Efficient Office Condo with
For Sale
Contact for pricing
212 9th St, Oakland, CA
Office condo with parking near Lake Merritt BART.
Property Size1,879 SF
Lot Size0.57 Acres
Price / SF$425.23
Days on Market840
Property Features for 212 9th St
General Information
Standard status
Active
Size
1,879 SF
Lot size
0.57 Acres
Property subtype
OFFICE
Listing Agency:
Lee & Associates | Oakland
(510) 903-7600
Listed By:
Neil Cowperthwaite · License #01912683
(415) 302-6940
Source:
Moodyscre
Added: Jun 20, 2024
Changed: Aug 8
Last Checked: Jul 24 at 6:58AM
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 Lee & Associates | Oakland
Investment Insights
Based on property information with market context.
This office condo presents an opportunity for small businesses to own an efficient workspace with parking. Situated in a location minutes from Lake Merritt BART station, the property offers convenient access to restaurants and entertainment options. Located on the 3rd floor of an elevator-served building, the condo features 3 offices, a copy area, and a reception area. The property benefits from a window line that provides natural light. The property includes one parking space. The property has a size of 1879 square feet.
Key Highlights
- Convenient location minutes from Lake Merritt BART, restaurants, and entertainment.
- Efficient office condo ideal for a small business.
- Includes one (1) dedicated parking space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,191
Cap Rate
3.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$503,820
$503.8K
Cap Rate 7%
$359,871
$359.9K
Cap Rate 9%
$279,900
$279.9K
Market Conditions
NOI Build-Up for 1,879 SF
Gross rent
$44.2K $23.52/SF
− Vacancy
−$10.6K −$5.64/SF
EGI
$33.6K $17.88/SF
− OpEx
−$8.4K −$4.47/SF
NOI
$25.2K $13.41/SF
Area
Oakland, CA
Vacancy
24.00%
Lease Rate
$23.52 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$503,820
Cap Rate 7%
$359,871
Cap Rate 9%
$279,900
Alternative Uses
Best Use
Office B
$359.9K
$314.9K – $419.9K
NOI $25,191 @ 7.0% cap · market cap 3.15%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$615.2K
$538.3K – $717.7K
NOI $43,062 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
7,726
Businesses Nearby
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Business Placement
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in West region
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Frequently Asked Questions
What type of property is this?
Office units - Office condo with parking near Lake Merritt BART.
Where is this office units located?
The property is located at 212 9th St Oakland, CA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Convenient location minutes from Lake Merritt BART, restaurants, and entertainment.; Efficient office condo ideal for a small business.; Includes one (1) dedicated parking space.
