with offices, kitchen, and dual garage bays.
Where is this flex space located?
The property is located at 10301034 Ohio Avenue Richmond, CA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 7,425‑square‑foot flex property in Richmond’s Green Zone; Main level includes private offices, break room, full kitchen, and entry foyer; Warehouse areas with dual garage bays
