Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2423 Grove Way Castro Valley, CA

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Retail or medical space available in Castro Valley.

    Type:RETAIL
    Property size:
    3,400 SF
    Lot size:
    0.29 Acres
    Price / SF:
    $1,411/SF
    Added:
    May 15, 2023
    Days on Market:
    1075
    Last Refresh:
    Apr 5 at 8:54 pm

    Property Features for 2423 Grove Way

    General Information

    Standard status
    Active
    Size
    3,400 SF
    Lot size
    0.29 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Mike Paleo

    Listing agent Mike Paleo

    Listing office Hughes Marino

    Listing date May 15, 2023

    Source Moodyscre

    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 Hughes Marino

    Overview

    Castro Valley Retail/Medical Property

    This property, located at 2423 Grove Way in Castro Valley, CA, is a part of the VetnCare sale-leaseback portfolio. The property offers approximately 3,400 square feet of space suitable for retail or medical use.
    Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Castro Valley
    County
    Alameda
    State
    California
    Longitude
    -122.073
    Latitude
    37.6844

    Nearby Similar for Sale

    • $895,000
      1,238 SF

      Medical Office Building Near Hospital

      Medical office building with parking near Sutter Hospital.
      19942 Lake Chabot, CASTRO VALLEY, CA 94546
      View Details
    • $1,065,000
      3,901 SF

      Castro Valley Commercial Buildings For Sale

      Three renovated commercial buildings on a single parcel in Castro Valley.
      1570 A Street, Castro Valley, CA 94546
      View Details
    • $943,164
      2,214 SF

      Castro Valley Retail Condos For Sale

      Retail condos in shell condition, customizable space, high visibility location.
      3765 Castro Valley Blvd, Castro Valley, CA
      View Details
    • $1,795,000

      Castro Valley Commercial Property For Sale

      Highly visible commercial property with flexible zoning and high traffic.
      1448 A Street, Castro Valley, CA 94546
      View Details
    • $2,199,000
      10,191 SF

      Castro Valley Commercial Property

      Commercial property available for sale in Castro Valley, California.
      2805 Castro Valley Blvd, Castro Valley, CA 94546
      View Details
    • $2,199,000
      10,191 SF

      Castro Valley Mixed-Use Opportunity

      Mixed-use building with retail, office, and workshop spaces.
      2805 Castro Valley Blvd, CASTRO VALLEY, CA 94546
      View Details
    • $850,000
      402 SF

      Castro Valley Office Building

      Well-located office building in Castro Valley with high visibility.
      19693 REDWOOD Road, Castro Valley, CA 94546
      View Details
    • $240,000
      455 SF

      Castro Valley Commercial Property

      Commercial property available for sale in Castro Valley, California.
      19837 Lake Chabot Rd, Castro Valley, CA 94546
      View Details
    • Contact for pricing
      16,856 SF

      Castro Valley Multifamily Investment Opportunity

      20-unit apartment community in Castro Valley, built in 1965.
      20324 Forest Ave, Castro Valley, CA 94546
      View Details
    • $6,150,000
      16,856 SF

      Castro Valley Warehouse For Sale

      16,856 SF warehouse available in Castro Valley, California.
      20324 Forest Avenue, CASTRO VALLEY, CA 94546
      View Details
    • $240,000
      455 SF

      Commercial Condo in Castro Valley

      Modern, accessible commercial condo in a vibrant Castro Valley location.
      19837 Lake Chabot Rd, CASTRO VALLEY, CA 94546
      View Details
    • $4,000,000
      20,232 SF

      Mixed-Use Landmark in Castro Valley

      Classic mixed-use building with retail, office, and residential spaces.
      3137 Castro Valley Blvd, CASTRO VALLEY, CA 94546
      View Details

    FAQs

    What type of property is this?
    Retail space - Retail or medical space available in Castro Valley.
    Where is this retail space located?
    The property is located at 2423 Grove Way Castro Valley, CA.
    What is the asking price?
    The asking price for this property is $4,800,000.
    What are key features of this property?
    This property features: Sale‑leaseback portfolio; Four properties included; Located in California
    (714) 293-0939 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Mike Paleo
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!