Lake Merritt Waterfront Corner
For Sale
Contact for pricing
Pending
2108 Lakeshore Ave, Oakland, CA
7,817 SF corner building with lake views and parking.
Property Size7,817 SF
Lot Size0.10 Acres
Days on Market755
Property Features for 2108 Lakeshore Ave
General Information
Standard status
Pending
Size
7,817 SF
Lot size
0.10 Acres
Property subtype
OFFICE
Listing Agency:
eXp Commercial - CA
(415) 802-1400
Listed By:
Brian Merrion · License #02325254
(415) 802-1400
Source:
Moodyscre
Added: Jul 29, 2024
Changed: Aug 9
Last Checked: Aug 21 at 3:24PM
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 eXp Commercial - CA
Investment Insights
Based on property information with market context.
This 7,817 square foot corner building is located on the shores of Lake Merritt in Oakland. The property features panoramic lake views and a private parking lot. Situated in a thriving East Bay commercial hub, almost 15,000 businesses are within 2 miles of the property, with daytime employment exceeding 119,000. The building is currently configured as 5 separate office suites, 4 of which include a full bath. The property offers potential as a corporate headquarters, a value-add investment, or a residential conversion. Desirable features include on-site parking, a mix of private and collaborative spaces, and a generous layout suitable for various professional services. The building benefits from rich natural lighting due to its four exposures, a rarity for a corner lot. The property enjoys easy access to Oakland’s amenities. It is suitable for owner-users or developers looking for residential conversion.
Key Highlights
- Prime Lake Merritt waterfront location with panoramic views
- Large 7,817 sq ft corner building with private parking
- Versatile property suitable for office use or residential conversion
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
$104,798
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
4.38%
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%
$2,095,960
$2.1M
Cap Rate 7%
$1,497,114
$1.5M
Cap Rate 9%
$1,164,422
$1.2M
Market Conditions
NOI Build-Up for 7,817 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
$183.9K $23.52/SF
− Vacancy
−$44.1K −$5.64/SF
EGI
$139.7K $17.88/SF
− OpEx
−$34.9K −$4.47/SF
NOI
$104.8K $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 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%
$2,095,960
Cap Rate 7%
$1,497,114
Cap Rate 9%
$1,164,422
Alternative Uses
Best Use
Office B
$1.50M
$1.31M – $1.75M
NOI $104,798 @ 7.0% cap · market cap 4.38%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.56M
$2.24M – $2.99M
NOI $179,148 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,390
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - 7,817 SF corner building with lake views and parking.
Where is this office building located?
The property is located at 2108 Lakeshore Ave Oakland, CA.
What is the asking price?
The asking price for this property is $2,395,000.
What are key features of this property?
This property features: Prime Lake Merritt waterfront location with panoramic views; Large 7,817 sq ft corner building with private parking; Versatile property suitable for office use or residential conversion
