116 Washington Avenue Richmond, CA 94801
Commercial Sale, Other - Richmond, CA
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 agent Oleg CRE Verbitski
Listing office Engel & Völkers San Francisco Union Street 2200 Union Street, San Francisco, CA (415) 689-8592
Listing date Jun 12, 2026
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.
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 |
