Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Mixed-Use Building in Alameda Heart Title is generated by Realmo AI

    1203 Benton St, Alameda, CA 94501

    View on Map
    Claim this Listing
    For Sale
    $2,195,000

    Mixed-use building with commercial units and residential apartments in Alameda.

    Type:Commercial
    Property size:
    6,568 SF
    Price / SF:
    $334/SF
    Added:
    Nov 6, 2024
    Days on Market:
    575
    Last Refresh:
    Apr 5 at 8:26 pm

    Property Features for 1203 Benton St

    General Information

    Standard status
    Active
    Size
    6,568 SF
    Property subtype
    Commercial

    Building Details

    Year Built
    1920

    We can help!

    Listing Contact
    VINCENT TORE SAN NICOLAS

    Listing agent VINCENT TORE SAN NICOLAS License #01230063

    Listing office GREEN BRIDGE PROPERTIES

    Listing date Nov 6, 2024

    Source Corcoran

    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 GREEN BRIDGE PROPERTIES

    HighLights

    • Mixed‑use building with 3 commercial units and 5 residential apartments.
    • Prime location in the heart of Alameda, near the historic Morton St station.
    • Borders the desirable Gold Coast neighborhood.
    • Includes established commercial tenants: The Benton (bar) and Elegant Nails.
    • Diverse residential units: studios, 1‑bedroom, and a spacious 2‑bedroom apartment.
    • Close proximity to local shops, Franklin Park, and public transportation.

    Overview

    This classic mixed-use building is centrally located in the heart of Alameda, specifically in the historic Morton St station area. The property features a combination of commercial and residential spaces, comprising 3 commercial units and 5 residential apartments. Its location borders the desirable Gold Coast neighborhood. The commercial spaces are occupied by The Benton, a local bar occupying 2 units, and Elegant Nails. The residential component includes two studio apartments, two 1-bedroom apartments, and a spacious upper 2-bedroom, 1-bath apartment. Local shops, Franklin Park, and public transportation options are all located within a short distance of the property. The building has a total size of 6568 square feet.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Alameda
    County
    Alameda
    State
    California
    Longitude
    -122.262
    Latitude
    37.7704

    Nearby Similar for Sale

    • $1,799,000
      3,247 SF

      Turnkey 4-Unit Multifamily Property

      Four residential units with a shared rear garden and one assigned parking space per unit, offered in turnkey condition.
      1405 Central AVE, ALAMEDA, CA 94501
      View Details
    • $1,180,000
      2,700 SF

      Victorian Duplex in Alameda

      Charming 6-bedroom Victorian duplex on a large lot.
      1801 Buena Vista Ave, Alameda, CA 94501
      View Details
    • $995,000
      1,427 SF

      Remodeled Two-Unit Residential Income Property

      Vacant, fully remodeled duplex offers two 2-bedroom layouts with attached garages and wood-burning fireplaces.
      3241 Briggs Ave, Alameda, CA 94501
      View Details
    • $1,150,000
      1,553 SF

      Remodeled Alameda Duplex with Yards

      Two freshly updated 2BR/1BA units with attached garages, fireplaces, and private backyard space.
      3239 Briggs Ave, Alameda, CA 94501
      View Details
    • $1,550,000
      3,779 SF

      Medical Building Plus Residential Cottages

      Medical building with two residential cottages in Central Alameda.
      2242 Santa Clara Ave, Alameda, CA 94501
      View Details
    • $1,275,000
      2,238 SF

      Two Homes on One Lot

      Two homes on one lot in Alameda, CA.
      976 Park Street, Alameda, CA 94501
      View Details
    • $745,000
      2,289 SF

      Alameda Duplex with Upside Potential

      Centrally located duplex with good income and upside potential.
      1918 Lafayette St, Alameda, CA 94501
      View Details
    • $2,995,000
      6,932 SF

      Corner Fitness Center Building

      For sale corner fitness and entertainment property with a dedicated commercial footprint at a highly visible intersection.
      1526 Webster St, Alameda, CA 94501
      View Details
    • $3,100,000
      7,592 SF

      Alameda Multifamily Investment Opportunity

      Well-maintained 10-unit multifamily property in Alameda, 100% occupied.
      500 Buena Vista Ave, Alameda, CA 94501
      View Details
    • $2,350,000
      7,715 SF

      Victorian Apartments in Alameda Portfolio

      Two adjacent multifamily properties with value-add potential in Alameda.
      925-931 Chestnut Street, Alameda, CA 94501
      View Details
    • $2,800,000
      4,490 SF

      Alameda Retail Space For Sale

      Retail space available in Alameda, California.
      1820 Park St, Alameda, CA 94501
      View Details
    • $1,395,000
      2,923 SF

      Alameda USPS Postal Service Office

      Busy downtown location with lease through 2028.
      1415 Webster, Alameda, CA 94501
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Mixed-use building with commercial units and residential apartments in Alameda.
    Where is this mixed-use property located?
    The property is located at 1203 Benton St Alameda, CA.
    What is the asking price?
    The asking price for this property is $2,195,000.
    What are key features of this property?
    This property features: Mixed‑use building with 3 commercial units and 5 residential apartments.; Prime location in the heart of Alameda, near the historic Morton St station.; Borders the desirable Gold Coast neighborhood.
    (510) 910-5204
    We can help!
    Listing Contact
    VINCENT TORE SAN NICOLAS
    Real Estate License ID: 01230063
    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

    Thank You for Inquiry
    1203 Benton St, ALAMEDA, CA 94501
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!