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 Market800
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
(888) 584-9427
Listed By:
Brian Merrion · License #01940486
(415) 802-1400
Source:
Moodyscre
Added: Jul 29, 2024
Changed: Sep 6
Last Checked: Oct 5 at 7:39PM
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 / Yr
$104,798
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
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
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 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
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Current Use
Location Intelligence
Trade Area within ½ mile
2,390
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 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
