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

    2939 Summit St Oakland, CA

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

    Medical office building in Pill Hill with gated parking.

    Type:OFFICE
    Property size:
    4,470 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $559/SF
    Added:
    Feb 20, 2025
    Days on Market:
    433
    Last Refresh:
    Apr 5 at 10:37 pm

    Property Features for 2939 Summit St

    General Information

    Standard status
    Active
    Size
    4,470 SF
    Lot size
    0.14 Acres
    Property subtype
    OFFICE

    Properties For Sale

    at 2939 Summit St Contact us

    We can help!

    Listing Contact
    Aileen Dolby
    Aileen Dolby

    Listing agent Aileen Dolby

    Listing office Colliers | Oakland

    Listing date Feb 20, 2025

    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 Colliers | Oakland

    Overview

    Oakland Medical Office with Parking

    Located in the Pill Hill area of Oakland, adjacent to Sutter and Kaiser hospitals and various healthcare service providers, the property at 2939 Summit Street is surrounded by medical uses, medium-density housing, and supporting retail. The building offers 4,470 square feet of space. While parking in the area is generally limited, with reliance on three parking garages and metered street parking, this property includes its own dedicated, gated parking lot.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Bay Sleep Clinic Medical Clinic Amy Mosley Alternative Medicine Practice John R. Edwards, ... Marriage Or Relationship Counselor My Oasis for Healing Alternative Medicine Practice Abby Schkloven, LMT Alternative Medicine Practice

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Oakland
    County
    Alameda
    State
    California
    Longitude
    -122.265
    Latitude
    37.8186

    Nearby Similar for Sale

    • $849,888
      1,988 SF

      Oakland Commercial Property on International Blvd

      Established bakery and produce business on high-traffic International Blvd.
      10228 International, Oakland, CA 94603
      View Details
    • $750,000
      3,905 SF

      Oakland Multi-Unit Income Property

      Multi-unit property with income potential in Oakland, California.
      4810 Fairfax, Oakland, CA 94601
      View Details
    • $950,000
      2,517 SF

      North Oakland Triplex with Income Potential

      Charming triplex in North Oakland with expansion opportunities.
      876-880 52nd St, Oakland, CA 94608
      View Details
    • $899,000
      2,729 SF

      Spacious Oakland Duplex For Sale

      Two-unit property with strong rental income potential in Oakland.
      2737 12th AVE, OAKLAND, CA 94606
      View Details
    • $749,000
      2,551 SF

      Oakland Triplex in Dimond District

      Income-producing triplex in Oakland's vibrant Dimond District.
      2550 Pleasant st, Oakland, CA 94602
      View Details
    • $995,000
      3,940 SF

      West Oakland Multifamily Victorian Gem

      Two homes on one lot near downtown Oakland.
      1033 Magnolia, Oakland, CA 94607
      View Details
    • $999,000
      2,985 SF

      Oakland Duplex: Modern Upgrades

      Renovated Oakland duplex near Uptown with strong rental income potential.
      523 25Th St, Oakland, CA 94612
      View Details
    • $839,000
      2,582 SF

      Modernized Victorian Home with ADU

      Charming Victorian home with ADU studio in Oakland, CA.
      2735 E 11Th St, Oakland, CA 94601
      View Details
    • $949,950
      3,100 SF

      Oakland Victorian Home with Income

      Victorian home with ADU and basement income potential.
      1725 96Th Ave, Oakland, CA 94603
      View Details
    • $699,000
      2,435 SF

      Oakland Mixed-Use Income Property

      Mixed-use property with residential units and a corner storefront.
      2353 82nd Ave, Oakland, CA 94605
      View Details
    • $875,000
      2,718 SF

      Allendale Park Multifamily Opportunity

      Four-unit multifamily property in a sought-after Oakland neighborhood.
      3792 Angelo Ave, Oakland, CA 94619
      View Details
    • $999,950
      1,904 SF

      Oakland Duplex: Income Potential

      Well-maintained duplex in Oakland, ideal for investors or owner-occupants.
      3627 Loma Vista Ave, Oakland, CA 94619
      View Details

    FAQs

    What type of property is this?
    Medical Office Space - Medical office building in Pill Hill with gated parking.
    Where is this medical office space located?
    The property is located at 2939 Summit St Oakland, CA.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Dedicated, gated parking lot - a valuable feature in the area.; Located in the heart of Pill Hill.; Adjacent to Sutter and Kaiser hospitals.
    (510) 368-1455 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Aileen Dolby
    Aileen Dolby
    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!