Emeryville Fixer
For Sale
$745,000
1096 48th, Emeryville, CA 94608
Dual-zoned property in a dynamic, rapidly growing Bay Area market.
Property Size2,772 SF
Price / SF$268.76
Days on Market143
Property Features for 1096 48th
General Information
Standard status
Active
Size
2,772 SF
Property subtype
Commercial
Building Details
Year Built
1935
Listing Agency:
TWIN OAKS REAL ESTATE INC
7468700
Listed By:
DEANDRE S LEE
Source:
Corcoran
Added: Apr 10
Changed: Aug 27
Last Checked: Aug 29 at 8:33AM
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 TWIN OAKS REAL ESTATE INC
Investment Insights
Based on property information with market context.
Located in Emeryville, this property presents a fixer opportunity with potential for value creation. The property, previously configured as a four-plex, is now dual-zoned for both commercial and residential use, offering flexibility for various development options. The location in Emeryville, a dynamic and rapidly growing market in the Bay Area, enhances its investment appeal. The property is suitable for investors, developers, or owner-users seeking to capitalize on a sought-after location. The property offers the possibility of a mixed-use setup, combining a storefront or business on the ground level with residential living above. The property is to be sold as-is. The property size is 2772 square feet.
Key Highlights
- Prime investment opportunity in rapidly growing Emeryville market.
- Dual‑zoned for commercial and residential use, offering flexible development options.
- Previously configured as a four‑plex, suggesting potential for multi‑unit redevelopment.
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
$56,133
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
7.53%
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%
$1,122,660
$1.1M
Cap Rate 7%
$801,900
$801.9K
Cap Rate 9%
$623,700
$623.7K
Market Conditions
NOI Build-Up for 2,772 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
$99.8K $36.00/SF
− Vacancy
−$10.0K −$3.60/SF
EGI
$89.8K $32.40/SF
− OpEx
−$33.7K −$12.15/SF
NOI
$56.1K $20.25/SF
Area
Alameda County, CA
Vacancy
10.00%
Lease Rate
$36.00 /SF/Yr
Expense Ratio
37.50%
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%
$1,122,660
Cap Rate 7%
$801,900
Cap Rate 9%
$623,700
Alternative Uses
Best Use
Multifamily LT 5
$1.33M
$1.16M – $1.55M
NOI $93,043 @ 7.0% cap · market cap 12.49%
Second Best
Mixed Use
$801.9K
$701.7K – $935.6K
NOI $56,133 @ 7.0% cap · market cap 7.53%
Theoretical Best
Retail
$12.64M
$11.06M – $14.74M
NOI $884,619 @ 7.0% cap · market cap 118.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,747
Businesses Nearby
Explore this area
Business Placement
Demographics for 94608, CA
33,073
Population
17,956
Households
1.8
Avg Household Size
36
Median Age
64%
College-Educated
94%
High-School Grad
2.8 sq mi
ZIP Area
11,812
Density / Sq Mi
$116,306
Median Household Income
$73,845
Median Earnings
$2,561
Median Rent
$826,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Dual-zoned property in a dynamic, rapidly growing Bay Area market.
Where is this mixed-use property located?
The property is located at 1096 48th Emeryville, CA.
What is the asking price?
The asking price for this property is $745,000.
What are key features of this property?
This property features: Prime investment opportunity in rapidly growing Emeryville market.; Dual‑zoned for commercial and residential use, offering flexible development options.; Previously configured as a four‑plex, suggesting potential for multi‑unit redevelopment.
